DAVITA INC. — Director's Dealing 2012

Mar 7, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DAVITA INC (DVA)
CIK: 0000927066
Period of Report: 2012-03-05

Reporting Person: Rodriguez Javier (President of DaVita)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-05	Common Stock	M	7500	$52.12	Acquired	56331	Direct
2012-03-05	Common Stock	D	4508	$86.73	Disposed	51823	Direct
2012-03-05	Common Stock	M	25000	$52.12	Acquired	76823	Direct
2012-03-05	Common Stock	D	15024	$86.73	Disposed	61799	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-03-05	Stock Appreciation Right	$52.12	M	7500	Disposed	2012-03-14	Common Stock (7500)	Direct
2012-03-05	Stock Appreciation Right	$52.12	M	25000	Disposed	2012-03-14	Common Stock (25000)	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 32nd month following the grant date, and 12.5% every 4 months thereafter.

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 vested 50% on the third anniversary of the grant date, 12.5% on the 45th month following the grant date, and 12.5% every 3 months thereafter.