DAVITA INC. — Director's Dealing 2011

Mar 14, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DAVITA INC (DVA)
CIK: 0000927066
Period of Report: 2011-03-10

Reporting Person: Mildenberger Laura (SVP & Chief People Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-03-10	Common Stock	M	12750	$49.70	Acquired	16500	Direct
2011-03-10	Common Stock	F	7698	$82.32	Disposed	8802	Direct
2011-03-10	Common Stock	S	5052	$81.0	Disposed	3750	Direct
2011-03-10	Common Stock	M	10000	$56.38	Acquired	13750	Direct
2011-03-10	Common Stock	F	6849	$82.32	Disposed	6901	Direct
2011-03-10	Common Stock	S	3151	$81.0	Disposed	3750	Direct
2011-03-10	Common Stock	M	9375	$52.12	Acquired	13125	Direct
2011-03-10	Common Stock	F	5936	$82.32	Disposed	7189	Direct
2011-03-10	Common Stock	S	3439	$81.0	Disposed	3750	Direct
2011-03-10	Common Stock	M	455	$46.26	Acquired	4205	Direct
2011-03-10	Common Stock	F	256	$82.32	Disposed	3949	Direct
2011-03-10	Common Stock	S	199	$81.0	Disposed	3750	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-03-10	Stock Appreciation Right	$49.70	M	12750	Disposed	2011-07-01	Common Stock (12750)	Direct
2011-03-10	Stock Appreciation Right	$56.38	M	10000	Disposed	2011-10-11	Common Stock (10000)	Direct
2011-03-10	Stock Appreciation Right	$52.12	M	9375	Disposed	2012-03-14	Common Stock (9375)	Direct
2011-03-10	Stock Appreciation Right	$46.26	M	455	Disposed	2014-03-02	Common Stock (455)	Direct

Footnotes

F1: Stock Appreciation Right, pursuant to the 2002 Equity Compensation Plan, which vest 25% on the first anniversary of the grant date, 8.33% on the 20th month following the grant date, and 8.33% every 4 months thereafter until fully vested.

F2: Stock Appreciation Right, pursuant to the 2002 Equity Compensation Plan, which vest 75% on the third anniversary of the grant date, 25% on the fourth anniversary of the grant date.

F3: Stock Appreciation Right, pursuant to the 2002 Equity Compensation Plan, which vest 25% on the second anniversary of the grant date, 12.5% on the 32nd month following the grant date, and 12.5% every 4 months thereafter until fully vested.