New Marcus Hotels Chief Receives Major Equity Package to Drive Growth

Rhea-AI Filing Summary

This Form 3/A is an amended initial statement of beneficial ownership for Michael Reade Evans, who serves as President of Marcus Hotels & Resorts at The Marcus Corporation (NYSE: MCS). The amendment was filed on June 28, 2025, updating the original Form 3 from August 14, 2023.

Key holdings include:

• Direct Common Stock: 11,534 shares total through various restricted stock grants vesting between 2020-2023
• Indirect Holdings: 936.8786 shares through 401(k) Plan (newly reported in this amendment)
• Stock Options: Total of 147,623 shares underlying options with exercise prices ranging from $12.71 to $31.11 and expiration dates from 2030 to 2033

The restricted stock grants follow a consistent vesting schedule: 50% after 2 years and 100% after 4 years from grant date. Stock options vest similarly: 50% after 2 years, 75% after 3 years, and 100% after 4 years.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Evans Michael Reade

(Last) (First) (Middle)

100 EAST WISCONSIN AVENUE

SUITE 1900

(Street)

MILWAUKEE WI 53202-4125

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
05/31/2023

3. Issuer Name and Ticker or Trading Symbol
MARCUS CORP [ MCS ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Pres., Marcus Hotels & Resorts

5. If Amendment, Date of Original Filed (Month/Day/Year)
08/14/2023

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	1,334(1)	D
Common Stock	2,450(2)	D
Common Stock	3,450(3)	D
Common Stock	4,300(4)	D
Common Stock	936.8786(5)	I	By 401K Plan

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	(6)	01/08/2030	Common Stock	32,506	$31.11	D
Stock Option (Right to Buy)	(6)	02/25/2030	Common Stock	7,117	$28.88	D
Stock Option (Right to Buy)	(6)	05/08/2030	Common Stock	20,000	$12.71	D
Stock Option (Right to Buy)	(6)	03/09/2031	Common Stock	23,000	$21.84	D
Stock Option (Right to Buy)	(6)	03/08/2032	Common Stock	30,000	$17.04	D
Stock Option (Right to Buy)	(6)	03/07/2033	Common Stock	35,000	$15.99	D

Explanation of Responses:

1. Restricted stock granted February 19, 2020 vests as follows: 50% after 2nd anniversary of date of grant and 100% after 4th anniversary of date of grant.

2. Restricted stock granted February 25, 2021 vests as follows: 50% after 2nd anniversary of date of grant and 100% after 4th anniversary of date of grant.

3. Restricted stock granted February 23, 2022 vests as follows: 50% after 2nd anniversary of date of grant and 100% after 4th anniversary of date of grant.

4. Restricted stock granted March 1, 2023 vests as follows: 50% after 2nd anniversary of date of grant and 100% after 4th anniversary of date of grant.

5. Balance reflects the most current data available with regard to the reporting person's holdings in the 401(k) Plan. This amount was not previously reported on the Form 3 filed on August 14, 2023.

6. The options originally granted vest as follows: 50% after 2nd anniversary of the date of grant; 75% after 3rd anniversary; and 100% after 4 years.

	/s/ Steven R. Barth, Attorney-in-Fact for Michael Reade Evans	06/24/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

Who is Michael Reade Evans at MCS (Marcus Corporation) and what position does he hold?

Michael Reade Evans serves as the President of Marcus Hotels & Resorts at The Marcus Corporation (MCS). This information is disclosed in the Form 3/A filing where he is listed as an Officer of the company.

How many shares of MCS common stock does Michael Evans directly own as of June 2025?

According to the Form 3/A, Michael Evans directly owns a total of 11,534 shares of common stock, consisting of different restricted stock grants: 1,334 shares from February 2020, 2,450 shares from February 2021, 3,450 shares from February 2022, and 4,300 shares from March 2023. He also indirectly owns 936.8786 shares through his 401(k) plan.

What stock options does Michael Evans hold for MCS shares and at what prices?

Michael Evans holds six different stock option grants for MCS shares: 32,506 shares at $31.11 (expires 1/8/2030), 7,117 shares at $28.88 (expires 2/25/2030), 20,000 shares at $12.71 (expires 5/8/2030), 23,000 shares at $21.84 (expires 3/9/2031), 30,000 shares at $17.04 (expires 3/8/2032), and 35,000 shares at $15.99 (expires 3/7/2033).

What is the vesting schedule for MCS restricted stock granted to Michael Evans?

All restricted stock grants to Michael Evans follow the same vesting schedule: 50% of the shares vest after the 2nd anniversary of the grant date, and 100% vest after the 4th anniversary of the grant date. This applies to all his restricted stock grants from 2020 through 2023.