MGM insider reports PSU vesting and partial sales at $33.93
Rhea-AI Filing Summary
MGM Resorts (MGM) insider Todd Meinert reported multiple equity transactions tied to vesting and sales on 10/03/2025 and 10/04/2025. Performance share units granted on 10/03/2022 vested, resulting in 5,309.36644 PSUs converting to 4,581 shares using a per‑PSU payout of 0.8628210 shares based on a target price of $41.83. In addition, 1,388 RSUs vested and 843 RSUs vested the next day; some vested shares were sold in multiple transactions at $33.93 per share. Following these transactions, the reporting person beneficially owned 24,532 shares (direct). The filings show standard grant vesting schedules and exercised/vested equity rather than open‑market purchases.
Positive
- Vesting of long‑term awards (5,309 PSUs and 2,231 RSUs) demonstrates retention incentives functioning as intended
- Transparent reporting with detailed PSU payout calculation and explicit vesting schedule
Negative
- Insider sales at $33.93 occurred below the PSU target price of $41.83, reducing insider shareholdings
- Net share count modestly reduced to 24,532 shares after partial sales, showing insider liquidity
Insights
Vesting drove net share increases and partial sales at a sub‑target price.
The vesting of 5,309.36644 PSUs from 10/03/2022 produced 4,581 shares using a payout multiplier of 0.8628210, tied to a $41.83 target price and a 60‑day averaging method. Separate RSU tranches of 1,388 and 843 shares also vested on 10/03/2025 and 10/04/2025, consistent with multi‑year grant schedules.
Some vested shares were sold at $33.93, which is below the PSU Target Price, creating realized proceeds but reducing the insider's direct share count to 24,532 shares. Monitor next scheduled vesting/exercise dates and any subsequent open‑market activity for dilution or insider liquidity signals within the next 12 months.
Transactions align with routine executive compensation vesting and documented plan rules.
The activity is reported under the 2022 Omnibus Incentive Plan and follows stated vesting terms: PSUs with performance‑based payout and RSUs that vest in four equal annual installments. The form shows direct beneficial ownership and no indicated indirect holdings or special arrangements.
Key governance items to watch are any future grants or plan amendments and quarterly Form 4s showing additional sales; these filings typically signal scheduled liquidity events rather than ad hoc insider trading.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 843 | $0.00 | -- |
| Exercise | Common Stock $.01 Par Value ND | 843 | $0.00 | -- |
| Tax Withholding | Common Stock $.01 Par Value ND | 206 | $33.93 | $7K |
| Exercise | Restricted Stock Units | 1,388 | $0.00 | -- |
| Exercise | Common Stock $.01 Par Value ND | 1,388 | $0.00 | -- |
| Tax Withholding | Common Stock $.01 Par Value ND | 338 | $33.93 | $11K |
| Grant/Award | Common Stock $.01 Par Value ND | 4,581 | $0.00 | -- |
| Tax Withholding | Common Stock $.01 Par Value ND | 1,116 | $33.93 | $38K |
Footnotes (1)
- Represents the vesting of 5,309.36644 performance share units (PSUs) granted on October 3, 2022, under the MGM Resorts International (Company) 2022 Omnibus Incentive Plan (Plan). Each PSU represented the right to receive between 0 and 1.6 shares of Company common stock depending upon the performance of the common stock from the grant date to the date that was three years after the grant date (Vesting Date), relative to a target price of $41.83 (Target Price). The Target Price is equal to 125% of the average closing price of Company common stock over the 60-calendar day period ending on the grant date. The number of shares issued per PSU, 0.8628210 shares, was calculated by dividing the ending average stock price by the Target Price. For this purpose, the ending average stock price is the average closing price of Company common stock over the 60-day period ending on the Vesting Date, as adjusted to include dividends paid during the term of the PSU. Restricted Stock Units ("RSUs") granted under the MGM Resorts International ("Company") 2022 Omnibus Incentive Plan. Each RSU represents the right to receive, following vesting, one share of Company common stock. The RSUs vest in four equal annual installments commencing on the first anniversary of the grant date. RSUs granted under the Plan. Each RSU represents the right to receive, following vesting, one share of Company common stock. The RSUs will vest in four equal annual installments commencing on the first anniversary of the grant date.
