Form 4: MGM Resorts Director and 10% Owner Keith Meister Sells Over $1.9 Million in Company Stock

Keith A. Meister, a Director and 10% owner of MGM Resorts International, reported the sale of 60,000 shares of common stock on June 13, 2025, pursuant to a pre-arranged trading plan.

Summary

• Keith A. Meister, a Director and 10% owner of MGM Resorts International (MGM), reported the sale of common stock.
• On June 13, 2025, Mr. Meister sold a total of 60,000 shares of MGM common stock.
• The sales occurred in two transactions: 59,634 shares at a weighted average price of $32.09 per share (ranging from $31.50 to $32.49) and 366 shares at a weighted average price of $32.50 per share (ranging from $32.50 to $32.51).
• The total value of the shares sold is approximately $1,925,795.
• Following these transactions, Mr. Meister indirectly beneficially owns 5,627,478 shares of MGM common stock.
• The shares are held for the accounts of certain private investment funds (Corvex Master Fund LP, Corvex Select Equity Master Fund LP, and Corvex-E LP) for which Corvex Management LP acts as investment adviser, and Mr. Meister controls the general partner of Corvex.
• The transaction was made pursuant to a contract, instruction, or written plan for the sale of equity securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While insider selling can sometimes be viewed negatively, the explicit mention of the transaction being pursuant to a Rule 10b5-1 plan mitigates concerns about opportunistic selling, suggesting a pre-planned liquidity event rather than a signal of negative company prospects.

Positives

• The sale was conducted under a Rule 10b5-1(c) plan, indicating a pre-scheduled transaction rather than an opportunistic sale based on new, non-public information.

Negatives

• A significant sale of 60,000 shares by a director and 10% owner, even if pre-planned, can sometimes be perceived negatively by investors as it reduces insider ownership.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This filing reports an individual insider transaction and does not provide broader industry context or trends. It reflects a change in beneficial ownership by a key stakeholder within the gaming and hospitality sector.

Related Party Transactions

• The shares are indirectly held for the accounts of private investment funds (Corvex Master Fund LP, Corvex Select Equity Master Fund LP, and Corvex-E LP) for which Corvex Management LP acts as investment adviser. Keith A. Meister controls the general partner of Corvex, establishing a related party relationship for the beneficial ownership of these securities.

Stakeholder Impact

• Shareholders may note the reduction in indirect beneficial ownership by a significant insider (Director and 10% owner), although the Rule 10b5-1 plan context suggests it's a routine, pre-planned transaction.

Key Dates

Keywords

MGM Resorts International, MGM, Keith Meister, Insider Trading, Form 4, Stock Sale, Beneficial Ownership, Director, 10% Owner, Corvex Management, Rule 10b5-1