Form 4: Vail Resorts Exec Gronberg Reports Stock Transactions

Vail Resorts' VP, Controller & CAO, Nathan Mark Gronberg, reported the vesting of Restricted Share Units and new grants of RSUs and Share Appreciation Rights.

Summary

• Nathan Mark Gronberg, VP, Controller & CAO of Vail Resorts, Inc. (MTN), reported several transactions related to his beneficial ownership.
• On September 29, 2025, 269 shares of common stock were acquired upon the vesting of Restricted Share Units (RSUs) from a grant made on September 29, 2022.
• Concurrently, 78 shares of common stock were disposed of at a price of $148.06 per share to satisfy tax withholding obligations related to the RSU vesting.
• Also on September 29, 2025, 222 shares of common stock were acquired upon the vesting of RSUs from a grant made on September 29, 2023.
• An additional 64 shares of common stock were disposed of at $148.06 per share for tax withholding purposes related to this RSU vesting.
• Following these transactions, Gronberg's direct beneficial ownership of common stock was 1,739 shares.
• On September 30, 2025, Gronberg was granted 2,249 Restricted Share Units (RSUs), which will vest in three equal annual installments commencing on the first anniversary of the grant date.
• Also on September 30, 2025, Gronberg was granted 4,334 Share Appreciation Rights (SARs), which will vest in three equal installments commencing on the first anniversary of the grant date and expire on September 30, 2035.

Sentiment

Score: 6

Explanation: The filing reports routine insider transactions, primarily the vesting of previously granted equity and new grants of Restricted Share Units and Share Appreciation Rights. This indicates ongoing executive compensation and alignment of interests, which is generally neutral to slightly positive, but not indicative of significant operational or financial news.

Positives

• New grants of 2,249 Restricted Share Units (RSUs) and 4,334 Share Appreciation Rights (SARs) align executive incentives with long-term shareholder value.
• The vesting of previously granted RSUs demonstrates the ongoing realization of executive compensation.

Negatives

• A total of 142 shares of common stock were disposed of to cover tax withholding obligations, reducing direct beneficial ownership.

Future Outlook

The newly granted Restricted Share Units (2,249) and Share Appreciation Rights (4,334) are scheduled to vest in three equal annual installments commencing on their respective first anniversaries of the September 30, 2025 grant date, indicating future equity compensation for the reporting person.

Stakeholder Impact

• Shareholders benefit from the continued alignment of executive incentives with company performance through equity grants.
• The reporting person, Nathan Mark Gronberg, receives compensation through equity vesting and new grants.

Next Steps

• Future vesting of 2,249 Restricted Share Units in three equal annual installments, commencing on September 30, 2026.
• Future vesting of 4,334 Share Appreciation Rights in three equal installments, commencing on September 30, 2026.

Key Dates

Recommendation

The filing details routine insider transactions related to executive compensation, including RSU vesting and new equity grants. These events are standard and do not provide new fundamental information to alter an investment thesis for Vail Resorts. The new grants align management incentives with shareholder value creation.

Keywords

Vail Resorts, MTN, Form 4, Insider Trading, Restricted Share Units, Share Appreciation Rights, Executive Compensation, Nathan Mark Gronberg, Stock Transactions