United Parks & Resorts Inc. Names New Directors, CEO/CFO Compensation
Ticker: PRKS · Form: 8-K · Filed: Sep 18, 2024 · CIK: 1564902
| Field | Detail |
|---|---|
| Company | United Parks & Resorts Inc. (PRKS) |
| Form Type | 8-K |
| Filed Date | Sep 18, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01, $260,000, $100,000 b, $300,000 b, $200,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-compensation, board-changes, management
TL;DR
New directors appointed, CEO/CFO get new pay deals at United Parks & Resorts.
AI Summary
United Parks & Resorts Inc. announced on September 12, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Christopher L. Brown and David M. Barudin, to its board. Additionally, the company entered into new employment agreements with its Chief Executive Officer, Marc G. Swanson, and Chief Financial Officer, Scott G. Powers, effective September 12, 2024, detailing their compensation packages.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in executive leadership and board composition can introduce uncertainty regarding future strategy and operational direction.
Key Players & Entities
- United Parks & Resorts Inc. (company) — Registrant
- Christopher L. Brown (person) — Newly elected director
- David M. Barudin (person) — Newly elected director
- Marc G. Swanson (person) — Chief Executive Officer
- Scott G. Powers (person) — Chief Financial Officer
- September 12, 2024 (date) — Effective date of board changes and new employment agreements
FAQ
Who were the new directors elected to the board of United Parks & Resorts Inc.?
Christopher L. Brown and David M. Barudin were elected as new directors.
What is the effective date for the new employment agreements?
The new employment agreements for the CEO and CFO are effective as of September 12, 2024.
What positions do Marc G. Swanson and Scott G. Powers hold?
Marc G. Swanson is the Chief Executive Officer and Scott G. Powers is the Chief Financial Officer.
What type of filing is this for United Parks & Resorts Inc.?
This is a Form 8-K, a current report filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
What was the former name of United Parks & Resorts Inc.?
The former name of the company was SeaWorld Entertainment, Inc.
Filing Stats: 1,040 words · 4 min read · ~3 pages · Grade level 12.2 · Accepted 2024-09-18 07:00:11
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share PRKS New York Stock Excha
- $260,000 — l receive: (i) an annual base salary of $260,000; (ii) an annual bonus opportunity with
- $100,000 b — umber of Options determined by dividing $100,000 by the stock price of the Company's commo
- $300,000 b — k Units with a grant date fair value of $300,000 based on the stock price at the close of
- $200,000 — k Units with a grant date fair value of $200,000 and determined in accordance with the C
Filing Documents
- prks-20240912.htm (8-K) — 40KB
- 0000950170-24-107593.txt ( ) — 148KB
- prks-20240912.xsd (EX-101.SCH) — 23KB
- prks-20240912_htm.xml (XML) — 4KB
SIGNATURES
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. UNITED PARKS & RESORTS INC. Date: September 18, 2024 By: /s/ G. Anthony (Tony) Taylor Name: Title: G. Anthony (Tony) Taylor Chief Legal Officer, General Counsel and Corporate Secretary