IAC Inc. 4

What Happened
IAC Inc., reported as a 10% owner of MGM Resorts International (MGM), made open-market purchases totaling 1,000,000 shares of MGM common stock. On 2026-03-23 IAC acquired 550,000 shares at a weighted-average price of $37.30 ($20,515,000) and on 2026-03-24 it acquired 450,000 shares at a weighted-average price of $37.13 ($16,708,500). Total reported consideration for the two transactions is $37,223,500. These were purchases (a buy) rather than sales.

Key Details

• Transaction type: P = Purchase (open market or private purchase)
• Dates and prices: 2026-03-23 — 550,000 shares @ $37.30 (weighted avg); 2026-03-24 — 450,000 shares @ $37.13 (weighted avg)
• Total shares bought: 1,000,000; Total value: $37,223,500
• Footnote: Reported prices are weighted averages; actual trades occurred at prices ranging from $36.26 to $37.94 (inclusive).
• Shares owned after transaction: Not specified in the provided summary.
• Filing: Form 4 filed 2026-03-25 (Period of Report 2026-03-23); filing appears timely (not marked late).
• Insider status: IAC is reported as a 10% owner (institutional/large shareholder), not an MGM executive.

Context
Purchases by a 10% owner are institutional-level insider activity and can signal accumulation by a large shareholder, but they are not the same as an executive buying or selling. The filing is informational — it reports the buy but does not explain the buyer’s motives.