DAVITA INC. — Director's Dealing 2012

Sep 10, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DAVITA INC (DVA)
CIK: 0000927066
Period of Report: 2012-09-06

Reporting Person: Shapiro David T (Chief Compliance Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-09-06	Common Stock	M	4167	$42.48	Acquired	9074	Direct
2012-09-06	Common Stock	F	1766	$100.29	Disposed	7308	Direct
2012-09-06	Common Stock	S	2401	$100.41	Disposed	4907	Direct
2012-09-06	Common Stock	M	19292	$46.26	Acquired	24199	Direct
2012-09-06	Common Stock	F	8899	$100.29	Disposed	15300	Direct
2012-09-06	Common Stock	S	10393	$100.41	Disposed	4907	Direct
2012-09-06	Common Stock	M	6250	$63.40	Acquired	11157	Direct
2012-09-06	Common Stock	F	3952	$100.29	Disposed	7205	Direct
2012-09-06	Common Stock	S	2298	$100.41	Disposed	4907	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-09-06	Stock Appreciation Right	$42.48	M	4167	Disposed	2013-03-17	Common Stock (4167)	Direct
2012-09-06	Stock Appreciation Right	$46.26	M	19292	Disposed	2014-03-02	Common Stock (19292)	Direct
2012-09-06	Stock Appreciation Right	$63.40	M	6250	Disposed	2015-03-31	Common Stock (6250)	Direct

Footnotes

F1: The sales reported on this From 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 9/16/2011.

F2: 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.

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 second anniversary of the grant date, and 8.33% every 3 months thereafter.