A 58 million charitable fund has been established by Vail Resorts CEO Rob Katz. The charitable fund will be used to make non-profit grants for mountain community social service organizations. The money comes from the sale of approximately 114,000 shares of Vail Resort stock, which were sold exercising Katz’ share appreciation rights, SAR, and were due to expire within the next 18 months. In addition, Katz will donate 148,000 shares of Vail regular stock directly to the charitable fund.
The grants will be distributed within Katz and his wife, Elana Amsterdam, and will align with the couple’s community priorities to identify and address critical local challenges in mountain communities. Vail has four Colorado mountain resorts: Vail, Beaver Creek, Breckenridge and Keystone. Vail also owns Park City, Heavenly, Northstar, Kirkwood, Whistler, Stowe, Wilmot Mountain, Afton Alps, Mt. Brighton and Perisher in Australia.