SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

FARAHI JOHN

(Last)

(First)

(Middle)

MONARCH CASINO & RESORT INC

3800 S. VIRGINIA

(Street)

RENO

89502

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
MONARCH CASINO & RESORT INC [ MCRI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	CEO

3. Date of Earliest Transaction (Month/Day/Year)
10/20/2016

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	10/20/2016		M		66,666⁽¹⁾	A	$21.82	1,791,983	D
Common Shares	10/20/2016		F		63,070⁽¹⁾	D	$23.57	1,791,983	D
Common Stock								1,791,983	D
Common Stock								272,047	I	by trust
Common Stock								276,749	I	by trust
Common stock								276,749	I	by trust
Common Stock								276,749	I	by trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Option/Right to buy	$21.82	10/20/2016		M			66,666⁽¹⁾	10/21/2009	10/21/2016	Common Stock	66,666	$0	400,002	D
Option/right to buy	$17.62							10/21/2018	10/21/2025	Common Stock	66,666		400,002	D
Option/right to buy	$12.32							10/21/2017	10/21/2024	Common Stock	66,668		400,002	D
Option/right to buy	$21.71							10/21/2016	10/21/2023	Common Stock	66,666		400,002	D
option/right to buy	$8.56							10/09/2015	10/09/2022	Common Stock	66,666		400,002	D
Option/right to buy	$9.33							10/21/2014	10/21/2021	Common Stock	66,668		400,002	D
Option/right to buy	$29							10/21/2010	10/21/2017	Common Stock	66,668		400,002	D

Explanation of Responses:

1. On October 20, 2016, Mr. Farahi completed "net" stock option exercise whereby he exercised 66,666 stock options with an expiration date 10/21/2016. The exercise price of the stock option and the required tax withholding were paid in the form of stock totaling 63,070 shares. As a result of this "net" stock exercise Mr. Farahi beneficial ownership increased by the balance of 3,596 shares.

	John Farahi	10/24/2016
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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