BOYD GAMING CORP (BYD) — Insider Trading

AI-Powered SEC Filing Analysis

Latest Insider Trading Filed: 2026-05-14

Key Insights

Director Christine J. Spadafor sold 1,237 shares of BYD on 05/13/2026 at an average price of $80.91, reducing her direct holdings to 8,757 shares, representing a modest 12.4% reduction in her position.
The sale was executed through multiple transactions ranging from $80.88 to $80.94, suggesting a systematic approach to liquidating the position rather than a single large transaction.
As a director-level insider, this sale could indicate either portfolio rebalancing or reduced conviction, though the relatively small transaction size relative to total holdings suggests routine wealth management rather than a major strategic shift.

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Earlier Insider Trading filings

Filed: 2026-05-11

Director Christine J. Spadafor acquired 2,347 shares of Boyd Gaming through vesting of Restricted Stock Units (RSUs) granted under the 2020 Stock Incentive Plan with no monetary consideration, indicating compensation through equity rather than a market purchase.
Following the transaction, Spadafor's total beneficial ownership stands at 9,994 shares held directly, representing a modest personal stake relative to her director position at the company.
The RSUs fully vested and converted to common stock on the grant date (05/07/2026), suggesting this is a routine equity compensation event rather than a discretionary insider buying signal or confidence indicator.

Filed: 2026-05-11

Paul W. Whetsell, a Director at Boyd Gaming, acquired 2,347 shares of common stock on May 7, 2026, through the vesting of Restricted Stock Units (RSUs) granted under the 2020 Stock Incentive Plan at no cost to him.
This transaction represents a routine equity compensation vesting event rather than discretionary insider buying, as the RSUs were granted as part of compensation and fully vested upon grant date with automatic share issuance.
Whetsell's total beneficial ownership increased to 25,358 shares following this transaction, indicating a modest position in the company relative to typical director holdings.
The filing was signed by Uri Clinton as Attorney-in-Fact, suggesting Whetsell may be unavailable or delegated signing authority, which is administratively routine.

Filed: 2026-05-11

Director John Robert Bailey acquired 2,347 shares of BYD common stock on 05/07/2026 through vesting of Restricted Stock Units (RSUs) granted under the 2020 Stock Incentive Plan, with no purchase price indicating compensation-based equity grant.
The shares are held indirectly through the JRB-TAT Bailey Family Trust, bringing Bailey's total beneficial ownership to 29,858 shares; this represents compensation vesting rather than open market insider buying, which is a routine corporate governance activity.
The transaction involves RSUs that fully vested immediately upon grant date with automatic share issuance, suggesting this is part of standard director compensation rather than a discretionary investment decision reflecting confidence in the company's direction.

Filed: 2026-05-11

Marianne Boyd Johnson, Chairman and 10% owner, received 2,347 RSUs that vested immediately on 05/07/2026 with zero consideration, representing routine equity compensation rather than discretionary insider buying.
Johnson's total beneficial ownership across direct and indirect holdings exceeds 11.1 million shares, demonstrating substantial long-term commitment to Boyd Gaming with significant personal wealth concentration in the company.
The filing shows complex ownership structures through multiple trusts and LLCs (8 different entities listed), which is typical for high-net-worth executives managing family wealth and estate planning but requires careful monitoring for potential conflicts.
No derivative securities (options, warrants) are held or exercised in this filing, and the transaction consists solely of vested RSU compensation, indicating this is a routine equity grant rather than a significant market signal.

Filed: 2026-05-11

Director William R. Boyd acquired 2,347 shares of common stock on 05/07/2026 through vesting of Restricted Stock Units (RSUs) granted under the 2020 Stock Incentive Plan, with no consideration paid, indicating routine equity compensation.
Boyd's direct beneficial ownership stands at 17,535 shares following the transaction, while he maintains significant indirect ownership of 1,930,447 shares through the William R. Boyd Gaming Properties Trust and 87,034 shares through another trust vehicle, totaling approximately 2.03 million shares.
The filing shows compensation-driven equity activity rather than discretionary open-market buying, which could suggest management confidence is not being actively demonstrated through additional personal investment at current price levels.
As a Director and substantial shareholder with over 2 million shares beneficially owned across direct and trust holdings, Boyd maintains significant alignment with shareholder interests despite the transaction being a routine vesting event.

Filed: 2026-05-11

Director Michael A. Hartmeier acquired 2,347 shares of Boyd Gaming common stock through RSU vesting on 05/07/2026, with no consideration paid, indicating a routine equity compensation grant rather than voluntary market purchases.
The acquisition was at $0.00 price, confirming these were restricted stock units that vested and converted to common shares as part of the company's 2020 Stock Incentive Plan, not an open market transaction.
Hartmeier's total beneficial ownership increased to 8,315 shares following this transaction, demonstrating modest insider equity stake relative to typical director compensation practices.

Filed: 2026-05-11

Director Thoman A. Randall acquired 2,347 shares of Boyd Gaming common stock on 05/07/2026 through vesting of Restricted Stock Units (RSUs) granted under the 2020 Stock Incentive Plan with zero consideration, indicating routine equity compensation rather than discretionary insider buying.
Randall's total direct beneficial ownership stands at 12,854 shares following this transaction, with an additional 3,154 shares held indirectly through a trust, representing a relatively modest insider stake that does not signal significant conviction in the company's prospects.
The transaction was a mechanical vesting event rather than a voluntary open-market purchase, limiting its value as a positive signal about management's confidence in Boyd Gaming's stock valuation or near-term performance.

Filed: 2026-02-25

Keith Smith, the President and CEO of Boyd Gaming Corp, acquired 35,608 restricted stock units as part of the company's 2020 Stock Incentive Plan. This indicates his continued commitment to the company's long-term success.
Smith also holds 325 shares indirectly through his spouse, further aligning his interests with shareholders.
The grant of restricted stock units to the CEO is a common practice to incentivize and retain key leadership, suggesting Boyd Gaming's focus on stability and continuity in its management team.

Filed: 2026-02-19

William R. Boyd, the reporting person, is a director of Boyd Gaming Corp and has significant indirect beneficial ownership of the company's common stock through two trusts.
Boyd Gaming Corp director William R. Boyd sold 30,000 shares of the company's common stock on February 18, 2026 for an average price of $84.84 per share.
The director still maintains substantial indirect beneficial ownership of 2,017,481 shares of Boyd Gaming Corp, representing over 10% of the company's outstanding shares.

Filed: 2026-01-07

This Form 4 filing indicates that Ted Bogich, the Chief Operating Officer of Boyd Gaming Corp, has voluntarily filed to report that he is no longer serving as an officer of the company effective December 31, 2025.
The filing does not provide any additional details about the reasons for Bogich's departure or any potential impact on the company's operations.
Investors should monitor any subsequent announcements from Boyd Gaming regarding leadership changes and their potential implications for the company's future performance.

Other reports for BOYD GAMING CORP

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Important Information

AI-generated analysis is for informational purposes only. Always read original SEC filings and consult with qualified professionals before making investment decisions.