Rob Katz, chairman and CEO of Vail Resorts Inc., plans to create a charitable fund to support programs in mountain communities.
The Broomfield-based company (NYSE: MTN) announced Katz’s plans Monday.
Katz plans to finance the “donor-advised fund … from the shares and proceeds he will receive from exercising Vail Resorts share appreciation rights (SARs) that are approaching their 10-year expiration date” over the next 18 months, the company’s announcement said.
A donor-advised fund typically is a tax-deductible donation to a charity which then distributes funds to other charities over time at the donor’s direction.
Read more at the Denver Business Journal: http://bit.ly/2ym8MSP