Le Lézard
Classified in: Tourism and vacations, Health

Vail Resorts' Chairperson Donates $32.5 Million from SARs Exercise; Announces Almost $4.9 Million in Grants to Advance Mental Health Care and Support Racial Justice Efforts

BROOMFIELD, Colo., Dec. 15, 2021 /CNW/ -- Vail Resorts, Inc. (NYSE: MTN) today announced that Executive Chairperson Rob Katz has exercised stock appreciation rights (SARs), and will be making a charitable donation of 100% of the net proceeds he received. After withholding shares for payment of the exercise price and taxes, Katz received 98,209 shares of Vail Resorts stock from the SARs exercise. Based on the net proceeds from the sale of that stock, the donation is equal to approximately $32.5 million. Katz and his wife Elana Amsterdam, New York Times bestselling author and founder of Elana's Pantry, have now donated over $180 million over the past five years to their charitable trust and foundation, representing 100% of the proceeds from their sales of Vail Resorts stock.

In addition, Katz and Amsterdam, via their family's charitable trust, announced charitable grants totaling almost $4.9 million. Of that amount, $2.3 million will be granted to non-profit organizations that support mental and behavioral health in the mountain communities where Vail Resorts operates. The charitable trust also granted over $1 million to non-profits working to expand behavioral health equity to support communities of color in the Western U.S. and almost $1.5 million in grants to support organizations that help promote multiracial civic engagement across the country.

Expanded focus on mental and behavioral health grants:

$2.3 million will be granted to mountain community non-profits dedicated to increasing access to mental and behavioral healthcare with a focus on providing tele-behavioral health services, improving services for those in recovery from drug or substance misuse, and creating more equitable access to care for BIPOC communities within these mountain communities.   

Recipients include:

"Elana and I are so impressed with the work the mountain communities have done to improve mental and behavioral health care over the last several years," said Katz. "While there is still more to do, especially to ensure underserved communities are getting the care they need, the dedication by so many organizations to increasing services and innovating new approaches is inspiring."

Additionally, as part of the nationwide focus on racial justice announced in June 2021, the charitable trust made an additional $1 million in grants that will expand health equity across the western U.S., with emphasis on advancing mental and behavioral health opportunities within BIPOC communities. The Foundation believes that eliminating the stigma and discrimination associated with behavior health issues in communities of color is a critical component of advancing racial justice.   

"Disparities and discrimination in our mental and behavioral healthcare system have led to inequities in access and care for those who are seeking support, creating true injustices in the ability for many communities to benefit from full access to the services they need," said Katz. "We're fortunate to be able to help support the innovative strategies communities are developing to create true equity in our behavioral health systems and approaches."

Recipients include:

Civic engagement grants:

Finally, through almost $1.5 million in grants, the charitable trust will support organizations working to ensure civic engagement by combatting voter suppression measures, reducing barriers for BIPOC communities to vote, and increasing voter participation. 

"We cannot address the broad behavioral health challenges faced by many communities across the United State without systemic policy and legislative changes at the local and national level, and those changes will not be possible without ensuring that all communities are fully and equally participating in our democratic process," said Katz. 

Recipients include: 

About the Katz Amsterdam Foundation

The Katz Amsterdam Foundation strives to be a catalyst for eliminating barriers to health, increasing access to opportunity, and improving outcomes for all. The Foundation believes that everyone benefits from living in healthy and cohesive communities, but access to these benefits is unequal. KAF works in partnership with communities to advance just and equitable approaches to accessing mental and behavioral health care and protect civil rights by increasing civic engagement and participation in a multiracial democracy. The Foundation does this work by addressing systemic injustice and the root causes behind racial gaps in health and well-being. KAF's priority is to support community-driven work that meaningfully improves the lives of individuals and the social well-being of our communities.

About Vail Resorts, Inc. (NYSE: MTN)
Vail Resorts, Inc., through its subsidiaries, is the leading global mountain resort operator. Vail Resorts' subsidiaries operate 37 destination mountain resorts and regional ski areas, including Vail, Beaver Creek, Breckenridge, Keystone and Crested Butte in Colorado; Park City in Utah; Heavenly, Northstar and Kirkwood in the Lake Tahoe area of California and Nevada; Whistler Blackcomb in British Columbia, Canada; Perisher, Falls Creek and Hotham in Australia; Stowe, Mount Snow, Okemo in Vermont; Hunter Mountain in New York; Mount Sunapee, Attitash, Wildcat and Crotched in New Hampshire; Stevens Pass in Washington; Liberty, Roundtop, Whitetail, Jack Frost and Big Boulder in Pennsylvania; Alpine Valley, Boston Mills, Brandywine and Mad River in Ohio; Hidden Valley and Snow Creek in Missouri; Wilmot in Wisconsin; Afton Alps in Minnesota; Mt. Brighton in Michigan; and Paoli Peaks in Indiana. Vail Resorts owns and/or manages a collection of casually elegant hotels under the RockResorts brand, as well as the Grand Teton Lodge Company in Jackson Hole, Wyo. Vail Resorts Development Company is the real estate planning and development subsidiary of Vail Resorts, Inc. Vail Resorts is a publicly held company traded on the New York Stock Exchange (NYSE: MTN). The Vail Resorts company website is www.vailresorts.com and consumer website is www.snow.com.

Vail Resorts Logo (PRNewsFoto/Vail Resorts, Inc.) (PRNewsfoto/Vail Resorts, Inc.)


SOURCE Vail Resorts, Inc.

These press releases may also interest you

at 13:30
CIVCO Radiotherapy and Qfix announced today the launch of a new brand, CQ Medical. This brand reflects the company's vision and global leadership in high-quality, patient-centric radiotherapy solutions and more than 80 years of combined experience....

at 12:24
The University of South Alabama today announced that Providence Hospital and its clinics are now part of USA Health, the university's academic health system. The completion of the acquisition comes six months after the University of South Alabama...

at 10:00
One of Canada's longest running and top fundraising events will be taking place in Montréal, QC, Toronto, ON and Calgary, AB on October 5, 12 and 19, respectively. The Sun Life Ride to Defeat Diabetes for JDRF is a high-energy event that sees...

at 09:45
Today, the Minister for Seniors, Seamus O'Regan Jr., issued the following statement: "We live in an aging country. In my home province of Newfoundland and Labrador, nearly one quarter of people are seniors. That is a good thing, and it is our...

at 09:15
The Prime Minister, Justin Trudeau, today issued the following statement on National Seniors Day:                                         "On National Seniors Day, we celebrate seniors and recognize their countless contributions to our country, our...

at 08:30
Integrated Oncology Network (ION) is implementing Fuse Oncology's (Fuse) groundbreaking product, S!GNAL, across its extensive network, following a highly successful trial that demonstrated the quantifiable value of the software. ION's S!GNAL trial...

News published on and distributed by: