Vail Resorts Board Tells Holders To Vote Only Its Nine Nominees, Shun Oasis And Meyer
The ski-resort operator's board urges rejection of four activist nominees and one self-nominated candidate before the December 14 annual meeting.
Vail Resorts, the owner of 42 ski resorts, told shareholders in a proxy filing Friday to back only its own nine director nominees and to reject four candidates put forward by activist fund Oasis Investments II Master Fund and one self-nominated candidate, Gregory Meyer. The vote comes at the virtual annual meeting on Monday, December 14.
Which cards to use, and which to toss
Oasis has nominated Robert Chapek, M. Ashton Hudson, Bryce Roberts and Picabo Street. Meyer has nominated himself. The board said it does not endorse any of them.
Shareholders should vote "FOR" only the board's nine nominees on the WHITE proxy card, the board said, and discard any blue card from Oasis or any other-colored card from Meyer. Under SEC rules the company must list the dissident nominees on its own WHITE card anyway.
A holder who has already returned a blue card can revoke it by voting on the WHITE card. Only the latest validly executed proxy counts.
Katz defends a rough year
Chairperson and CEO Robert Katz, in a letter to shareholders, conceded that recent performance "has not met our expectations." He also pointed to resilience: lift revenue fell just 3.5% for the year even though Rockies snowfall ran 55% below the 30-year average from early season through April.
Since his return as CEO, Katz wrote, the company has named a new chief revenue officer, revamped its marketing and introduced new pass and lift ticket products and pricing. He cited record guest satisfaction scores, a larger share of lift tickets and stronger pass sales than the industry for the coming season.
The board also leans on its Epic Experience strategy, which spans digital, gear rental, lessons, food and beverage, and frontline staff. It expects its Resource Efficiency Transformation plan to exceed the original $100 million annual cost-savings target by the end of fiscal 2027. An AI-focused Technology Transformation has identified another $30 million, expected by the end of fiscal 2028.
Board refresh and the share pool
Director Sue Decker will step down at the annual meeting after 11 years. The board said it hired MGM Resorts International CEO Bill Hornbuckle as an independent director this year and expects to finish a search for another in early 2027, which would make four new directors in three years.
Shareholders will also vote on raising the 2024 Omnibus Incentive Plan's share pool from 1,500,000 to 2,250,000. Vail Resorts' market value was $5.5 billion in Friday pre-market data.
The meeting starts at 9 a.m. Mountain Time on December 14; holders of record on October 19 may vote.
Sources
- Vail Resorts — DEFC14A (2026-10-30) — SEC EDGAR
- Vail Resorts (MTN) Up 7.2% Since Last Earnings Report: Can It Continue? — Yahoo Finance
- Green et al v. Vail Resorts, Inc. et al — law360.com
- Vail Resorts (MTN) Could Be 1% Undervalued After Its Winter Music Expansion — Yahoo Finance
- Winter Music Expansion Might Change The Case For Investing In Vail Resorts (MTN) — Yahoo Finance
- Vail Resorts Serves Up New Culinary and Après Experiences at its World-Class Ski Resorts this Winter — prnewswire.com
