Form 4: MGM Resorts Director Keith Meister Sells 51,000 Shares

Keith Meister, a director at MGM Resorts International, sold 51,000 shares of common stock at an average price of $36.57 on December 13, 2024.

Summary

• On December 13, 2024, Keith Meister, a director of MGM Resorts International, sold 51,000 shares of the company's common stock.
• The shares were sold at a weighted average price of $36.57, with individual transaction prices ranging from $36.21 to $36.89.
• Following the transaction, Meister indirectly beneficially owns 5,687,478 shares through investment funds managed by Corvex Management LP.
• Meister disclaims beneficial ownership of these securities except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a neutral report of a stock sale by a director, with no indication of positive or negative sentiment.

Management Comments

• The Reporting Person undertakes to provide to MGM Resorts International, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4.
• For purposes of Section 16 of the Securities Exchange Act of 1934, the Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

Industry Context

This is a routine Form 4 filing, which is common for directors and officers of publicly traded companies when they engage in transactions involving the company's stock. It provides transparency into insider trading activities.

Comparison to Industry Standards

• Form 4 filings are a standard practice for publicly traded companies in the US, ensuring transparency of insider transactions.
• The sale by Keith Meister is similar to other insider transactions reported by directors and officers of comparable companies.
• The volume of shares sold is not unusual for a director's transaction, and the price range is within normal market fluctuations.

Stakeholder Impact

• The sale of shares by a director may have a minor impact on shareholder sentiment, but is unlikely to have a significant impact on the company's operations or other stakeholders.

Key Dates

Keywords

MGM Resorts International, Keith Meister, stock sale, insider trading, Corvex Management LP, share transaction