VAIL Resorts Inc.

Resorts & Casinos • Consumer Cyclical • Broomfield, CO, United States • MTN (NYQ)

303 404 1800 390 Interlocken Crescent, Broomfield, CO 80021, United States

Quarter: Q4 2025 Reported: December 10, 2025 Sentiment: Neutral

Vail Resorts, Inc., together with its subsidiaries, operates mountain resorts and regional ski areas in the United States and internationally. It operates in three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates destination mountain resorts and regional ski areas. This segment is also involved in ancillary activities, including ski school, dining, and retail/rental operations, as well as real estate brokerage activities. Its lodging segment owns and manages various luxury hotels and condominiums under the RockResorts brand; operates other lodging properties and various condominiums; and offers resort ground transportation services. The Real Estate segment owns, develops, and sells real estate properties. Vail Resorts, Inc. was founded in 1962 and is based in Broomfield, Colorado.

Analysis Summary

Vail Resorts, Inc. convened its Annual Meeting on Tuesday, December 9, 2025, addressing key corporate governance matters. Stockholders overwhelmingly approved all three proposals presented. Firstly, all nine director nominees were elected, with 'FOR' votes significantly outweighing 'AGAINST' votes for each candidate, demonstrating solid confidence in the board's composition. For instance, Reginald Chambers received 30,637,383 'FOR' votes against 555,406 'AGAINST', and Peter A. Vaughn, while receiving the highest 'AGAINST' votes, still secured 29,759,296 'FOR' votes. Secondly, the selection of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending July 31, 2026, was ratified with 32,953,909 'FOR' votes, indicating strong approval for the company's audit oversight. Lastly, the advisory vote on executive compensation ('Say-on-Pay') also passed, with 30,133,974 'FOR' votes, signaling shareholder satisfaction with the compensation structure for named executive officers. The consistent approval across all agenda items reflects a stable corporate governance environment and general shareholder contentment with current management and oversight. This 8-K filing, however, is limited to annual meeting voting results and does not contain any financial performance data, forward guidance, strategic business updates, or competitive positioning analysis typically found in an earnings call transcript.

Key Highlights

• All nine director nominees were successfully elected by stockholders at the Annual Meeting.
• PricewaterhouseCoopers LLP was ratified as the independent registered public accounting firm for fiscal year 2026.
• Stockholders approved the advisory vote on executive compensation ('Say-on-Pay').
• All proposals presented at the Annual Meeting passed with significant shareholder support.
• The provided document is an 8-K filing detailing annual meeting results, not an earnings call transcript with financial performance data.

Financial Metrics

eps

Not available in provided transcript

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revenue

Not available in provided transcript N/A

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guidance

net income

Not available in provided transcript N/A

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Stock Performance (90 Days)

Data through Dec 29, 2025

Layoff Events

Earnings Calls

Positive Signals

• All director nominees successfully elected, indicating board stability and shareholder confidence in governance.
• Auditor ratification passed with an overwhelming majority, suggesting trust in financial oversight.
• Executive compensation approved on an advisory basis, reflecting shareholder alignment with management incentives.
• Overall strong shareholder support for all management proposals at the Annual Meeting.

Risks & Concerns

— The provided document is an 8-K filing about an Annual Meeting, not an earnings call transcript; therefore, no financial or operational risk factors were discussed.
— No specific business or market risks were raised in this corporate governance filing.
— While all proposals passed, some directors received a notable number of 'AGAINST' votes, indicating minor dissent among a segment of shareholders.