Vail Says Cloudflare CEO Introduced Two Oasis Nominees To The Activist A Week Before Nominations
Vail's board urges votes for all nine of its nominees as Oasis, now with five dissident candidates, challenges the slate on December 14.
Vail Resorts, which owns and operates ski resorts and the lodging and real estate around them, told shareholders in a proxy filing on Friday that Cloudflare CEO Matthew Prince introduced two of activist Oasis Management's four board nominees to the fund about a week before they were nominated. The board is urging votes for all nine of its own nominees on the WHITE proxy card.
A connection the board calls concerning
Oasis, working with Prince, nominated four candidates. Vail's board says Prince introduced two of them to Oasis roughly one week before the nominations, and it calls that link concerning.
The board also says Prince has long advocated dismantling Vail's integrated resort network and has said he would like an activist to take over the board and sell him Park City Mountain.
Prince has denied coordinating with Oasis, saying he holds no economic stake in Oasis or Vail.
A self-nominated shareholder, Gregory Syvert Meyer, has since joined the dissident slate, which the board counts as five nominees in total.
Oasis, Baron and the lawsuits
Oasis holds roughly 9% of Vail, according to a Yahoo Finance report, and has argued the stock does not reflect the value of its mountain assets. Vail's market value was $5.4 billion in the original report.
Baron Capital, Vail's largest investor, said it owned 18% of the stock at the end of June before announcing it would back management's nominees.
Vail is also defending a federal antitrust suit by three skiers, filed Aug. 5, and a separate suit over its Epic Pass. In the first, defendants asked a Colorado court on Oct. 23 to dismiss claims of price coordination.
The business under the fight
Vail's Mountain segment runs 42 destination resorts and regional ski areas, earning from lift tickets, season passes, ski school, dining, and retail and rental. Mountain and Lodging made up about 88% and 12% of net revenue for the fiscal year ended July 31, 2026, and its North American resorts had about 13.1 million skier visits in the 2025/2026 season.
The company's campaign website carries its recent product pushes, including a food investment across 15 resorts that it calls its largest to date.
Stockholders of record as of October 19 vote on the competing slates at the annual meeting on December 14.
Sources
- Vail Resorts — DEFA14A (2026-10-30) — SEC EDGAR
- CPI | Vail Resorts, Alterra Seek Dismissal of Ski Price-Fixing Suit, Deny Collusion Claims — pymnts.com
- Vail Resorts Files Definitive Proxy Expressing Confidence in its Board, Leadership, and Strategy to Deliver Long-Term Shareholder Value – Company Announcement - FT.com — Financial Times
- Vail Resorts' Biggest Investor Backs Company in Fight With Activist Oasis — Reuters
- Baron Capital backs Vail Resorts board in proxy showdown with Oasis — Yahoo Finance
- Vail Resorts' larger holder, Baron Capital, plans to vote against Oasis nominees | Seeking Alpha — seekingalpha.com
