United Parks & Resorts Inc. Appoints President; CCO Resigns

What Happened

• United Parks & Resorts filed an 8‑K on September 22, 2026 announcing the appointment of Mr. Miller as President effective the same date, concurrent with an amendment to the Company’s bylaws effective Sept. 22, 2026. Marc Swanson will continue to serve as Chief Executive Officer. The filing also discloses that Christopher Finazzo informed the Company on September 19, 2026 that he will resign as Chief Commercial Officer effective September 25, 2026.

Key Details

• Mr. Miller (age 49) has been the Company’s Chief Parks Operations Officer since January 2023 and worked at the Company since 1995; he previously served as Park President of SeaWorld Orlando, Discovery Cove, and Aquatica Orlando beginning in 2018.
• Compensation for Mr. Miller as President: annual base salary of $400,000; annual bonus target equal to 150% of base salary; long‑term incentive target equal to 300% of base salary.
• One‑time equity awards for Mr. Miller: (i) stock options with a grant‑date value of $1,000,000 expressed as a number of options determined by dividing $1,000,000 by the stock price at grant (exercise price = closing stock price at grant), vesting in four equal annual installments; (ii) restricted stock units with a grant‑date fair value of $500,000 vesting in four equal annual installments; (iii) performance stock units with a grant‑date fair value of $1,000,000 under the Company’s 2027 performance-vesting long‑term equity incentive plan. All awards are under the Company’s 2025 Omnibus Incentive Plan.
• The filing states there are no arrangements, family relationships, or reportable transactions between Mr. Miller and the Company that require disclosure under Item 404(a) of Regulation S‑K.

Why It Matters

• The 8‑K documents a leadership change that formalizes Mr. Miller’s promotion to President while confirming Marc Swanson remains CEO, providing clarity on the company’s senior management structure.
• The disclosed compensation and sizable equity awards signal the company’s incentive alignment for the new President but also represent incremental compensation expense and potential dilution that investors may monitor in future filings.
• The announced resignation of the Chief Commercial Officer (effective Sept. 25, 2026) is a material executive departure to note; the filing does not disclose a successor or additional terms related to that departure.