MGM Resorts (MGM) director reports open market purchase of 1.10M shares

Rhea-AI Filing Summary

MGM Resorts International reported an insider stock purchase by a reporting person identified as a director. On 12/05/2025, the insider bought 1,098,748 shares of common stock in an open market transaction coded "P" at a weighted average price of about $36.30 per share. The filing notes that these shares were acquired through multiple trades at prices ranging from $35.99 to $36.81. After this transaction, the insider directly beneficially owned 65,822,350 shares of MGM common stock.

Insights

Equity Ownership and Governance Analyst

Large open-market share purchase by a major holder increases direct ownership concentration and economic stake in MGM Resorts International.

The filing shows a significant open-market purchase of 1,098,748 shares of MGM Resorts International common stock on 12/05/2025 at a weighted average price of $36.3 per share. The transaction is coded "P," which denotes a purchase, and it increases the reporting person’s directly held position to 65,822,350 shares. This is a straightforward secondary-market transaction; no derivatives, options, or complex instruments appear in Table II.

This change matters because it raises the economic exposure and voting power of a reporting person identified as a Director and potential significant holder, which can strengthen alignment between that holder’s economic outcome and the company’s performance. A larger direct stake concentrates ownership and can affect how governance dynamics evolve, especially around board decisions and strategic approvals, though the filing does not describe any such plans. The disclosed price range of $35.99–$36.81 confirms the purchase occurred within a relatively narrow trading band on that date.

Key items to watch going forward are any further Form 4 filings that show additional buying or selling, as well as whether this higher ownership level remains stable over time. The timing marker is clear: this transaction date of 12/05/2025 serves as a reference point for monitoring subsequent ownership changes. Consistent accumulation or, conversely, sizable dispositions in later reports would provide more context on how durable this ownership position is.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

IAC Inc.

(Last) (First) (Middle)

555 WEST 18TH STREET

(Street)

NEW YORK NY 10011

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MGM Resorts International [ MGM ]

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

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/05/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.01	12/05/2025		P		1,098,748	A	$36.3(1)	65,822,350	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $35.99 and $36.81, inclusive.

	/s/ Kyra Ayo Caros, Associate General Counsel and Assistant Secretary	12/09/2025
	** 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 4 (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

What insider transaction did MGM (MGM) disclose in this Form 4?

MGM disclosed that a reporting person who is a director purchased 1,098,748 shares of MGM common stock in an open market transaction on 12/05/2025.

At what price were the MGM (MGM) shares purchased in the reported insider trade?

The shares were bought at a weighted average price of about $36.30 per share, with individual trades executed between $35.99 and $36.81.

How many MGM (MGM) shares does the insider own after this transaction?

Following the reported purchase, the insider directly beneficially owned 65,822,350 shares of MGM Resorts International common stock.

What transaction code is used for the MGM (MGM) insider purchase?

The transaction is labeled with code "P", which indicates an open market or private purchase of non-derivative securities.

What type of security did the MGM (MGM) insider acquire?

The insider acquired common stock of MGM Resorts International, with a par value of $0.01 per share.

Does this MGM (MGM) Form 4 report any derivative securities?

No derivative securities are listed with amounts in the provided Table II; the reported activity relates to non-derivative common stock.