Pay vs Performance Disclosure, Table

Pay Versus Performance Disclosure

As required by Section 953(a) of the Dodd-Frank Act and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive “compensation actually paid” and certain financial performance of our Company, illustrating pay versus performance, or PVP.


Year	Summary Compensation Table Total for PEO Speetzen ($)⁽¹⁾	Compensation Actually Paid to PEO Speetzen ($)⁽¹⁾⁽³⁾	Avg. Summary Compensation Table Total for Non-PEO NEOs ($)⁽²⁾	Average Compensation Actually Paid to Non-PEO NEOs ($)⁽²⁾	Value of Initial Fixed $100 Investment Based On:		Net Income ($ in Millions⁽⁵⁾	Adjusted EBITDA ($ in Millions)⁽⁶⁾
Year		Compensation Actually Paid to PEO Speetzen ($)⁽¹⁾⁽³⁾			TSR⁽⁴⁾	S&P 1500 Leisure TSR⁽⁴⁾	Net Income ($ in Millions⁽⁵⁾	Adjusted EBITDA ($ in Millions)⁽⁶⁾
2025	11,144,637	14,526,291	3,977,148	5,026,144	77.64	95.74	(465.5)	538.2
2024	9,026,124	1,115,331	2,980,095	1,221,006	66.94	75.75	110.8	635.4
2023	8,873,477	6,091,505	3,084,958	2,296,051	106.55	88.50	502.8	1,069.2
2022	8,764,103	7,956,973	3,391,580	3,114,271	110.71	84.71	447.1	1,096.9
2021	9,758,906	10,909,327	4,432,529	5,484,661	117.80	121.26	493.9	956.3

Company Selected Measure Name

Adjusted EBITDA

Named Executive Officers, Footnote [Text Block]

(1)

2021-2025 principal executive officer (“PEO”): M. Speetzen

(2)

The non-PEO named executive officers (“NEOs”) reflects the following individuals in each year:
2025: R. Mack, M. Dougherty, B. Duke, and J. Williams
2024: R. Mack, K. Pucel, S. Menneto, S. Eastman, M. Dougherty, and J. Williams
2023: R. Mack, K. Pucel, S. Menneto, and S. Eastman
2022: R. Mack, K. Pucel, S. Menneto, and S. Eastman
2021: R. Mack, K. Pucel, S. Menneto, and L. Clark Dougherty

Peer Group Issuers, Footnote [Text Block]

(4)

For each year, our cumulative Total Shareholder Return (“TSR”) was calculated for a period beginning with our closing price on NYSE on December 31, 2020 through and including the last day of such year (each one-year, two-year, three-year, four-year, and five-year period, a “Measurement Period”), assuming dividend reinvestment. Each of these yearly percentage changes was then applied to a deemed fixed investment of $100 at the beginning of the Measurement Period to produce the year-end value of such investment as of the end of 2025, 2024, 2023, 2022, and 2021, as applicable. Because years are presented in the table in reverse chronological order (from top to bottom), the table should be read from bottom to top for purposes of understanding cumulative returns over time. The peer group TSR set forth in this table utilizes the S&P Composite 1500 Leisure Products Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the year ended December 31, 2025. Historical stock performance is not necessarily indicative of future stock performance.

PEO Total Compensation Amount

$ 11,144,637

$ 9,026,124

$ 8,873,477

$ 8,764,103

$ 9,758,906

PEO Actually Paid Compensation Amount

$ 14,526,291

1,115,331

6,091,505

7,956,973

10,909,327

Adjustment To PEO Compensation, Footnote

(3)

Compensation Actually Paid (“CAP”) illustrated in the table above for 2025 is calculated by making the following adjustments from the Summary Compensation Table (“SCT”) totals as follows:

Item and Value Added (Deducted)	2025
For PEO:		Speetzen
- SCT “Stock Awards” column value	$	3,292,784
- SCT “Option Awards” column value	$	3,661,011
+ Covered Year-end fair value of outstanding equity awards granted in Covered Year	$	10,420,907
+/- change in fair value (from prior year-end to Covered Year-end) of Covered Year-end outstanding equity awards granted prior to Covered Year	$	336,146
+/- change in fair value (from prior year-end to vesting date in Covered Year) of equity awards granted in years prior to Covered Year that vested in Covered Year	$	(421,604)
For Non-PEO Named Executive Officers (Average):
- SCT “Stock Awards” column value	$	1,295,187
- SCT “Option Awards” column value	$	960,007
+ Covered Year-end fair value of outstanding equity awards granted in Covered Year	$	3,329,446
+/- change in fair value (from prior year-end to Covered Year-end) of Covered Year-end outstanding equity awards granted prior to Covered Year	$	72,470
+/- change in fair value (from prior year-end to vesting date in Covered Year) of equity awards granted in years prior to Covered Year that vested in Covered Year	$	(97,726)

