United Parks & Resorts Inc. (NYSE: PRKS) has recently announced a $500 million share repurchase authorization, following the approval by its stockholders. The company's Chief Executive Officer, Marc Swanson, expressed gratitude for the support of the stockholders and emphasized the company's strong balance sheet and significant free cash flow generation, enabling them to take advantage of what they believe to be an attractive opportunity to invest in their own shares and return capital to their stockholders.
The special meeting of stockholders held on September 3, 2025, resulted in the approval and authorization of a new $500 million share repurchase program of the company's common stock. It is noteworthy that the company will not repurchase additional shares if Hill Path's common stock ownership interest percentage would equal or exceed 70% as a result of any such repurchase.
The share repurchase program is authorized to be executed through open market purchases, privately-negotiated transactions, or otherwise in accordance with applicable federal securities laws, including through rule 10b5-1 trading plans and under rule 10b-18 of the Exchange Act. Importantly, the program has no time limit and may be suspended or discontinued at any time.
United Parks & Resorts Inc. is a global theme park and entertainment company that owns or licenses a diverse portfolio of park brands and experiences. The company's brands span 13 parks in seven markets across the United States and Abu Dhabi, offering a wide range of experiences including thrill and family-friendly rides, wildlife presentations, and various special events throughout the year. Additionally, the company is known for its significant contributions to animal welfare, training, veterinary care, and marine animal rescue over nearly 60 years.
For more information about United Parks & Resorts Inc., visit www.unitedparks.com. Shareholders and prospective investors can also register to automatically receive the company's press releases, SEC filings, and other notices by email by registering on the company's website. Following these announcements, the company's shares moved 0.44%, and are now trading at a price of $54.59. For more information, read the company's full 8-K submission here.
