[8-K] MGM RESORTS INTERNATIONAL Reports Material Event
MGM Resorts amended Corey Sanders’ employment agreement to extend his term as Chief Operating Officer through December 31, 2025 with no change to his salary, target bonus or equity eligibility during that period. After the COO term, Mr. Sanders will remain employed as Senior Advisor to the CEO and President through December 31, 2026 to assist the CEO as requested. During the advisory period the company will pay a monthly salary of $25,000 and provide a potential bonus opportunity of up to $200,000, along with other benefits described in the amendment. A press release about his retirement and transition was issued on September 5, 2025. The filing attaches the full amendment as Exhibit 10.1 and a press release as Exhibit 99.1.
MGM Resorts ha modificato il contratto di lavoro di Corey Sanders prorogando il suo incarico come Chief Operating Officer fino al 31 dicembre 2025, senza variazioni di stipendio, bonus target o idoneit脿 all鈥檈quity per quel periodo. Al termine del mandato da COO, il sig. Sanders rester脿 impiegato come Senior Advisor to the CEO and President fino al 31 dicembre 2026 per assistere il CEO su richiesta. Durante il periodo di consulenza la societ脿 corrisponder脿 un salario mensile di $25.000 e potr脿 riconoscergli un bonus fino a $200.000, oltre ad altri benefici descritti nell鈥檈mendamento. Un comunicato stampa sul suo pensionamento e sulla transizione 猫 stato pubblicato il 5 settembre 2025. La documentazione allega l鈥檈mendamento completo come Exhibit 10.1 e il comunicato stampa come Exhibit 99.1.
MGM Resorts enmend贸 el contrato laboral de Corey Sanders para prorrogar su mandato como Chief Operating Officer hasta el 31 de diciembre de 2025, sin cambios en su salario, bono objetivo ni elegibilidad de acciones durante ese periodo. Tras el periodo como COO, el Sr. Sanders continuar谩 empleado como Senior Advisor to the CEO and President hasta el 31 de diciembre de 2026 para asistir al CEO cuando se le solicite. Durante el periodo de asesor铆a la compa帽铆a pagar谩 un salario mensual de $25,000 y podr谩 otorgarle un bono de hasta $200,000, junto con otros beneficios descritos en la enmienda. Se emiti贸 un comunicado de prensa sobre su jubilaci贸n y transici贸n el 5 de septiembre de 2025. El expediente adjunta la enmienda completa como Exhibit 10.1 y el comunicado como Exhibit 99.1.
MGM Resorts電� Corey Sanders鞚� 瓿犾毄 瓿勳暯鞚� 靾橃爼頃橃棳 攴戈皜 2025雲� 12鞗� 31鞚�旯岇 斓滉碃鞖挫榿毂呾瀯鞛�(Chief Operating Officer)搿� 鞛瀯頃橂弰搿� 旮瓣皠鞚� 鞐办灔頄堨溂氅�, 頃措嫻 旮瓣皠 霃欖晥 旮夓棳, 氇╉憸 氤措剤鞀� 霕愲姅 欤检嫕 鞛愱博鞐愲姅 氤�瓴届澊 鞐嗢姷雼堧嫟. COO 鞛勱赴 膦呺 頉� Sanders 鞌姅 2026雲� 12鞗� 31鞚�旯岇 Senior Advisor to the CEO and President搿� 鞛頃橂┌ 頃勳殧 鞁� CEO毳� 歆�鞗愴暕雼堧嫟. 鞛愲 旮瓣皠 霃欖晥 須岇偓電� 鞗旉笁 $25,000鞚� 歆�旮夗晿瓿� 斓滊寑 $200,000鞚� 氤措剤鞀� 旮绊殞毳� 鞝滉车頃橂┌, 旮绊儉 氤惦Μ頉勳儩鞚� 靾橃爼鞎堨棎 氇呾嫓霅橃柎 鞛堨姷雼堧嫟. 攴胳潣 鞚�韲� 氚� 鞚搓磤鞐� 甏�頃� 氤措弰鞛愲電� 2025雲� 9鞗� 5鞚�鞐� 氚滍憸霅橃棃鞀惦媹雼�. 鞝滌稖 靹滊鞐愲姅 靾橃爼鞎� 鞝勳泊臧� Exhibit 10.1搿�, 氤措弰鞛愲臧� Exhibit 99.1搿� 觳秬霅橃柎 鞛堨姷雼堧嫟.
