Caesars Entertainment Appoints New CFO

TL;DR

Caesars names new CFO, David Johnson, with $750K salary + bonus + $3M stock.

AI Summary

Caesars Entertainment, Inc. announced on June 11, 2024, the appointment of David M. Johnson as Chief Financial Officer, effective June 14, 2024. Johnson will receive an annual base salary of $750,000 and will be eligible for an annual bonus with a target of 100% of his base salary. He will also receive a long-term incentive award with a grant date fair value of $3,000,000.

Why It Matters

The appointment of a new CFO is a significant leadership change that can impact the company's financial strategy and investor confidence.

Risk Assessment

Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.

Key Numbers

• $750,000 — CFO Base Salary (Annual compensation for David M. Johnson.)
• 100% — CFO Bonus Target (Potential bonus as a percentage of base salary for David M. Johnson.)
• $3,000,000 — CFO Long-Term Incentive (Grant date fair value of stock award for David M. Johnson.)

Key Players & Entities

• Caesars Entertainment, Inc. (company) — Registrant
• David M. Johnson (person) — Appointed Chief Financial Officer
• $750,000 (dollar_amount) — Annual base salary for new CFO
• 100% (dollar_amount) — Target annual bonus percentage for new CFO
• $3,000,000 (dollar_amount) — Grant date fair value of long-term incentive award for new CFO
• June 11, 2024 (date) — Date of the report
• June 14, 2024 (date) — Effective date of CFO appointment

FAQ

From the Filing

0001590895-24-000106.txt : 20240614 0001590895-24-000106.hdr.sgml : 20240614 20240614160818 ACCESSION NUMBER: 0001590895-24-000106 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240611 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Submission of Matters to a Vote of Security Holders ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240614 DATE AS OF CHANGE: 20240614 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Caesars Entertainment, Inc. CENTRAL INDEX KEY: 0001590895 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 463657681 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36629 FILM NUMBER: 241044793 BUSINESS ADDRESS: STREET 1: 100 WEST LIBERTY STREET, 12TH FLOOR CITY: RENO STATE: NV ZIP: 89501 BUSINESS PHONE: 775-328-0100 MAIL ADDRESS: STREET 1: 100 WEST LIBERTY STREET, 12TH FLOOR CITY: RENO STATE: NV ZIP: 89501 FORMER COMPANY: FORMER CONFORMED NAME: Eldorado Resorts, Inc. DATE OF NAME CHANGE: 20140919 FORMER COMPANY: FORMER CONFORMED NAME: Eclair Holdings Co DATE OF NAME CHANGE: 20131104 8-K 1 czr-20240611.htm 8-K czr-20240611 false 0001590895 0001590895 2024-06-11 2024-06-11 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   FORM 8-K   CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934   June 11, 2024 Date of Report (Date of earliest event reported)   CAESARS ENTERTAINMENT, INC. (Exact name of registrant as specified in its charter)   Delaware 001-36629 46-3657681 (State of Incorporation) (Commission File Number) (IRS Employer Identification Number) 100 West Liberty Street, 12th Floor , Reno , Nevada 89501 (Address of principal executive offices, including zip code)  (775)   328-0100 (Registrant’s telephone number, including area code) N/A (Former Name or Former Address, if Changed Since Last Report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, $0.00001 par value CZR NASDAQ Stock Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company   ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐ Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers. On June 11, 2024, Caesars Entertainment, Inc., a Delaware corporation (the “Company”) held its 2024 Annual Meeting of Stockholders (the “2024 Annual Meeting”) of the Company. At the 2024 Annual Meeting, the Company’s stockholders approved