Non-PEO NEO Average Total Compensation Amount

$ 3,977,148

2,980,095

3,084,958

3,391,580

4,432,529

Non-PEO NEO Average Compensation Actually Paid Amount

$ 5,026,144

1,221,006

2,296,051

3,114,271

5,484,661

Adjustment to Non-PEO NEO Compensation Footnote

(3)

Compensation Actually Paid (“CAP”) illustrated in the table above for 2025 is calculated by making the following adjustments from the Summary Compensation Table (“SCT”) totals as follows:

Item and Value Added (Deducted)	2025
For PEO:		Speetzen
- SCT “Stock Awards” column value	$	3,292,784
- SCT “Option Awards” column value	$	3,661,011
+ Covered Year-end fair value of outstanding equity awards granted in Covered Year	$	10,420,907
+/- change in fair value (from prior year-end to Covered Year-end) of Covered Year-end outstanding equity awards granted prior to Covered Year	$	336,146
+/- change in fair value (from prior year-end to vesting date in Covered Year) of equity awards granted in years prior to Covered Year that vested in Covered Year	$	(421,604)
For Non-PEO Named Executive Officers (Average):
- SCT “Stock Awards” column value	$	1,295,187
- SCT “Option Awards” column value	$	960,007
+ Covered Year-end fair value of outstanding equity awards granted in Covered Year	$	3,329,446
+/- change in fair value (from prior year-end to Covered Year-end) of Covered Year-end outstanding equity awards granted prior to Covered Year	$	72,470
+/- change in fair value (from prior year-end to vesting date in Covered Year) of equity awards granted in years prior to Covered Year that vested in Covered Year	$	(97,726)

Compensation Actually Paid vs. Total Shareholder Return [Text Block]

Relationship Between PEO and Non-PEO NEO CAP and TSR

The following chart sets forth the relationship between CAP for our PEO, the average of CAP for our Non-PEO NEOs, and the cumulative TSR over the five most recently completed fiscal years for the Company and the S&P 1500 Leisure TSR.

Compensation Actually Paid vs. Net Income [Text Block]

Relationship Between PEO and Non-PEO NEO CAP and Net Income

The following chart sets forth the relationship between CAP for our PEO, the average of CAP for our Non-PEO NEOs, and our net income during the five most recently completed fiscal years.

Compensation Actually Paid vs. Company Selected Measure [Text Block]

Relationship Between PEO and Non-PEO NEO CAP and Adjusted EBITDA ($ Millions)

The following chart sets forth the relationship between CAP for our PEO, the average of CAP for our Non-PEO NEOs, and our Adjusted EBITDA ($ Millions) during the five most recently completed fiscal years.

Tabular List [Table Text Block]

Tabular List of Most Important Financial Performance Measures

The following table presents the financial performance measures that the Company considers to have been the most important in linking CAP for our PEO and Non-PEO NEOs for 2025 to Company performance. The measures in this table are not ranked.

Most Important Performance Measures

Relative Total Shareholder Return (TSR)

Adjusted EBITDA*

Revenue

*	Non-GAAP measures defined in the “2025 Performance Metrics and Target Bonus Amounts” section of the CD&A on page 42

Total Shareholder Return Amount

$ 77.64

66.94

106.55

110.71

117.80

Peer Group Total Shareholder Return Amount

95.74

75.75

88.50

84.71

121.26

Net Income (Loss) Attributable to Parent

$ (465,500,000)

$ 110,800,000

$ 502,800,000

$ 447,100,000

$ 493,900,000

Company Selected Measure Amount

538,200,000

635,400,000

1,069,200,000

1,096,900,000

956,300,000

PEO Name

M. Speetzen

Measure [Axis]: 1

Non-GAAP Measure Description [Text Block]

Measure Name

Adjusted EBITDA*

(6)

We determined Adjusted EBITDA to be the most important financial performance measure used to link Company performance to CAP to our PEO and Non-PEO NEOs in 2025. Adjusted EBITDA is a non-GAAP measure and is defined in the “2025 Performance Metrics and Target Bonus Amounts” section of the CD&A on page 42. Adjusted EBITDA may not have been the most important financial performance measure for years prior to 2025, and we may determine a different financial performance measure to be the most important financial performance measure in future years.

Measure [Axis]: 2

Measure Name

Relative Total Shareholder Return (TSR)

Measure [Axis]: 3

SCT “Stock Awards” column value | PEO [Member]

Measure Name

Revenue

SCT “Stock Awards” column value | Non-PEO NEO [Member]

$ 3,292,784

SCT “Option Awards” column value | PEO [Member]

1,295,187

SCT “Option Awards” column value | Non-PEO NEO [Member]

3,661,011

Covered Year-end fair value of outstanding equity awards granted in Covered Year | PEO [Member]

960,007

Covered Year-end fair value of outstanding equity awards granted in Covered Year | Non-PEO NEO [Member]

10,420,907

change in fair value (from prior year-end to Covered Year-end) of Covered Year-endoutstanding equity awards granted prior to Covered Year | PEO [Member]

