X0306 4 2018-10-15 1 0001656239 Pinnacle Entertainment, Inc. PNK 0001257587 SANFILIPPO ANTHONY MICHAEL C/O PINNACLE ENTERTAINMENT, INC. 3980 HOWARD HUGHES PARKWAY LAS VEGAS NV 89169 1 1 0 0 Chairman and CEO Common Stock 2018-10-01 5 G 0 E 26263 0.00 D 825542 D Common Stock 2018-10-01 5 G 0 E 26263 0.00 A 1080067 I By Sanfilippo Family Trust Common Stock 2018-10-15 4 D 0 825542 D 0 D Common Stock 2018-10-15 4 D 0 1080067 D 0 I By Sanfilippo Family Trust Common Stock 2018-10-15 4 D 0 1810 D 0 I By 401(k) Plan Stock Options (Right to Buy) 2.56 2018-10-15 4 D 0 250000 D 2020-03-14 Common Stock 250000 0 D Stock Options (Right to Buy) 2.86 2018-10-15 4 D 0 200000 D 2019-05-22 Common Stock 200000 0 D Stock Options (Right to Buy) 6.19 2018-10-15 4 D 0 105366 D 2020-05-21 Common Stock 105366 0 D Stock Options (Right to Buy) 6.97 2018-10-15 4 D 0 110760 D 2021-05-20 Common Stock 110760 0 D Stock Options (Right to Buy) 6.98 2018-10-15 4 D 0 50000 D 2024-08-18 Common Stock 50000 0 D Stock Options (Right to Buy) 10.55 2018-10-15 4 D 0 156060 D 2022-10-05 Common Stock 156060 0 D Stock Options (Right to Buy) 11.51 2018-10-15 4 D 0 290910 D 2023-04-28 Common Stock 290910 0 D This transaction involved a gift of shares by the reporting person to the Sanfilippo Family Trust, a living trust, on October 1, 2018. These shares were previously reported as directly beneficially owned by the reporting person. Disposed of pursuant to the Agreement and Plan of Merger, dated as of December 17, 2017 (the "Merger Agreement," and the merger contemplated thereby, the "Merger"), by and among Pinnacle Entertainment, Inc. (the "Issuer"), Penn National Gaming, Inc. ("Penn") and Franchise Merger Sub, Inc. Disposed of pursuant to the Merger Agreement, whereby at the effective time of the Merger (the "Effective Time") each share of Issuer common stock was cancelled and automatically converted into the right to receive $20 in cash, and 0.42 shares of Penn common stock (together, the "Merger Consideration"), with the fractional shares being paid in cash as provided in the Merger Agreement. The stock options vested in five annual installments on March 14, 2011, 2012, 2013, 2014 and 2015. Disposed of pursuant to the Merger Agreement, whereby at the Effective Time each outstanding and vested Issuer stock option other than any vested Issuer stock option that had an exercise price equal to or greater than the Merger Consideration (each such stock option, an "Underwater Option"), was cancelled and automatically converted into the right to receive the Merger Consideration, less the exercise price applicable to such stock option (which exercise price was deducted first ratably from the stock and cash portions of the Merger Consideration to reduce the number of shares delivered to the Reporting Person). The stock options vested in four annual installments on May 22, 2013, 2014, 2015 and 2016. The stock options vested in four annual installments on May 21, 2014, 2015, 2016 and 2017. The stock options vested in four annual installments on May 20, 2015, 2016, 2017 and 2018. The stock options vest and become exercisable in two annual installments on August 18, 2018 and August 18, 2019. The stock options vest and become exercisable in four annual installments on October 5, 2016, 2017, 2018 and 2019. The stock options vest and become exercisable in four annual installments on April 28, 2017, 2018, 2019 and 2020. /s/ Elliot D. Hoops, Attorney-In-Fact for Anthony M. Sanfilippo 2018-10-16