Vail Resorts (MTN) CEO Robert Katz Receives RSU Shares; Tax Withheld

What Happened
Robert A. Katz, CEO and Chair of Vail Resorts, converted a total of 4,658 restricted share units (RSUs) into common stock on September 29–30, 2026 (reported on Form 4). Of those shares, 2,040 were withheld to cover tax obligations (reported as dispositions) — 391 shares withheld at $141.29 (≈ $55,244) on 2026-09-29 and 1,649 shares withheld at $137.18 (≈ $226,210) on 2026-09-30 — for total tax withholding of about $281,454. The conversions were reported as acquired at $0 (typical for vested RSUs), leaving a net increase of 2,618 shares to Katz’s holdings.

Key Details

• Transaction dates and amounts:
  • 2026-09-29: 890 shares acquired (conversion) at $0; 391 shares withheld for taxes at $141.29 (≈ $55,244).
  • 2026-09-30: 3,768 shares acquired (conversion) at $0; 1,649 shares withheld for taxes at $137.18 (≈ $226,210).
• Net effect: +4,658 shares converted − 2,040 shares withheld = net +2,618 shares.
• Shares owned after the transaction: Not disclosed in the provided filing excerpt.
• Footnotes:
  • F1: Withheld shares were used to satisfy tax withholding related to RSU vesting.
  • F2: 2,668 RSUs were granted on 2023-09-29, vesting in three equal annual installments starting 1 year after grant.
  • F3: 11,305 RSUs were granted on 2025-09-30, vesting in three equal annual installments starting 1 year after grant.
• Filing timing: Form filed 2026-10-01 covering 2026-09-29/30 transactions; no late‑filing flag was indicated in the provided data.

Context
These transactions reflect routine RSU vesting and tax-withholding (a cashless withholding, not an open-market sale). Transaction code M denotes exercise/conversion of a derivative (here, RSUs converting to shares) and F denotes shares withheld/disposed to satisfy tax liabilities. Such withholding is standard and does not necessarily indicate a decision to sell shares on the open market.