CEO Hornbuckle extends contract to Dec 2028; $8M signing bonus, $10M annual equity target

MGM Resorts International

New employment agreement extends term from Aug 2026 to Dec 31, 2028; base salary unchanged at $2M.
Target bonus increased to 250% of base; amounts above 150% paid in deferred RSUs vesting over 3 years.
One-time $8M cash signing bonus, subject to pro-rata repayment if termination before Dec 2028.
Annual equity grants of $10M expected (50% PSUs, 50% RSUs); also advisory role for Japan IR at $25k/month.
Severance: 1.5x base plus target bonus (12 monthly payments) plus 24 months COBRA if terminated without cause.

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