VAIL RESORTS INC — Director's Dealing 2010

Sep 27, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VAIL RESORTS INC (MTN)
CIK: 0000812011
Period of Report: 2010-09-23

Reporting Person: KATZ ROBERT A (Director, Chief Exec.Officer & Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-09-23	Common Stock	M	2475	—	Acquired	97161	Direct
2010-09-23	Common Stock	F	770	$35.40	Disposed	96391	Direct
2010-09-23	Common Stock	M	1753	—	Acquired	98144	Direct
2010-09-23	Common Stock	F	545	$37.13	Disposed	97599	Direct
2010-09-25	Common Stock	M	1597	—	Acquired	99196	Direct
2010-09-25	Common Stock	F	497	$37.13	Disposed	98699	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-09-23	Restricted Share Unit	$0	M	2475	Disposed	2010-09-23	Common Stock (2475)	Direct
2010-09-23	Restricted Share Unit	$0	M	1753	Disposed	2010-09-23	Common Stock (1753)	Direct
2010-09-25	Restricted Share Unit	$0	M	1597	Disposed	2010-09-25	Common Stock (1597)	Direct

Footnotes

F1: Each Restricted Share Unit represents a contingent right to receive one share of common stock.

F2: On September 23, 2008, Reporting Person was granted 7,427 Restricted Share Units which vest in three equal annual installments commencing on the first anniversary of the grant date.

F3: On September 23, 2008, Reporting Person was granted 5,260 Restricted Share Units which vest in three equal annual installments commencing on the first anniversary of the grant date.

F4: 770 shares of common stock were withheld from the issuance of common stock to Reporting Person upon vesting of Restricted Share Units in order to satisfy the Reporting Person's obligations for payment of withholding and other taxes due in connection therewith.

F5: 545 shares of common stock were withheld from the issuance of common stock to Reporting Person upon vesting of Restricted Share Units in order to satisfy the Reporting Person's obligations for payment of withholding and other taxes due in connection therewith.

F6: On September 25, 2007, Reporting Person was granted 4,791 Restricted Share Units which vest in three equal annual installments commencing on the first anniversary of the grant date.

F7: 497 shares of common stock were withheld from the issuance of common stock to Reporting Person upon vesting of Restricted Share Units in order to satisfy the Reporting Person's obligations for payment of withholding and other taxes due in connection therewith