Letter: Katz deserves gratitude for donation
I was delighted to know that Vail CEO Rob Katz will “donate to charity $29.3 million from sold shares of Vail Resorts stock.” The article in the Vail Daily goes on to say, “Vail Resorts said in a news release that Katz exercised stock appreciation rights that were set to expire next year, and he will make a charitable donation of 100% of the proceeds received.”
If, on the other hand, Katz had simply donated the stock directly to the charity and allowed the charity to sell the stock, he would have had no taxes, and the charity would have had more money. Granted, gifts of this magnitude are usually walked through the tax process with attorneys on every side.
Whatever process was followed, the community owes a round of applause to Mr. and Mrs. Katz for their generosity.