BROOMFIELD, Colo., June 11, 2019 /CNW/ -- Vail Resorts, Inc.
(NYSE: MTN) today announced that Chairman and Chief Executive
Officer Rob Katz has exercised stock appreciation rights
(SARs) and will be donating 100 percent of the shares and proceeds
received to his family charitable foundation and donor advised
charitable fund. Based on the market price on the date of
exercise of $235.53 per share, the
donation is equal to approximately $15.7
million. After withholding taxes, Katz received
approximately 66,688 shares of Vail Resorts stock from the
SARs exercise, all of which will be donated either in the form of a
donation of shares or a donation of cash proceeds that were
received from the sale of shares. The charitable foundation
and fund have been initially focused on helping to address mental
and behavioral health issues in mountain resort
communities.
About Vail Resorts, Inc. (NYSE: MTN)
Vail
Resorts, Inc., through its subsidiaries, is the leading global
mountain resort operator. The Company's subsidiaries operate 17
world-class mountain resorts and three urban ski areas, including
Vail, Beaver Creek, Breckenridge, Keystone and Crested
Butte in Colorado;
Park City in Utah; Heavenly, Northstar and Kirkwood in the Lake
Tahoe area of California
and Nevada; Whistler Blackcomb in
British Columbia, Canada;
Stowe and Okemo in Vermont; Mount
Sunapee in New Hampshire;
Stevens Pass in Washington;
Perisher in New South Wales,
Australia; Falls Creek and Hotham in Victoria, Australia; Wilmot Mountain in Wisconsin; Afton Alps
in Minnesota and
Mt. Brighton in Michigan. Vail
Resorts owns and/or manages a collection of casually elegant
hotels under the RockResorts brand, as well as the Grand Teton
Lodge Company in Jackson Hole, Wyoming. Vail Resorts
Development Company is the real estate planning and
development subsidiary of Vail Resorts, Inc. Vail
Resorts is a publicly held company traded on the New York
Stock Exchange (NYSE: MTN). The Vail Resorts company
website is www.vailresorts.com and consumer website
is www.snow.com.
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SOURCE Vail Resorts, Inc.