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): March 24, 2016
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 March 24, 2016, Vail Resorts, Inc. (the “Company”) announced the appointment of Ryan Siurek, age 44, to serve as Vice President, Controller and Chief Accounting Officer, effective April 18, 2016. Mr. Siurek will report to the Company’s Executive Vice President and Chief Financial Officer.
As previously reported on June 3, 2015, Mark L. Schoppet, Senior Vice President, Controller and Chief Accounting Officer, notified the Company of his intention to retire from the Company effective upon hiring of his successor and completion of a transition period. Upon effectiveness of Mr. Siurek’s appointment as Vice President, Controller and Chief Accounting Officer, Mr. Schoppet will remain with the Company until completion of a transition period with Mr. Siurek.
Prior to joining the Company, Mr. Siurek served as Vice President and Divisional Chief Financial Officer of the Prepaid and Wholesale division at Sprint Corporation from December 2014 until March 2016 and the Enterprise Solution division from December 2013 until December 2014, where he was responsible for the finance function of these divisions. Prior to these roles, Mr. Siurek served as Vice President, Controller and Chief Accounting Officer of Sprint from November 2009 until December 2013. Mr. Siurek holds a bachelor of science - accounting and a master of science - accounting from Texas A&M University.
In connection with Mr. Siurek’s employment, Mr. Siurek will be entitled to receive compensation and participate in benefits plans, including equity compensation and annual cash incentive plans, generally available to the Company’s other executives. These plans are described in the Company’s definitive proxy statement for its annual meeting of stockholders filed with the Securities and Exchange Commission. Mr. Siurek will also receive (i) an equity award under the Company’s equity compensation plan consisting of restricted share units (RSUs) of approximately $48,621 and share appreciation rights of approximately $166,664, which are expected to vest in three equal installments beginning on the first anniversary of the grant date; and (ii) a one-time additional grant of RSUs of approximately $100,000, which is expected to vest on the third anniversary of the grant date.
There is no arrangement or understanding pursuant to which Mr. Siurek was selected to serve as an officer of the Company and there are no related party transactions between the Company and Mr. Siurek that would require disclosure under Item 404(a) of Regulation S-K. In addition, there are no family relationships between Mr. Siurek and any director or executive officer of the Company.
A copy of the press release announcing the appointment of Mr. Siurek is attached hereto as Exhibit 99.1 and incorporated by reference herein.
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: March 24, 2016 | 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 March 24, 2016. |
Exhibit 99.1
For Immediate Release
Investor Relations: Michael Barkin, (303) 404-1800, InvestorRelations@vailresorts.com
Media Relations: Russ Pecoraro, (303) 404-1856, rpecoraro@vailresorts.com
Vail Resorts Names Ryan Siurek as Chief Accounting Officer
BROOMFIELD, Colo.-March 24, 2016-Vail Resorts, Inc. (NYSE: MTN) announced today that Ryan Siurek has been appointed vice president, controller and chief accounting officer for the company, effective April 18, 2016.
“We’re thrilled to have Ryan join Vail Resorts and bring his extensive experience leading accounting and finance organizations to our team,” said Michael Barkin, executive vice president and chief financial officer of Vail Resorts. “Ryan’s proven track record as a financial leader and his extensive expertise in financial reporting, internal controls and process improvement will help us enhance our capabilities as we continue to grow in the future.”
Most recently, Siurek was vice president, divisional chief financial officer for the prepaid and wholesale division at Sprint Corporation (NYSE: S) and prior to that was the divisional chief financial officer for its enterprise solutions division. He served as the company’s vice president, controller and chief accounting officer from 2009-2013 after joining the company as the assistant controller in January 2009. Previously, Siurek was the director of risk management and global financial shared services at LyondellBasell Industries, where he also served as the European controller and as a senior manager of accounting policy. He began his career with Arthur Andersen LLP and the Financial Accounting Standards Board.
Siurek holds a bachelor’s degree in accounting and a master’s degree in accounting from Texas A&M University and is a certified public accountant.
As previously announced in June 2015, Mark Schoppet, the company’s current senior vice president, controller and chief accounting officer, will retire following the completion of a transition period.
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 three 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, Mt. Brighton in Michigan and Wilmot Mountain in Wisconsin. 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, Wyoming. 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.