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.

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