# EDGAR Filing Document

**Accession Number:** 0000812011
**File Stem:** 0000812011-25-000079
**Filing Date:** 2025-6
**Character Count:** 11299
**Document Hash:** f06d0739da613493a8dcb0a9c820a00b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000812011-25-000079.hdr.sgml**: 20250630

**ACCESSION NUMBER**: 0000812011-25-000079

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250630

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250630

**DATE AS OF CHANGE**: 20250630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VAIL RESORTS INC
- **CENTRAL INDEX KEY:** 0000812011
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 510291762
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-09614
- **FILM NUMBER:** 251093245

**BUSINESS ADDRESS:**
- **STREET 1:** 390 INTERLOCKEN CRESCENT
- **STREET 2:** SUITE 1000
- **CITY:** BROOMFIELD
- **STATE:** CO
- **ZIP:** 80021
- **BUSINESS PHONE:** 303-404-1800

**MAIL ADDRESS:**
- **STREET 1:** 390 INTERLOCKEN CRESCENT
- **STREET 2:** SUITE 1000
- **CITY:** BROOMFIELD
- **STATE:** CO
- **ZIP:** 80021

?xml version='1.0' encoding='ASCII'? mtn-20250630

**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): June 30, 2025

**<u>Vail Resorts, Inc.</u>**

(Exact Name of Registrant as Specified in Charter)

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| | | | |
|:---|:---|:---|:---|
| **Delaware** | **Delaware** | **001-09614** | **51-0291762** |
| (State or Other Jurisdiction of<br>Incorporation or Organization) | (State or Other Jurisdiction of<br>Incorporation or Organization) | (Commission <br>File Number) | (I.R.S. Employer<br>Identification No.) |
| **390 Interlocken Crescent** | **390 Interlocken Crescent** |  |  |
| **Broomfield,** | **Colorado** |  | **80021** |
| (Address of Principal Executive Offices) | (Address of Principal Executive Offices) |  | (Zip Code) |

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| | |
|:---|:---|
| **(303)** | **404-1800** |
| (Registrant's telephone number, including area code) | (Registrant's telephone number, including area code) |

---

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| |
|:---|
| **Not Applicable** |
| <u>(Former Name or Former Address, if Changed Since Last Report)</u> |

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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:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting materials pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol | Name of each exchange on which registered |
| **Common Stock, $0.01 par value** | **MTN** | **New York Stock Exchange** |

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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).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

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**<u>Item 8.01. Other Events.</u>**

On June 30, 2025, Vail Resorts, Inc. (the "Company") announced the pricing of its previously announced senior notes offering. The Company priced $500 million aggregate principal amount of 5.625% senior notes due 2030 at par (the "Notes"). The aggregate principal amount of Notes to be issued in the offering was increased to $500 million from the previously announced $400 million. The Notes offering is expected to close on July 2, 2025, subject to customary closing conditions.

The Notes will be unsecured senior obligations of the Company and will be guaranteed by certain of the Company's domestic subsidiaries (other than certain excluded subsidiaries). The Company intends to use the net proceeds from the proposed Notes offering to repay borrowings under its revolving credit facility incurred to fund the repurchase of $200 million of its outstanding shares of common stock completed in June 2025 and the repurchase or repayment of a portion of its outstanding 0.00% Convertible Senior Notes due 2026 at or prior to their maturity on January 1, 2026, and, in each case, to pay related fees and expenses. This Current Report on Form 8-K does not constitute an offer to repurchase the Company's outstanding 0.00% Convertible Senior Notes due 2026.

A copy of the press release issued in connection therewith is attached hereto as Exhibit 99.1. The Notes and the related subsidiary guarantees were offered in the United States to persons reasonably believed to be qualified institutional buyers in an offering exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to persons outside of the United States in compliance with Regulation S under the Securities Act.

**<u>Item 9.01. Financial Statements and Exhibits.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(d) Exhibits.* 

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| | |
|:---|:---|
| **<u>Exhibit No.</u>** | **<u>Description</u>** |
| 99.1 | <u>[Press Release, dated June 30, 2025.](pressrelease20250630notesp.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| | | **Vail Resorts, Inc.** |
| Date: June 30, 2025 | By: | <br>/s/ Angela A. Korch |
|  |  | Angela A. Korch |
|  |  | Executive Vice President and Chief Financial Officer |

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## Exhibit 99.1

**Exhibit 99.1**

![vaila.jpg](vaila.jpg)

**Vail Resorts Contacts:**

Investor Relations: Jack McCarthy, <u>InvestorRelations@vailresorts.com</u>&nbsp;&nbsp;&nbsp;&nbsp;

Media: Sara Olson, <u>News@vailresorts.com</u>

**<u>Vail Resorts Announces Pricing of Senior Notes Offering</u>**

BROOMFIELD, Colo. – June 30, 2025 - Vail Resorts, Inc. (NYSE: MTN) today announced the pricing of its previously announced senior notes offering. The Company priced $500 million in aggregate principal amount of 5.625% senior notes due 2030 at par (the "Notes"). The offering of the Notes was upsized from the originally announced aggregate principal amount of $400 million. The Notes offering is expected to close on July 2, 2025, subject to customary closing conditions. The Notes will be unsecured senior obligations of the Company and will be guaranteed by certain of the Company's domestic subsidiaries (other than certain excluded subsidiaries).

The Company intends to use the proceeds from the proposed offering to repay borrowings under its revolving credit facility incurred to fund the repurchase of $200 million of its outstanding shares of common stock completed in June 2025 and the repurchase or repayment of a portion of its outstanding 0.00% Convertible Senior Notes due 2026 at or prior to their maturity on January 1, 2026, and, in each case, to pay related fees and expenses. This press release does not constitute an offer to repurchase the Company's outstanding 0.00% Convertible Senior Notes due 2026.

The Notes and the related subsidiary guarantees are being offered to persons reasonably believed to be qualified institutional buyers in an offering exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons outside of the United States in compliance with Regulation S under the Securities Act. The Notes and the related subsidiary guarantees have not been registered under the Securities Act, or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

This press release is not an offer to sell or a solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

**<u>About Vail Resorts, Inc. (NYSE: MTN)</u>**

Vail Resorts is a network of the best destination and close-to-home ski resorts in the world including Vail Mountain, Breckenridge, Park City Mountain, Whistler Blackcomb, Stowe, and 32 additional resorts across North America; Andermatt-Sedrun and Crans-Montana Mountain Resort in Switzerland; and Perisher, Hotham, and Falls Creek in Australia. We are passionate about providing an Experience of a Lifetime to our team members and guests, and our EpicPromise is to reach a zero net operating footprint by 2030, support our employees and communities, and broaden engagement in our sport. Our company owns and/or manages a collection of elegant hotels under the RockResorts brand, a portfolio of vacation rentals, condominiums

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and branded hotels located in close proximity to our mountain destinations, as well as the Grand Teton Lodge Company in Jackson Hole, Wyo. Vail Resorts Retail operates more than 250 retail and rental locations across North America.

**<u>Forward-Looking Statements</u>**

Certain statements discussed in this press release, other than statements of historical information, are forward-looking statements within the meaning of the federal securities laws. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include but are not limited to unanticipated developments that prevent, delay or negatively impact the offering and other financial, operational and legal risks and uncertainties detailed from time to time in the Company's cautionary statements contained in its filings with the Securities and Exchange Commission. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. All forward-looking statements in this press release are made as of the date hereof and we do not undertake any obligation to update any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by law. There can be no assurance that the proposed offering will be completed as anticipated or at all.

<br>