DAVITA INC. — Director's Dealing 2012

Feb 17, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DAVITA INC (DVA)
CIK: 0000927066
Period of Report: 2012-02-16

Reporting Person: Shapiro David T (Chief Compliance Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-16	Common Stock	M	833	$42.48	Acquired	5740	Direct
2012-02-16	Common Stock	F	442	$85.89	Disposed	5298	Direct
2012-02-16	Common Stock	S	391	$85.75	Disposed	4907	Direct
2012-02-16	Common Stock	M	8458	$46.26	Acquired	13365	Direct
2012-02-16	Common Stock	F	4556	$85.89	Disposed	8809	Direct
2012-02-16	Common Stock	S	3902	$85.75	Disposed	4907	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-16	Stock Appreciation Right	$42.48	M	833	Disposed	2013-03-17	Common Stock (833)	Direct
2012-02-16	Stock Appreciation Right	$46.26	M	8548	Disposed	2014-03-02	Common Stock (8458)	Direct

Footnotes

F1: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 9/16/2011.

F2: Stock Appreciation Right, pursuant to the 2002 Equity Compensation Plan (as amended and restated, the "DaVita Inc. 2011 Incentive Award Plan", effective June 6, 2011), which vests 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.