---
schema_version: "secwatch.filing_event.v1"
accession: "0000789570-25-000023"
form_type: "8-K"
ticker: "MGM"
cik: "0000789570"
company_name: "MGM Resorts International"
filed_at: "2025-05-08T23:59:59+00:00"
generated_at: "2026-05-22T06:07:11.630455+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000789570-25-000023
- form_type: 8-K
- ticker: MGM
- cik: 0000789570
- company_name: MGM Resorts International
- filed_at: 2025-05-08T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/789570/000078957025000023/0000789570-25-000023-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/789570/000078957025000023/mgm-20250508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000789570-25-000023
- JSON: https://secwatch.observer/filing/0000789570-25-000023.json
- Plain text: https://secwatch.observer/filing/0000789570-25-000023.txt

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