Gregory S. Meyer has filed a preliminary proxy statement seeking election to the Board of Directors of Vail Resorts, Inc. This move comes amid growing concerns about the company’s financial performance and governance. Meyer argues that the company has not been meeting its potential, as reflected in its declining stock value and operational metrics. His candidacy aims to bring a stronger independent voice to the board, focusing on improving how the resorts serve guests and manage capital.

Vail Resorts, founded in 1957, operates a network of mountain resorts and is recognized for its leading season pass offerings. The company has faced significant challenges in recent years, with its Resort Reported EBITDA in fiscal 2026 reported to be 11% lower than in fiscal 2022. Meyer points out that despite investing approximately $1.4 billion in capital expenditures and acquisitions over the past five years, the company’s return on invested capital has fallen from 14.0% to 9.0%.

The preliminary proxy statement, filed on October 30, 2026, highlights several key issues. Meyer emphasizes the need for a more effective management of the balance sheet and capital allocation. He believes that his extensive experience in operations and finance positions him as a valuable candidate for the board. Meyer is self-funded and unaffiliated with outside investment funds, which he argues would allow him to provide an independent perspective on the board.

In the filing, Meyer urges shareholders to vote for him using the enclosed GOLD proxy card, indicating that he aims to ensure the company’s significant future potential is realized. The upcoming 2026 Annual Meeting of Stockholders is set to be held virtually, where shareholders will vote on several matters, including the election of directors.

Shareholders will have the opportunity to vote on various proposals, including the election of Meyer and the ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending July 31, 2027. Meyer’s candidacy is part of a broader effort to address the perceived shortcomings in Vail Resorts’ current governance and operational strategies.

As the situation develops, it remains to be seen how shareholders will respond to Meyer’s campaign and whether his proposed changes will gain traction within the company. The filing does not specify what happens next, but the outcome of the vote could significantly impact Vail Resorts’ strategic direction and governance.