Oasis is aggressively accumulating shares and building a proxy slate, signaling high conviction and a timeline targeting the 2026 annual meeting. Watch for the company's response — either a settlement (board seats) or a contested proxy vote. The next catalyst is the company's recommended director slate and any potential poison pill or bylaw amendments.
Price Chart
Executive Summary
Oasis Management filed an amended Schedule 13D on September 22, 2026, disclosing an increased stake in Vail Resorts to 7.4% (2,623,912 shares) from a prior 6.9% (2,200,366 shares). Since the original filing on September 16, Oasis purchased an additional 423,546 shares at an average price of ~$139.20, investing ~$59 million. This accumulation, combined with the recent nomination of four director candidates and a signed agreement with former Disney CEO Bob Chapek, signals an escalating proxy contest ahead of the 2026 annual meeting.
Key Financial Metrics
Key Facts
- Oasis Management increased its stake in Vail Resorts from 6.9% to 7.4% of common stock outstanding.
- Since the original Schedule 13D on September 16, Oasis purchased 423,546 shares at ~$139.20/share, investing ~$59 million.
- Total cost basis for Oasis's entire 2,622,562-share position is approximately $373 million.
- Oasis has nominated four director candidates (Robert Chapek, M. Ashton Hudson, Bryce Roberts, Picabo Street) and signed a consulting agreement with Chapek paying $100,000/month plus a $500,000 forgivable loan for share purchases.
- The activist group now holds 2,623,912 shares (including 1,350 shares held by M. Ashton Hudson).
- The filing amends Items 3 and 5(a)-(c) of the original Schedule 13D, updating transaction details and beneficial ownership.
Financial Impact
Oasis deployed ~$59 million in new capital over three trading days (Sept 16-18) at ~$139.20/share, increasing its aggregate cost basis to ~$373 million for a 7.4% stake.
Risk Factors
- Proxy contest could be costly and distracting for management, potentially weighing on near-term sentiment.
- Oasis's demands for governance changes and strategic review may pressure the stock if the company resists.
- Increased leverage from margin accounts used to fund purchases adds risk if the stock declines.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13D/A Filing (Primary) | 0000902664-26-003894 |
| Document: 0000902664-26-003894-index-headers.html | 0000902664-26-003894 |
| Document: 0000902664-26-003894-index.html | 0000902664-26-003894 |
| Document: 0000902664-26-003894.txt | 0000902664-26-003894 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | 8-K | $150.54 | awaiting T+5 | — | $150.82 (+0.18%) |
Oct 19, 2026 7d ago | PREC14A | $150.54 | awaiting T+5 | — | $150.82 (+0.18%) |
Oct 16, 2026 10d ago | DEFA14A | $150.97 $147.07 | ▼ −2.58% | ▼ −2.44% | $150.82 (−0.10%) |
Sep 28, 2026 28d ago | Press Release | $141.29 $145.20 | ▲ +2.77% | ▲ +0.82% | $150.82 (+6.74%) |
Sep 22, 2026 5w ago | SC 13D/A | $136.85 $139.12 | ▼ −1.66% | ▼ −2.85% | $150.82 (−10.21%) |
Sep 16, 2026 5w ago | SC 13D | $140.12 $140.05 | ▼ −0.05% | ▼ −1.87% | $150.82 (+7.64%) |
Sep 11, 2026 6w ago | DEFA14A | $140.09 $139.80 | ▲ +0.21% | ▼ −0.01% | $150.82 (−7.66%) |
Sep 2, 2026 7w ago | 8-K | $136.06 $140.09 | ▲ +2.96% | ▲ +4.11% | $150.82 (+10.85%) |
Jun 8, 2026 20w ago | 8-K | $131.26 $134.40 | ▼ −2.39% | ▲ +0.02% | $150.82 (−14.90%) |
Apr 23, 2026 26w ago | 8-K | $123.43 $122.16 | ▲ +1.03% | ▲ +2.51% | $150.82 (−22.19%) |
US Market Status
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