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People Inc and MGM Resorts amend voting agreement, imposing 29.9% ownership cap
PPLIPeople Inc
People Incorporated and MGM Resorts International have entered into an amendment to their existing Voting Agreement dated April 3, 2026. The amendment imposes a standstill provision limiting the aggregate beneficial ownership of People Inc., Barry Diller, and their affiliates (the Covered Entities) in MGM to 29.9% of outstanding common stock. Additionally, for non-change-of-control matters, the Covered Entities must vote any shares exceeding a 25.73% threshold in accordance with the majority vote of other shareholders. The agreement also restricts MGM from implementing defensive measures like poison pills while the Covered Entities remain in compliance. People Inc. operates in the digital media and technology sector.