Vail Resorts finalizes CEO Robert Katz employment agreement: $1M base, $3M LTI target

VAIL RESORTS INC

Three-year term starting Sep 26, 2025, with automatic one-year renewals unless 60-day notice of non-renewal.
Base salary $1,000,000; target annual cash bonus 100% of base salary under Management Incentive Plan.
Target annual long-term incentive grant of ~$3,000,000 (50% RSUs, 50% SARs with 10% premium exercise price).
Severance on termination without cause or for good reason: 24 months base salary lump sum, pro-rated bonus, COBRA, and full vesting of unvested equity.
Prior one-time equity award of $1,686,831 (6,144 RSUs + 25,086 premium SARs) as disclosed in June 2025 amendment.

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