X0306 4 2021-01-05 0 0000921738 PENN NATIONAL GAMING INC PENN 0001211342 CARLINO PETER M 825 BERKSHIRE BLVD., SUITE 200 WYOMISSING PA 19610 0 0 0 1 Chairman Emeritus Phantom Stock Units 2021-01-05 4 A 0 3091 A 2022-01-05 2022-01-05 Common Stock 3091 3091 D 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 phantom stock units are scheduled to vest on January 5, 2022. /s/ Elliot D. Hoops, Attorney-In-Fact for Peter M. Carlino 2021-01-07