SCHEDULE 13G: FMR LLC and Abigail P. Johnson Disclose 10.6% Stake in MNTN INC Class A Common Stock

FMR LLC and its Chairman and CEO, Abigail P. Johnson, have jointly disclosed beneficial ownership of 10.6% of MNTN INC's Class A Common Stock as of May 30, 2025.

Summary

• FMR LLC and Abigail P. Johnson reported beneficial ownership of 5,035,627 shares of MNTN INC's Class A Common Stock.
• This aggregate amount represents 10.6% of the outstanding Class A Common Stock.
• FMR LLC holds sole voting and sole dispositive power over all 5,035,627 shares.
• Abigail P. Johnson holds sole dispositive power over the same 5,035,627 shares, with zero sole voting power.
• The filing was made under Rule 13d-1(b), indicating the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of MNTN INC.
• FMR LLC is classified as a parent holding company or control person, with subsidiaries like FIAM LLC and Fidelity Management & Research Company LLC identified as investment advisers, and Fidelity Institutional Asset Management Trust Company and Fidelity Management Trust Company as banks, beneficially owning shares.
• Abigail P. Johnson, as Director, Chairman, and CEO of FMR LLC, and a predominant owner of its Series B voting common shares, is deemed part of a controlling group with respect to FMR LLC.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership, which is neutral in sentiment. It indicates a significant, passive investment by a major institutional investor.

Management Comments

• The securities referred to were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities.
• The securities were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.

Stakeholder Impact

• Shareholders: Disclosure of a significant institutional investor's stake may provide a signal of confidence or long-term interest in the company.

Key Dates

Keywords

MNTN INC, FMR LLC, Abigail P. Johnson, Beneficial Ownership, Class A Common Stock, Schedule 13G, Institutional Investment, Equity Stake