Hill Path Capital Reports 57.7% Stake in United Parks & Resorts Inc. Following Share Count Change

This Amendment No. 23 to Schedule 13D was filed by Hill Path Capital LP and associated reporting persons regarding their investment in United Parks & Resorts Inc. (PRKS). As of May 11, 2026, the reporting persons collectively beneficially own 27,205,306 shares, representing approximately 57.7% of the company's outstanding common stock. This filing primarily reflects a change in the percentage of ownership resulting from a decrease in the issuer's total outstanding shares, rather than significant new open-market purchases. Key reporting entities include HEP Fund LP (22.3%), Hill Path Capital Partners Co-Investment E LP (13.0%), and Hill Path Capital Partners LP (12.5%). Individual reporting person Scott Ross, the Managing Partner, is deemed to beneficially own 27,279,661 shares (57.9%), which includes shares held by the funds and 74,355 shares held directly. Additionally, the filing notes that on March 31, 2026, Mr. Ross and Mr. Chambers were granted restricted stock units as part of their director compensation, which vested immediately. The reporting persons maintain their significant controlling position in the issuer.