IAC boosts MGM Resorts (NYSE: MGM) stake with 1M-share open-market buy

Rhea-AI Filing Summary

IAC Inc., a more than ten percent owner of MGM Resorts International, reported open-market purchases of a total of 1,000,000 shares of common stock. It bought 550,000 shares on March 23, 2026 at $37.30 per share and 450,000 shares on March 24, 2026 at $37.13 per share.

After these transactions, IAC directly owned 66,822,350 MGM shares. The filing notes that the reported prices are weighted averages, with actual trade prices ranging from $36.26 to $37.94.

Insights

Equity market structure analyst

A 10% owner added 1,000,000 MGM shares in open-market buys.

IAC Inc., identified as a more than ten percent owner of MGM Resorts International, executed two open-market purchases totaling 1,000,000 common shares at prices near $37. These are straightforward cash purchases, with no derivatives or structured features reported.

Following the trades, IAC's direct holdings rose to 66,822,350 shares, so the additional shares modestly increase an already large position. The filing specifies that reported per-share prices are weighted averages, with individual trades executed between $36.26 and $37.94, indicating accumulation across a relatively tight price band.

There is no reference in the available data to option exercises, tax withholding, or Rule 10b5-1 trading plans, so the transactions appear as discretionary open-market buying. Any broader impact depends on MGM's overall share count and future disclosures about IAC's strategic intentions.

Insider Trade Summary

Net Buyer: 1,000,000 shares ($37,223,500)

Net Buy 2 txns

Insider IAC Inc.

Role 10% Owner

Bought 1,000,000 shs ($37.22M)

Type	Security	Shares	Price	Value
Purchase	Common Stock, par value $0.01	450,000	$37.13	$16.71M
Purchase	Common Stock, par value $0.01	550,000	$37.30	$20.52M

Holdings After Transaction: Common Stock, par value $0.01 — 66,822,350 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

IAC Inc.

(Last) (First) (Middle)

555 WEST 18TH STREET

(Street)

NEW YORK NEW YORK 10011

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
MGM Resorts International [ MGM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/23/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.01	03/23/2026		P		550,000	A	$37.3(1)	66,372,350	D
Common Stock, par value $0.01	03/24/2026		P		450,000	A	$37.13(1)	66,822,350	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $36.26 to $37.94, inclusive.

	/s/ Kyra Ayo Caros, Associate General Counsel and Assistant Secretary	03/25/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did IAC Inc. report in its latest Form 4 for MGM (MGM)?

IAC Inc. reported buying a total of 1,000,000 MGM Resorts International common shares in open-market transactions. The purchases occurred on March 23 and 24, 2026, and increased IAC’s direct holdings to 66,822,350 shares following the most recent trade.

How many MGM shares did IAC Inc. buy and at what prices?

IAC Inc. bought 550,000 MGM shares at $37.30 on March 23, 2026, and 450,000 shares at $37.13 on March 24, 2026. The filing notes weighted average prices, with actual trades ranging from $36.26 to $37.94 per share during accumulation.

What is IAC Inc.’s total MGM shareholding after these Form 4 transactions?

After the reported purchases, IAC Inc. directly owns 66,822,350 shares of MGM Resorts International common stock. This figure comes from the Form 4’s post-transaction ownership column and reflects only the direct holdings disclosed in this specific insider filing.

Were IAC Inc.’s MGM share purchases part of a derivative or option exercise?

No, the transactions are reported as non-derivative common stock purchases with code “P,” indicating open-market or private buy orders. The derivative section of the filing is empty, so there is no associated option exercise or conversion activity disclosed in this Form 4.

Does the IAC Inc. Form 4 for MGM (MGM) mention a Rule 10b5-1 trading plan?

The available Form 4 data do not reference a Rule 10b5-1 trading plan. The filing instead describes standard open-market purchases, with a footnote only clarifying that reported prices are weighted averages across trades between $36.26 and $37.94 per share.