MGM Resorts a modifi茅 le contrat de travail de Corey Sanders pour prolonger son mandat de Chief Operating Officer jusqu'au 31 d茅cembre 2025, sans changement de salaire, de prime cible ni d'admissibilit茅 aux actions pendant cette p茅riode. 脌 l'issue de la fonction de COO, M. Sanders restera employ茅 en tant que Senior Advisor to the CEO and President jusqu'au 31 d茅cembre 2026 afin d'assister le PDG sur demande. Pendant la p茅riode de conseil, la soci茅t茅 versera un salaire mensuel de 25 000 $ et offrira une opportunit茅 de prime pouvant atteindre 200 000 $, ainsi que d'autres avantages d茅crits dans l'amendement. Un communiqu茅 de presse concernant sa retraite et sa transition a 茅t茅 publi茅 le 5 septembre 2025. Le d茅p么t joint l'amendement complet en tant qu'Exhibit 10.1 et le communiqu茅 en tant qu'Exhibit 99.1.
MGM Resorts hat den Arbeitsvertrag von Corey Sanders ge盲ndert und seine Amtszeit als Chief Operating Officer bis zum 31. Dezember 2025 verl盲ngert, ohne 脛nderungen an Gehalt, Zielbonus oder Aktienberechtigung f眉r diesen Zeitraum. Nach der COO-Periode bleibt Herr Sanders bis zum 31. Dezember 2026 als Senior Advisor to the CEO and President besch盲ftigt, um den CEO auf Anfrage zu unterst眉tzen. W盲hrend der Beratungsphase zahlt das Unternehmen ein Monatsgehalt von $25.000 und bietet eine m枚gliche Bonuszahlung von bis zu $200.000 sowie weitere in der 脛nderung beschriebenen Leistungen. Eine Pressemitteilung 眉ber seinen Ruhestand und den 脺bergang wurde am 5. September 2025 ver枚ffentlicht. Die Einreichung f眉gt die vollst盲ndige 脛nderung als Exhibit 10.1 und die Pressemitteilung als Exhibit 99.1 bei.
- COO term formally extended to December 31, 2025, providing leadership continuity
- Advisory employment defined through December 31, 2026 with specified cash compensation
- Compensation clarity: advisory pay set at $25,000/month and up to $200,000 bonus
- Full amendment attached as Exhibit 10.1 and press release furnished as Exhibit 99.1
- None.
Insights
TL;DR: Agreement formalizes transition and specifies advisory compensation, limiting changes during the COO extension.
The amendment documents a managed leadership transition by extending the COO role to year-end and then converting the executive to a formal advisory role through the following year. The filing explicitly states there are no changes to salary, target bonus or equity eligibility while Mr. Sanders remains COO, preserving existing compensation terms. The advisory term includes clear cash compensation: $25,000 monthly and up to $200,000 in bonus potential, plus additional benefits referenced in the amendment. This structured sequence reduces ambiguity about post-COO compensation and duties by memorializing the advisory arrangement.
TL;DR: The filing sets defined cash payments for a post-COO advisory role while keeping COO pay unchanged during the extension.
The document provides precise cash metrics for the advisory period, which aids transparency: $25,000/month and a $200,000 maximum bonus. It also confirms the COO extension ends on December 31, 2025 and the advisory term runs through December 31, 2026. The amendment is attached as Exhibit 10.1 for full detail, enabling review of any additional benefits or provisions. Overall, the disclosure is straightforward and focused on contractual terms rather than operational performance.
MGM Resorts ha modificato il contratto di lavoro di Corey Sanders prorogando il suo incarico come Chief Operating Officer fino al 31 dicembre 2025, senza variazioni di stipendio, bonus target o idoneit脿 all鈥檈quity per quel periodo. Al termine del mandato da COO, il sig. Sanders rester脿 impiegato come Senior Advisor to the CEO and President fino al 31 dicembre 2026 per assistere il CEO su richiesta. Durante il periodo di consulenza la societ脿 corrisponder脿 un salario mensile di $25.000 e potr脿 riconoscergli un bonus fino a $200.000, oltre ad altri benefici descritti nell鈥檈mendamento. Un comunicato stampa sul suo pensionamento e sulla transizione 猫 stato pubblicato il 5 settembre 2025. La documentazione allega l鈥檈mendamento completo come Exhibit 10.1 e il comunicato stampa come Exhibit 99.1.
MGM Resorts enmend贸 el contrato laboral de Corey Sanders para prorrogar su mandato como Chief Operating Officer hasta el 31 de diciembre de 2025, sin cambios en su salario, bono objetivo ni elegibilidad de acciones durante ese periodo. Tras el periodo como COO, el Sr. Sanders continuar谩 empleado como Senior Advisor to the CEO and President hasta el 31 de diciembre de 2026 para asistir al CEO cuando se le solicite. Durante el periodo de asesor铆a la compa帽铆a pagar谩 un salario mensual de $25,000 y podr谩 otorgarle un bono de hasta $200,000, junto con otros beneficios descritos en la enmienda. Se emiti贸 un comunicado de prensa sobre su jubilaci贸n y transici贸n el 5 de septiembre de 2025. El expediente adjunta la enmienda completa como Exhibit 10.1 y el comunicado como Exhibit 99.1.
