Las Vegas Sands sets new long-term executive contracts
Las Vegas Sands Corp. approved new long-term employment agreements for three senior executives.
Rhea-AI Filing Summary
Las Vegas Sands Corp. approved new long-term employment agreements for three senior executives. Patrick Dumont, already appointed Chairman, Chief Executive Officer, President and Treasurer effective March 1, 2026, entered into a new contract effective March 2, 2026 through March 2, 2031. His agreement provides a base salary of $2,500,000, a target annual cash bonus equal to 250% of base salary and a target annual equity award equal to 725% of base salary, plus security services and Company-owned aircraft usage for business and personal travel, and optional first class commercial travel and hotel accommodations for business trips.
New agreements for Executive Vice President and Chief Financial Officer Randy Hyzak and Executive Vice President, Global General Counsel and Secretary D. Zachary Hudson are effective for the same term. Hyzak’s package includes a $1,350,000 base salary, a target annual cash incentive equal to 200% of base salary and a target annual equity award equal to 250% of base salary. Hudson’s agreement provides a $1,600,000 base salary, a target annual cash incentive equal to 200% of base salary and a target annual equity award equal to 425% of base salary.
The agreements describe separation benefits for terminations without cause, for good reason, or in connection with a change of control, generally based on one or two times base salary plus target bonus, along with continued benefits for one or two years, and payments for death or disability equal to one times base salary and any unpaid prior-year bonus. All include one-year non-competition and non-solicitation covenants and perpetual confidentiality obligations.
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8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What executive employment agreements did Las Vegas Sands (LVS) approve in March 2026?
Las Vegas Sands approved new employment agreements for Patrick Dumont, Randy Hyzak and D. Zachary Hudson, all effective March 2, 2026 and expiring March 2, 2031. These contracts set base salaries, target cash bonuses, equity awards and detailed separation and restrictive covenant terms for each executive.
What compensation is Patrick Dumont eligible for under his new Las Vegas Sands (LVS) agreement?
Patrick Dumont’s agreement provides a $2,500,000 base salary, a target annual cash incentive equal to 250% of base salary and a target annual equity award equal to 725% of base salary. He also receives security services, Company-owned aircraft use and optional first class business travel and hotel accommodations.
How are Randy Hyzak and D. Zachary Hudson compensated under their new LVS employment agreements?
Randy Hyzak’s agreement includes a $1,350,000 base salary, a target cash incentive equal to 200% of base salary and a target equity award equal to 250% of base salary. D. Zachary Hudson’s agreement provides a $1,600,000 base salary, 200% target cash incentive and 425% target equity award, all tied to base salary.
What severance protections do the new Las Vegas Sands (LVS) executive agreements provide?
For terminations without cause or for good reason, each executive can receive one times base salary plus target bonus, certain unpaid and pro-rata bonuses and continued benefits for one year. If this occurs within twenty-four months of a change of control, the multiple increases to two times and benefits extend to two years.
How do the new LVS executive agreements treat equity awards upon termination?
Equity awards granted before March 2, 2026 continue to follow their existing terms under prior agreements or award documents. Equity awards granted on or after the Effective Date are governed by the terms and conditions in the applicable equity award agreements, which will control vesting and treatment at termination.
What restrictive covenants are included in the Las Vegas Sands (LVS) executive agreements?
Each agreement contains a one-year non-competition covenant and a one-year non-solicitation covenant following termination of employment. They also include a perpetual confidentiality covenant, requiring the executives to maintain the confidentiality of the Company’s information indefinitely, even after their employment ends for any reason.
When will the full text of the new Las Vegas Sands (LVS) executive agreements be available?
