secwatch.observer — SEC 8-K summary
======================================

Issuer:     MGM Resorts International (MGM)
CIK:        0000789570
Form:       8-K
Filed at:   2022-08-22T23:59:59+00:00
Accession:  0001193125-22-226494
Event type: leadership
Sentiment:  neutral
Materiality: 0.45
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MGM Resorts enters new employment agreements with CEO, COO, CFO, CLO; updates change of control policy
--------------------------------------------------------------------------------

- CEO Hornbuckle: $2M base, 200% target bonus, annual equity grants expected $10M.
- COO Sanders: $1.25M base, 175% target bonus, annual equity grants expected $3.75M.
- CFO Halkyard: $1.1M base, 150% target bonus, annual equity grants expected $2.75M.
- CLO McManus: $900K base, 125% target bonus, annual equity grants expected $2.25M.
- Change of Control Policy amended: non-CEO severance multiple reduced from 2x to 1.5x; CEO max removed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/789570/000119312522226494/0001193125-22-226494-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/789570/000119312522226494/d337126d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-226494

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