UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): September 25, 2015
Vail Resorts, Inc.
(Exact name of registrant as specified in its Charter)
Delaware | 001-09614 | 51-0291762 | ||
(State or other jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||
390 Interlocken Crescent Broomfield, Colorado | 80021 | |
(Address of principal executive offices) | (Zip Code) | |
Registrant's telephone number, including area code: (303) 404-1800
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 25, 2015, the Board of Directors (the “Board”) of Vail Resorts, Inc. (the “Company”), based upon a recommendation from its Nominating and Governance Committee, appointed Susan L. Decker to serve as a director of the Company, effective immediately.
As a non-employee director, Ms. Decker will participate in the standard compensation arrangements for non-employee directors as set forth in the Company’s proxy statement. There is no arrangement or understanding pursuant to which Ms. Decker was appointed to the Board and there are no related party transactions between the Company and Ms. Decker that would require disclosure under Item 404(a) of Regulation S-K.
A copy of the press release announcing the appointment of Ms. Decker to the Board is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
A list of exhibits furnished herewith is contained on the Exhibit Index which immediately precedes such exhibits and is incorporated herein by reference.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Vail Resorts, Inc. | ||
Date: September 28, 2015 | By: | /s/ Michael Z. Barkin |
Name: Michael Z. Barkin | ||
Title: Executive Vice President and Chief Financial Officer | ||
EXHIBIT INDEX
Exhibit No. | Description |
99.1 | Press Release dated September 28, 2015. |
Exhibit 99.1
FOR IMMEDIATE RELEASE
Investor Relations: Michael Barkin, (303) 404-1800, InvestorRelations@vailresorts.com
Media Relations: Kelly Ladyga, (303) 404-1862, kladyga@vailresorts.com
Susan Decker Appointed to Vail Resorts Board of Directors
BROOMFIELD, Colo.-Sept. 28, 2015-Vail Resorts, Inc. (NYSE: MTN) announced today that Susan Decker has been appointed to the Company’s Board of Directors, effective immediately.
Decker, who served as both president and chief financial officer at Yahoo! Inc., currently serves on several boards of directors, including Berkshire Hathaway; Intel Corporation, where she is lead director; and Costco Wholesale. She also serves as an advisor for several venture-backed Internet start-ups and is a trustee of the global non-profit organization, Save the Children.
“We’re thrilled to have someone with Sue’s strong strategic and financial acumen join our board,” said Rob Katz, chairman and chief executive officer of Vail Resorts. “Sue has an outstanding track record of board service for some of the most respected companies in the world and a keen understanding of what it takes to lead a passion-driven organization through an engaged culture and high expectations. We look forward to having Sue’s insight as we chart the future of Vail Resorts.”
During the 2009-2010 academic year, Decker was an entrepreneur-in-residence at Harvard Business School (HBS), where she was involved in case development activities and worked with students. Prior to that, Decker served in several positions for Yahoo! from June 2000 to April 2009. She most recently served as president of Yahoo! from June 2007 to April 2009. Before becoming president, Decker served as the head of one of Yahoo!’s two major business units, the advertiser and publisher group, from December 2006 to June 2007. Decker was Yahoo!’s chief financial officer and executive vice president of finance and administration from June 2000 to June 2007.
Before joining Yahoo!, Decker was with Donaldson, Lufkin & Jenrette (DLJ) in New York City. Most recently, she served as global director of equity research at DLJ. Prior to assuming these responsibilities, she spent 12 years as an equity research analyst covering media, publishing and advertising stocks. In this capacity, Decker received recognition from Institutional Investor magazine as a top-rated analyst for 10 consecutive years, from 1989-1998.
Decker holds a bachelor’s degree from Tufts University, with a double major in computer science and economics, and a master’s degree from HBS. In 2010, she received the Alumni Achievement Award, HBS’s highest honor. Decker also was listed among the top 50 Most Powerful Women in Forbes in 2005, 2007 and 2008.
Sue grew up in Denver and is a passionate skier, having served for a season on the junior ski patrol at Winter Park Resort. Sue currently lives in San Francisco with her fiancé and three children.
About Vail Resorts, Inc. (NYSE: MTN)
Vail Resorts, Inc., through its subsidiaries, is the leading global mountain resort operator. The Company’s subsidiaries operate nine world-class mountain resorts and two urban ski areas, including Vail, Beaver Creek, Breckenridge and Keystone in Colorado; Park City in Utah; Heavenly, Northstar and Kirkwood in the Lake Tahoe area of California and Nevada; Perisher in Australia; Afton Alps in Minnesota and Mt. Brighton in Michigan. The Company owns and/or manages a collection of casually elegant hotels under the RockResorts brand, as well as the Grand Teton Lodge Company in Jackson Hole, Wyo. Vail Resorts Development Company is the real estate planning and development subsidiary of Vail Resorts, Inc. Vail Resorts is a publicly held company traded on the New York Stock Exchange (NYSE: MTN). The Vail Resorts company website is www.vailresorts.com and consumer website is www.snow.com.