United Parks & Resorts announces $500M share repurchase program

United Parks & Resorts reported that on Wednesday September 3, its stockholders approved a $500M buyback authorization. United Parks & Resorts held a Special Meeting of Stockholders to approve and authorize a new $500M share repurchase program of the company’s common stock, subject to the qualification that the company will not repurchase additional shares if Hill Path’s common stock ownership interest percentage would, as a result of any such repurchase, equal or exceed 70%. The Share Repurchase Proposal required approval by the holders of a majority of the shares of the company’s common stock outstanding and entitled to vote as of the record date other than shares beneficially owned by Hill Path and its affiliates.