Penn Entertainment is slashing CEO Jay Snowden’s pay package by 31% after shareholders rejected last year’s compensation plan.
Snowden could earn up to $17.4 million in 2026, according to a Monday proxy filing. More than 60% of shareholder votes opposed the prior executive pay plan, which could have paid Snowden $25.3 million in 2025.
The filing details compensation committee meetings with shareholders who raised concerns about executive pay. It did not adjust pay for other named executive officers and said the CEO cut was made “with the support and agreement” of Snowden.
The annual meeting is scheduled for June 16.
