Form 4: Hill Path Capital and Affiliates Increase Stake in United Parks & Resorts Inc. Through Share Grant

Hill Path Capital Partners Co-Investment S LP and affiliated entities, including director Scott Ross, reported the acquisition of 1,980 shares of United Parks & Resorts Inc. common stock at $47.33 per share, immediately vesting under an incentive plan, increasing their collective beneficial ownership to over 27 million shares.

Summary

• Hill Path Capital Partners Co-Investment S LP, along with several affiliated entities and director Scott Ross, reported an acquisition of 1,980 shares of United Parks & Resorts Inc. common stock.
• The transaction occurred on June 30, 2025, with shares acquired at a price of $47.33 per share.
• The acquired shares were granted under the Issuer's 2017 Omnibus Incentive Plan and vested 100% immediately.
• Following this transaction, the collective beneficial ownership of the reporting persons in United Parks & Resorts Inc. common stock totals 27,296,231 shares.
• Specific beneficial ownership figures for key entities include: Hill Path Capital Partners LP with 5,885,065 shares, Hill Path Capital Co-Investment Partners LP with 176,201 shares, Hill Path Capital Partners Co-Investment E LP with 6,109,961 shares, Hill Path Capital Partners Co-Investment E2 LP with 402,017 shares, Hill Path Capital Partners-H LP with 1,334,162 shares, Hill Path Capital Partners Co-Investment S LP with 83,900 shares, HEP Fund LP with 10,518,006 shares, HM Fund LP with 2,695,994 shares, and Scott Ross with 90,925 shares.
• The reporting persons, including Scott Ross who is a director, are deemed to be members of a Section 13(d) group that collectively beneficially owns more than 10% of the Issuer's outstanding common stock.

Sentiment

Score: 7

Explanation: The acquisition of shares by a 10% owner and director, especially through an incentive plan that vests immediately, generally conveys a positive sentiment regarding the company's outlook and the insider's belief in its value.

Positives

• The acquisition of shares by a significant 10% owner and director (Scott Ross) indicates continued confidence in United Parks & Resorts Inc.'s future prospects.
• The shares granted vested immediately, providing direct ownership to the recipients.

Future Outlook

The document does not provide explicit forward-looking statements or guidance beyond the reported transaction.

Management Comments

• The shares were granted under the Issuer's 2017 Omnibus Incentive Plan and vested 100% immediately.

Industry Context

This Form 4 filing details an insider transaction, specifically an acquisition of shares by a significant institutional investor and director. Such transactions can signal management and large shareholder confidence in the company's performance and strategic direction within the leisure and entertainment industry.

Related Party Transactions

• The transaction involves Hill Path Capital Partners Co-Investment S LP and several other Hill Path entities, along with Scott Ross, who is a director of United Parks & Resorts Inc. and managing partner of various Hill Path entities.
• The reporting persons are part of a Section 13(d) group that collectively owns more than 10% of the Issuer's outstanding common stock, highlighting a significant related party interest and influence.

Stakeholder Impact

• Shareholders: The acquisition by a significant insider and 10% owner may be interpreted as a positive signal of confidence in the company's future performance, potentially influencing investor sentiment and share price.

Key Dates

Recommendation

Keywords

United Parks & Resorts Inc., PRKS, Hill Path Capital, Scott Ross, SEC Form 4, insider transaction, beneficial ownership, stock acquisition, incentive plan, equity securities