DAVITA INC. — Director's Dealing 2012

Mar 19, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DAVITA INC (DVA)
CIK: 0000927066
Period of Report: 2012-03-15

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-15	Common Stock	M	50000	$52.76	Acquired	234432	Direct
2012-03-15	Common Stock	D	30005	$87.92	Disposed	204427	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-03-15	Stock Appreciation Right	$52.76	M	50000	Disposed	2012-03-16	Common Stock (50000)	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 first anniversary of the grant date, 8.33% on the 20th month following the grant date, and 8.33% every four months thereafter.