William Hornbuckle - Aug 18, 2023 Form 4 Insider Report for MGM Resorts International (MGM)

Signature
/s/ Jessica Cunningham, Attorney-In-Fact
Stock symbol
MGM
Transactions as of
Aug 18, 2023
Transactions value $
-$5,624,171
Form type
4
Date filed
8/22/2023, 06:21 PM
Previous filing
Apr 4, 2023
Next filing
Oct 4, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MGM Common Stock $.01 Par Value ND Award $0 +154K +232.53% $0.00 220K Aug 18, 2023 Direct F1
transaction MGM Common Stock $.01 Par Value ND Tax liability -$2.58M -60.6K -27.52% $42.54 160K Aug 18, 2023 Direct
transaction MGM Common Stock $.01 Par Value ND Award $0 +144K +90.07% $0.00 303K Aug 18, 2023 Direct F2
transaction MGM Common Stock $.01 Par Value ND Tax liability -$2.41M -56.6K -18.65% $42.54 247K Aug 18, 2023 Direct
transaction MGM Common Stock $.01 Par Value ND Options Exercise $0 +38.2K +15.48% $0.00 285K Aug 18, 2023 Direct
transaction MGM Common Stock $.01 Par Value ND Tax liability -$640K -15K -5.28% $42.54 270K Aug 18, 2023 Direct
holding MGM Common Stock $.01 Par Value ND 173K Aug 18, 2023 In trust

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction MGM Restricted Stock Units Options Exercise $0 -38.2K -50% $0.00 38.2K Aug 18, 2023 Common Stock $.01 Par Value ND 38.2K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the vesting of 96,247.91563 performance share units (PSUs) granted on August 18, 2020 under the MGM Resorts International (Company) Amended and Restated 2005 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 $21.85 (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, 1.6 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.
F2 Represents the vesting of 95,845.62759 PSUs granted on August 18, 2020, under the Plan. The number of shares awarded at the end of the performance period was based upon the Company's three-year total shareholder return (TSR) compared to the TSRs of the constituents of the S&P 500 Index.
F3 Restricted Stock Units ("RSUs") granted under the Plan. Each RSU represents the right to receive, following vesting, one share of Company common stock. Any fractional shares are paid in cash upon settlement.