BROOMFIELD — The chairman and CEO of Vail Resorts Inc. (NYSE: MTN), Rob Katz, will contribute 100 percent of recently exercised stock-appreciation rights to his family’s charitable foundation and donor-advised fund. The donation totals $31 million.
Katz’s stock-appreciation rights were set to expire. After withholding taxes, he received approximately 113,000 shares of Vail Resorts stock. Katz donated 67,800 shares and sold 45,200 shares, and will donate 100 percent of the proceeds from the sale.
Last year, Katz announced a similar exercise and donated about $58 million to a new donor fund. That fund was set up to address mental and behavioral health and alcohol and drug abuse in the mountain resort communities in which Vail Resorts operates.
Katz and his wife, Elana Amsterdam, announced this week several grants to nonprofits. They are:
- $150,000 to The Other Side Academy in Denver, a nonprofit that serves as a school for people facing issues with addiction and criminal behavior. The school attempts to establish work skills so that its students can come out successfully on “the other side.”
- $150,000 to the Environmental Defense Fund to promote innovation and advocacy for clean-energy systems.
- $150,000 to the Fund for a Safer Future, a nonprofit that looks for evidence-based strategies to reduce gun injuries and deaths.