X0306 4 2023-01-04 0000921738 PENN Entertainment, Inc. PENN 0001133696 NAPLES RONALD J 825 BERKSHIRE BLVD. SUITE 200 WYOMISSING PA 19610 true Common Stock 2023-01-04 4 A 0 2221 0 A 20587 D Phantom Stock Units 2023-01-04 4 A 0 8541 A 2024-01-04 2024-01-04 Common Stock 8541 8541 D The securities reported are shares of restricted stock that vest on January 4, 2024. The reporting person elected to receive payment of fees for 2023 Board service in shares of restricted stock. The reporting person will receive a cash payment for each phantom stock unit equal to the fair market value on the vesting date of one share of the Company's common stock. The reporting person elected to receive the 2023 annual equity award for directors in phantom stock units. /s/ Harper Ko, Attorney- In-Fact for Ronald J. Naples 2023-01-05