---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-018332"
form_type: "8-K"
ticker: "PENN"
cik: "0000921738"
company_name: "PENN Entertainment, Inc."
filed_at: "2026-02-23T23:59:59+00:00"
generated_at: "2026-05-16T01:21:59.199790+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# PENN appoints Ace, Fox, Schiavolin as directors; settles activist HG Vora

## Summary
- Appoints Heather Ace, Jeffrey Fox, and Fabio Schiavolin as independent directors effective Feb 22, 2026.
- Board size increased from 8 to 11; Class II directors expanded from 2 to 4, Class III from 3 to 4.
- Enters cooperation agreement with activist HG Vora; standstill through 45 days before 2028 annual meeting deadline.
- HG Vora agreed to customary voting and standstill restrictions; non-disparagement obligations included.
- New directors bring experience in global gaming, technology, finance, and human resources.

## SEC filing metadata
- accession: 0001104659-26-018332
- form_type: 8-K
- ticker: PENN
- cik: 0000921738
- company_name: PENN Entertainment, Inc.
- filed_at: 2026-02-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/921738/000110465926018332/0001104659-26-018332-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/921738/000110465926018332/tm267014d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-018332
- JSON: https://secwatch.observer/filing/0001104659-26-018332.json
- Plain text: https://secwatch.observer/filing/0001104659-26-018332.txt

## Key facts
- Material Agreements
  PENN Entertainment, Inc. entered into Cooperation Agreement with HG Vora Capital Management, LLC and certain related parties (collectively, "HG Vora") (effective 2026-02-22).
  - Action: entry
  - Counterparty: HG Vora Capital Management, LLC and certain related parties (collectively, "HG Vora")
  - Effective: 2026-02-22
  source text: On February 22, 2026, PENN Entertainment, Inc. (the “Company”) entered into a cooperation agreement (the “Cooperation Agreement”) with HG Vora Capital Management, LLC and certain related parties (collectively, “HG Vora”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/921738/000110465926018332/0001104659-26-018332-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.