MGM Resorts電� Corey Sanders鞚� 瓿犾毄 瓿勳暯鞚� 靾橃爼頃橃棳 攴戈皜 2025雲� 12鞗� 31鞚�旯岇 斓滉碃鞖挫榿毂呾瀯鞛�(Chief Operating Officer)搿� 鞛瀯頃橂弰搿� 旮瓣皠鞚� 鞐办灔頄堨溂氅�, 頃措嫻 旮瓣皠 霃欖晥 旮夓棳, 氇╉憸 氤措剤鞀� 霕愲姅 欤检嫕 鞛愱博鞐愲姅 氤�瓴届澊 鞐嗢姷雼堧嫟. COO 鞛勱赴 膦呺 頉� Sanders 鞌姅 2026雲� 12鞗� 31鞚�旯岇 Senior Advisor to the CEO and President搿� 鞛頃橂┌ 頃勳殧 鞁� CEO毳� 歆�鞗愴暕雼堧嫟. 鞛愲 旮瓣皠 霃欖晥 須岇偓電� 鞗旉笁 $25,000鞚� 歆�旮夗晿瓿� 斓滊寑 $200,000鞚� 氤措剤鞀� 旮绊殞毳� 鞝滉车頃橂┌, 旮绊儉 氤惦Μ頉勳儩鞚� 靾橃爼鞎堨棎 氇呾嫓霅橃柎 鞛堨姷雼堧嫟. 攴胳潣 鞚�韲� 氚� 鞚搓磤鞐� 甏�頃� 氤措弰鞛愲電� 2025雲� 9鞗� 5鞚�鞐� 氚滍憸霅橃棃鞀惦媹雼�. 鞝滌稖 靹滊鞐愲姅 靾橃爼鞎� 鞝勳泊臧� Exhibit 10.1搿�, 氤措弰鞛愲臧� Exhibit 99.1搿� 觳秬霅橃柎 鞛堨姷雼堧嫟.
MGM Resorts a modifi茅 le contrat de travail de Corey Sanders pour prolonger son mandat de Chief Operating Officer jusqu'au 31 d茅cembre 2025, sans changement de salaire, de prime cible ni d'admissibilit茅 aux actions pendant cette p茅riode. 脌 l'issue de la fonction de COO, M. Sanders restera employ茅 en tant que Senior Advisor to the CEO and President jusqu'au 31 d茅cembre 2026 afin d'assister le PDG sur demande. Pendant la p茅riode de conseil, la soci茅t茅 versera un salaire mensuel de 25 000 $ et offrira une opportunit茅 de prime pouvant atteindre 200 000 $, ainsi que d'autres avantages d茅crits dans l'amendement. Un communiqu茅 de presse concernant sa retraite et sa transition a 茅t茅 publi茅 le 5 septembre 2025. Le d茅p么t joint l'amendement complet en tant qu'Exhibit 10.1 et le communiqu茅 en tant qu'Exhibit 99.1.
MGM Resorts hat den Arbeitsvertrag von Corey Sanders ge盲ndert und seine Amtszeit als Chief Operating Officer bis zum 31. Dezember 2025 verl盲ngert, ohne 脛nderungen an Gehalt, Zielbonus oder Aktienberechtigung f眉r diesen Zeitraum. Nach der COO-Periode bleibt Herr Sanders bis zum 31. Dezember 2026 als Senior Advisor to the CEO and President besch盲ftigt, um den CEO auf Anfrage zu unterst眉tzen. W盲hrend der Beratungsphase zahlt das Unternehmen ein Monatsgehalt von $25.000 und bietet eine m枚gliche Bonuszahlung von bis zu $200.000 sowie weitere in der 脛nderung beschriebenen Leistungen. Eine Pressemitteilung 眉ber seinen Ruhestand und den 脺bergang wurde am 5. September 2025 ver枚ffentlicht. Die Einreichung f眉gt die vollst盲ndige 脛nderung als Exhibit 10.1 und die Pressemitteilung als Exhibit 99.1 bei.
FAQ
What change to Corey Sanders' role did MGM (MGM) disclose in the 8-K?
Will Mr. Sanders' salary or equity awards change during the extended COO term?
What compensation will Mr. Sanders receive during the advisory employment term?
When did MGM issue a press release about the transition?
Where can I find the full terms of the amendment?
