SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
JAMES PHYLLIS

(Last) (First) (Middle)
3600 LAS VEGAS BLVD. SOUTH

(Street)
LAS VEGAS NV 89109

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
MGM MIRAGE [ MGM ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
SENIOR VP & SENIOR COUNSEL
3. Date of Earliest Transaction (Month/Day/Year)
08/07/2008
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock $.01 Par Value ND 08/07/2008 08/07/2008 M 6,800 A $12.74 6,800 D
Common Stock $.01 Par Value ND 08/07/2008 08/07/2008 S 800 D $33.414 6,000 D
Common Stock $.01 Par Value ND 08/07/2008 08/07/2008 S 100 D $33.46 5,900 D
Common Stock $.01 Par Value ND 08/07/2008 08/07/2008 S 306 D $33.47 5,594 D
Common Stock $.01 Par Value ND 08/07/2008 08/07/2008 S 94 D $33.48 5,500 D
Common Stock $.01 Par Value ND 08/07/2008 08/07/2008 S 200 D $33.5 5,300 D
Common Stock $.01 Par Value ND 08/07/2008 08/07/2008 S 300 D $33.504 5,000 D
Common Stock $.01 Par Value ND 08/07/2008 08/07/2008 S 1,000 D $33.574 4,000 D
Common Stock $.01 Par Value ND 08/07/2008 08/07/2008 S 500 D $33.62 3,500 D
Common Stock $.01 Par Value ND 08/07/2008 08/07/2008 S 1,000 D $33.636 2,500 D
Common Stock $.01 Par Value ND 08/07/2008 08/07/2008 S 500 D $33.684 2,000 D
Common Stock $.01 Par Value ND 08/07/2008 08/07/2008 S 500 D $33.764 1,500 D
Common Stock $.01 Par Value ND 08/07/2008 08/07/2008 S 500 D $33.78 1,000 D
Common Stock $.01 Par Value ND 08/07/2008 08/07/2008 S 500 D $33.798 500 D
Common Stock $.01 Par Value ND 08/07/2008 08/07/2008 S 500 D $33.816 0 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Emp Stk Option (Right to Buy) $12.74 08/07/2008 08/07/2008 M 6,800 02/27/2004 02/27/2013 Common Stock $.01 Par Value ND 6,800 $0 4,200(1) D
Emp Stk Option (Right to Buy) $34.05 05/03/2006 05/03/2012 Common Stock $.01 Par Value ND 48,500 48,500(2) D
Emp Stock Appreciation Rights $60.25 03/03/2009 03/03/2015 Common Stock $.01 Par Value ND 27,500 27,500(3) D
Explanation of Responses:
1. Options granted under MGM MIRAGE Employee Stock Option Plan. Vesting plan calls for options to become exercisable in equal 20% yearly amounts over a period of five years commencing on 2/27/04.
2. Options granted under MGM MIRAGE 2005 Omnibus Incentive Plan. Vesting plan calls for options to become exercisable in equal 20% yearly amounts commencing on the first anniversary of the grant date.
3. SARs granted under MGM MIRAGE 2005 Omnibus Incentive Plan. Vesting plan calls for SARs to become exercisable in equal 20% yearly amounts commencing on the first anniversary of the grant date.
Troy McHenry, Attorney-In-Fact 08/08/2008
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.