DAVITA INC. — Director's Dealing 2012

Feb 29, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DAVITA INC (DVA)
CIK: 0000927066
Period of Report: 2012-02-27

Reporting Person: Mildenberger Laura (Chief People Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-27	Common Stock	M	15625	$52.12	Acquired	18993	Direct
2012-02-27	Common Stock	D	9383	$86.80	Disposed	9610	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-27	Stock Appreciation Right	$52.12	M	15625	Disposed	2012-03-14	Common Stock (15625)	Direct

Footnotes

F1: 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 vested 25% on the second anniversary of the grant date, 12.5% on the 20th month following the grant date, and 12.5% every four months thereafter.