The company states that complete copies of the Dumont, Hyzak and Hudson employment agreements will be filed as exhibits to its Quarterly Report on Form 10-Q for the quarter ending March 31, 2026, allowing investors to review the detailed contractual terms and compensation provisions directly.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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 3, 2026
| (Exact name of registrant as specified in its charter) | ||||||||
| (State or other jurisdiction of incorporation) | ||||||||
| (Commission File Number) | (IRS Employer Identification No.) | |||||||
(Address of principal executive offices) (Zip Code)
(702 ) 923-9000
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(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 (see General Instruction A.2. below):
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| Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). | ||||||||||||||||||||||||||
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| ITEM 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. | ||||
As previously disclosed, effective March 1, 2026, the Board of Directors of Las Vegas Sands Corp. (the “Company”) appointed Patrick Dumont as Chairman, Chief Executive Officer, President and Treasurer of the Company. In connection with Mr. Dumont’s appointment, the Company entered into a new employment agreement with Mr. Dumont (the “Dumont Employment Agreement”). In addition, on March 3, 2026, the Company entered into new employment agreements with Randy Hyzak, the Company’s Executive Vice President and Chief Financial Officer (the “Hyzak Employment Agreement”), and D. Zachary Hudson, the Company’s Executive Vice President, Global General Counsel and Secretary (together with the Dumont Employment Agreement and the Hyzak Employment Agreement, the “Employment Agreements”). The Employment Agreements are each effective as of March 2, 2026 (the “Effective Date”) and each provide for an employment term that expires on March 2, 2031.
Pursuant to his Employment Agreement, Mr. Dumont will be eligible to receive (i) a base salary equal to $2,500,000 (which does not reflect a change from Mr. Dumont’s prior employment agreement), (ii) a target annual cash incentive award opportunity equal to 250% of his base salary, (iii) a target annual equity award opportunity equal to 725% of his base salary, and (iv) security services, Company-owned aircraft usage for business and personal purposes, and, at his election, first class travel on commercial airlines for all business trips and first class hotel accommodations.
Pursuant to his Employment Agreement, Mr. Hyzak will be eligible to receive (i) a base salary equal to $1,350,000, (ii) a target annual cash incentive award opportunity equal to 200% of his base salary, and (iii) a target annual equity award opportunity equal to 250% of his base salary.
Pursuant to his Employment Agreement, Mr. Hudson will be eligible to receive (i) a base salary equal to $1,600,000, (ii) a target annual cash incentive award opportunity equal to 200% of his base salary, and (iii) a target annual equity award opportunity equal to 425% of his base salary.
The Employment Agreements provide that each executive will be eligible to receive (i) subject to his execution of a release of claims, separation benefits for a termination without cause or for good reason equal to: one times the sum of his base salary plus his target bonus; any unpaid bonus for the prior year; a pro-rata target bonus for the year of termination; and continued participation in the Company’s health and welfare benefit plans and employer contributions to certain retirement and deferred compensation plans, if any, for one year, (ii) subject to his execution of a release of claims, separation benefits for a termination without cause or for good reason that occurs within twenty-four months of a change of control equal to: two times the sum of his base salary plus his target bonus; any unpaid cash bonus for the prior year; a pro-rata target bonus for the year of termination; and continued participation in the Company’s health and welfare benefit plans and employer contributions to certain retirement and deferred compensation plans, if any, for two years, and (iii) subject to his (or his estate’s) execution of a release of claims, separation benefits for a termination due to death or disability equal to: one times his base salary and any unpaid cash bonus for the prior year. In addition, each Employment Agreement provides that upon any termination of employment, all equity awards granted prior to the Effective Date will continue to be treated in accordance with their existing terms (whether by virtue of their existing employment agreement or the terms of the applicable award agreements), and all equity awards granted on or following the Effective Date will be subject to the terms and conditions set forth in the applicable equity award agreement. Each of the Employment Agreements also includes a one-year non-competition and non-solicitation covenant and a perpetual confidentiality covenant.
The foregoing summaries are qualified in their entirety by reference to the complete text of the Employment Agreements, copies of which will be filed with the Company’s Quarterly Report on Form 10-Q for the quarter ending March 31, 2026.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report on Form 8-K to be signed on its behalf by the undersigned, hereunto duly authorized.
Dated: March 5, 2026
| LAS VEGAS SANDS CORP. | |||||||||||
| By: | /S/ D. ZACHARY HUDSON | ||||||||||
| Name: D. Zachary Hudson Title: Executive Vice President, Global General Counsel and Secretary | |||||||||||