Vail renominates its sitting board, puts Matthew Prince in the middle of the fight

“The Board does NOT endorse any of the Oasis Nominees or the Meyer Nominee and strongly urges you NOT to vote using any materials sent to you by Oasis or Meyer.”

PARK CITY, Utah — Vail Resorts (NYSE: MTN) filed its response to a hedge fund’s campaign for board seats on Monday, Oct. 19, asking shareholders to elect nine directors who already sit on its board and placing Park City billionaire Matthew Prince at the center of its account of how the fight developed.

The filing cites Prince’s posts, interviews and radio appearances repeatedly. It does not say that he and the hedge fund, Oasis Management, worked together. Prince has said publicly that activist investors contacted him about Vail, and the filing repeats that, but it never identifies Oasis as one of them.

Who is on each ballot

Shareholders of the company that runs Park City Mountain will choose between two ballots.

Vail wants votes on a white card for Reginald Chambers, Bill Hornbuckle, CEO Rob Katz, Iris Knobloch, Nadia Rawlinson, Michele Romanow, Hilary Schneider, Bruce Sewell and Peter Vaughn. “Each of the Company Nominees is currently a director of the Company,” the filing states. Eight were elected by shareholders last December. Hornbuckle, the CEO of MGM Resorts International, joined the board in August.

Oasis is asking for votes on a blue card for four candidates: Park City Olympic champion Picabo Street, former Walt Disney Co. CEO Robert Chapek, investor M. Ashton Hudson and venture capitalist Bryce Roberts.

Vail’s position on them is blunt. “The Board does NOT endorse any of the Oasis Nominees or the Meyer Nominee and strongly urges you NOT to vote using any materials sent to you by Oasis or Meyer.” the company tells shareholders in a letter opening the filing, using its own capitalization. Elsewhere it urges shareholders to “discard and NOT to vote using any BLUE proxy card.”

What the filing says about Prince

Vail describes Prince as the CEO of Cloudflare who has been interested in buying Park City Mountain Resort since May 2025, has been “highly critical of the Company,” and “regularly reiterates his desire to buy Park City Mountain Resort from the Company.”

Timeline of Prince’s public comments:

• March 18, 2026: A post on X listing steps that begins, “1. Find an activist to target Vail 2. Have them take over the Board.”
• June 18, 2026: A Semafor article reporting Prince would invest $500 million in the resort, had received calls from activist investors about the company, and favored an asset-light model.
• Aug. 31, 2026: A Park City radio appearance in which he called himself a “crazy person . . . willing to come in and invest in a ton of money.”
• Sept. 1, 2026: A post reading, “Turns out I can cause trouble for Vail without even Tweeting!”
• Sept. 11, 2026: A clip captioned “I love it when a plan comes together,” posted in reply to a post about the Oasis nominations.
  The filing also recounts an October 2025 meeting in which Oasis raised Prince and expressed surprise that he was still seeking support from an activist investor.

Prince told KPCW he sent around 12 names to Oasis, including Street and Roberts. He said, “any of them would have brought an improvement to Vail’s current board,” but he “had no influence over who Oasis decided to move forward with.”

Separately, it says Katz addressed calls to sell the resort on a June 24 podcast, stating that Vail operates Park City Mountain under a 300-year lease, does not own it outright and does not have the right to sell it. In a July 14 interview, Katz said no shareholders had proposed a divestiture.

What’s next

Vail typically holds its annual meeting in early December, most recently on Dec. 9, 2025. This year’s date has not been announced. Results are usually announced at the meeting.