Stock-Based Compensation

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

MGM Resorts 2005 Omnibus Incentive Plan. The Company’s omnibus incentive plan, as amended (the “Omnibus Plan”), allows it to grant up to 45 million shares or share-based awards, such as stock options, stock appreciation rights (“SARs”), restricted stock units (“RSUs”), performance share units (“PSUs”) and other stock-based awards to eligible directors, officers and employees of the Company and its subsidiaries.

As of December 31, 2021, the Company had an aggregate of approximately 20 million shares of common stock available for grant as share-based awards under the Omnibus Plan. Additionally, as of December 31, 2021, the Company had approximately 1 million aggregate SARs outstanding and approximately 6 million aggregate RSUs and PSUs outstanding, including deferred share units and dividend equivalent units related to RSUs and PSUs.

As of December 31, 2021, there was $85 million of unamortized compensation related to SARs, RSUs, and PSUs, which is expected to be recognized over a weighted average period of 1.6 years.

MGM Growth Properties 2016 Omnibus Incentive Plan and MGM China Share Option Plan. The Company’s subsidiaries, MGP and MGM China, each adopted their own equity award plans for the issuance of share-based awards to each subsidiary’s eligible recipients.

Recognition of compensation cost. Compensation cost was recognized as follows:


	Year Ended December 31,
	2021		2020		2019
Compensation cost:	(In thousands)
Omnibus Plan	$	53,683	$	93,096	$	76,995
MGM Growth Properties Omnibus Incentive Plan	4,827		2,854		2,277
MGM China Share Option Plan	6,673		11,006		9,566
Total compensation cost	65,183		106,956		88,838
Less: Reimbursed costs and capitalized cost	(1,198)		(2,118)		(3,487)
Compensation cost after reimbursed costs and capitalized cost	63,985		104,838		85,351
Less: Related tax benefit	(12,982)		(20,605)		(16,752)
Compensation cost, net of tax benefit	$	51,003	$	84,233	$	68,599