DAVITA INC. — Director's Dealing 2012

Aug 9, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DAVITA INC (DVA)
CIK: 0000927066
Period of Report: 2012-08-07

Reporting Person: THIRY KENT J (Director, Chairman & Chief Exec. Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-08-07	Common Stock	M	371292	$43.70	Acquired	575719	Direct
2012-08-07	Common Stock	F	169492	$95.73	Disposed	406227	Direct
2012-08-07	Common Stock	S	201800	$96.7337	Disposed	204427	Direct
2012-08-08	Common Stock	M	216708	$43.70	Acquired	421135	Direct
2012-08-08	Common Stock	F	97631	$97.00	Disposed	323504	Direct
2012-08-08	Common Stock	S	119077	$97.1206	Disposed	204427	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-08-07	Stock Appreciation Right	$43.70	M	371292	Disposed	2013-03-11	Common Stock (371292)	Direct
2012-08-08	Stock Appreciation Right	$43.70	M	216708	Disposed	2013-03-11	Common Stock (216708)	Direct

Footnotes

F1: The range of prices for the sale of these shares was $97.15 - $97.25. 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 $96.51 - $97.47. 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 DaVita Inc. 2002 Equity Compensation Plan, (as amended and restated, the "DaVita Inc. 2011 Incentive Award Plan," effective June 6, 2011), which vested 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.