3,329,446

change in fair value (from prior year-end to Covered Year-end) of Covered Year-endoutstanding equity awards granted prior to Covered Year | Non-PEO NEO [Member]

336,146

change in fair value (from prior year-end to vesting date in Covered Year) of equityawards granted in years prior to Covered Year that vested in Covered Year | PEO [Member]

72,470

change in fair value (from prior year-end to vesting date in Covered Year) of equityawards granted in years prior to Covered Year that vested in Covered Year | Non-PEO NEO [Member]

(421,604)

Awards Close in Time to MNPI Disclosures [Table]

$ (97,726)

Award Timing Disclosure

12 Months Ended

Dec. 31, 2025

Jan. 29, 2025

USD ($)

$ / shares

Award Timing MNPI Disclosure

For many years, the regular quarterly meetings of the Board and its committees have occurred during the two days immediately following the Company’s release of its quarterly earnings results. The Compensation Committee approves the annual equity awards for executives during its first quarter meeting, typically in late January or early February, the day after the release of the quarterly earnings results. The Compensation Committee does not take material nonpublic information into account when determining the timing or terms of the annual equity awards, nor is the purpose of the timing of such awards intended to affect the value of executive compensation.

Consistent with this practice, in 2025, the Company released its earnings results announcing its fourth quarter and full year financial results for the year ended December 31, 2024 on January 28, 2025 and the Compensation Committee granted annual stock options on January 29, 2025, one business day following the earnings release. The Compensation Committee believes that the Company was not in possession of material nonpublic information after the release of earnings and that the public markets had a sufficient period of time to absorb the Company’s earnings results.

The following table presents information regarding stock options awarded to our named executive officers in 2025, during any period beginning four business days before the filing of a periodic report on Form 10-Q or Form 10-K or the filing or furnishing of a current report on Form 8-K disclosing material non-public information, and ending one business day after the filing or furnishing of such report with the SEC.

Name	Grant date	Number of securities underlying the award	Exercise price of the award ($/ Sh)	Grant date fair value of the award	Percentage change in the closing market price of the securities underlying the award between the trading day ending immediately prior to the disclosure of material nonpublic information and the trading day beginning immediately following the disclosure of material nonpublic information
(a)	(b)	(c)	(d)	(e)	(f)
Michael T. Speetzen	01/29/25	269,192	48.78	3,661,011	(14%)
Robert P. Mack	01/29/25	102,942	48.78	1,400,011	(14%)
James P. Williams	01/29/25	67,648	48.78	920,013	(14%)
Benjamin D. Duke	01/29/25	64,706	48.78	880,002	(14%)
Michael D. Dougherty	01/29/25	47,059	48.78	640,002	(14%)

Award Timing Predetermined

true

Award Timing, How MNPI Considered

The Compensation Committee does not take material nonpublic information into account when determining the timing or terms of the annual equity awards, nor is the purpose of the timing of such awards intended to affect the value of executive compensation.

Disclosure - Award Timing Disclosure

Name	Grant date	Number of securities underlying the award	Exercise price of the award ($/ Sh)	Grant date fair value of the award	Percentage change in the closing market price of the securities underlying the award between the trading day ending immediately prior to the disclosure of material nonpublic information and the trading day beginning immediately following the disclosure of material nonpublic information
(a)	(b)	(c)	(d)	(e)	(f)
Michael T. Speetzen	01/29/25	269,192	48.78	3,661,011	(14%)
Robert P. Mack	01/29/25	102,942	48.78	1,400,011	(14%)
James P. Williams	01/29/25	67,648	48.78	920,013	(14%)
Benjamin D. Duke	01/29/25	64,706	48.78	880,002	(14%)
Michael D. Dougherty	01/29/25	47,059	48.78	640,002	(14%)

Michael T Speetzen [Member]

Awards Close in Time to MNPI Disclosures [Table]

Awards Close in Time to MNPI Disclosures, Individual Name

Michael T. Speetzen

269,192

$ 48.78

$ 3,661,011

Awards Close in Time to MNPI Disclosures [Table]

(0.14)

Robert P Mack [Member]

Awards Close in Time to MNPI Disclosures, Individual Name

Robert P. Mack

102,942

$ 48.78

$ 1,400,011

James P Williams [Member]

(0.14)

Awards Close in Time to MNPI Disclosures [Table]

Awards Close in Time to MNPI Disclosures, Individual Name

James P. Williams

67,648

$ 48.78

$ 920,013

Awards Close in Time to MNPI Disclosures [Table]

(0.14)

Benjamin D Duke [Member]

Awards Close in Time to MNPI Disclosures, Individual Name

Benjamin D. Duke

64,706

$ 48.78

$ 880,002

Michael D Dougherty [Member]

(0.14)

Awards Close in Time to MNPI Disclosures [Table]

Awards Close in Time to MNPI Disclosures, Individual Name

Michael D. Dougherty

47,059

$ 48.78

$ 640,002