secwatch.observer — SEC 8-K summary
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Issuer:     MGM Resorts International (MGM)
CIK:        0000789570
Form:       8-K
Filed at:   2026-01-16T23:59:59+00:00
Accession:  0000789570-26-000010
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MGM Resorts enters employment agreement with Chief Legal & Admin Officer John McManus through 2029
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- Base salary $1M, target bonus 150% of base, annual equity target $2.5M (50% PSUs, 50% RSUs).
- Term from Jan 1, 2026 to Dec 31, 2029; at-will after term.
- Severance: if terminated without cause, receives salary + target bonus as 12 monthly payments plus COBRA.
- Non-compete for 12 months post-termination; confidentiality and non-solicitation obligations.
- Incremental bonus over 150% target paid as deferred RSUs over 3 years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/789570/000078957026000010/0000789570-26-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/789570/000078957026000010/mgm-20260115.htm
  HTML page:      https://secwatch.observer/filing/0000789570-26-000010

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer