DAVITA INC. — Director's Dealing 2012

Aug 8, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DAVITA INC (DVA)
CIK: 0000927066
Period of Report: 2012-08-06

Reporting Person: Valine Roger (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-08-06	Common Stock	M	12000	$49.78	Acquired	37434	Direct
2012-08-06	Common Stock	F	6017	$99.29	Disposed	31417	Direct
2012-08-06	Common Stock	S	5983	$98.0257	Disposed	25434	Direct
2012-08-06	Common Stock	M	12000	$45.84	Acquired	37434	Direct
2012-08-06	Common Stock	F	5541	$99.29	Disposed	31893	Direct
2012-08-06	Common Stock	S	6459	$98.8596	Disposed	25434	Direct
2012-08-07	Common Stock	S	18739	$96.5279	Disposed	6695	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-08-06	Stock Appreciation Right	$49.78	M	12000	Disposed	2013-06-09	Common Stock (12000)	Direct
2012-08-06	Stock Appreciation Right	$45.84	M	12000	Disposed	2014-06-15	Common Stock (12000)	Direct

Footnotes

F1: The range of prices for the sale of these shares was $97.67 - $98.46. 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 $98.46 - $99.10. 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: The range of prices for the sale of these shares was $96.30 - $96.94. The filer undertakes to provide staff, the issuer or a security holder full information regarding the number of shares sold at each separate price.

F4: Stock Appreciation Right, pursuant to the DaVita Inc. 2002 Equity Compensation Plan, (as amended and restated, the "DaVita Inc. 2011 Incentive Award Plan," effective June 6, 2011), which vested 10% on the first anniversary of the grant date.