DAVITA INC. — Director's Dealing 2011

Feb 23, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DAVITA INC (DVA)
CIK: 0000927066
Period of Report: 2011-02-18

Reporting Person: Kogod Dennis (Chief Operating Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-18	Common Stock	M	35000	$56.38	Acquired	72500	Direct
2011-02-18	Common Stock	F	24654	$80.04	Disposed	47846	Direct
2011-02-18	Common Stock	S	10346	$79.50	Disposed	37500	Direct
2011-02-18	Common Stock	M	41666	$52.12	Acquired	79166	Direct
2011-02-18	Common Stock	F	27132	$80.04	Disposed	52034	Direct
2011-02-18	Common Stock	S	14534	$79.50	Disposed	37500	Direct
2011-02-18	Common Stock	M	62500	$52.12	Acquired	100000	Direct
2011-02-18	Common Stock	F	40699	$80.04	Disposed	59301	Direct
2011-02-18	Common Stock	S	21801	$79.5554	Disposed	37500	Direct
2011-02-18	Common Stock	M	8955	$50.37	Acquired	46455	Direct
2011-02-18	Common Stock	F	5636	$80.04	Disposed	40819	Direct
2011-02-18	Common Stock	S	3319	$79.6669	Disposed	37500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-18	Stock Appreciation Right	$56.38	M	35000	Disposed	2011-10-11	Common Stock (35000)	Direct
2011-02-18	Stock Appreciation Right	$52.12	M	41666	Disposed	2012-03-14	Common Stock (41666)	Direct
2011-02-18	Stock Appreciation Right	$52.12	M	62500	Disposed	2012-03-14	Common Stock (62500)	Direct
2011-02-18	Stock Appreciation Right	$50.37	M	8955	Disposed	2013-02-28	Common Stock (8955)	Direct

Footnotes

F1: The range of prices for the sale of these shares was $79.50 - $79.65. The filer undertakes to provide staff, the issuer, or a security holder full information regarding the number of shares sold at each separate price.

F2: The range of prices for the sale of these shares was $79.65 - $79.69. The filer undertakes to provide staff, the issuer, or a security holder full information regarding the number of shares sold at each separate price.

F3: 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 four months thereafter.

F4: Stock Appreciation Right, pursuant to the 2002 Equity Compensation Plan, which vest 50% on the third anniversary of the grant date, 12.5% on the 45th month following the grant date, and 12.5% every three months thereafter.