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: GARNSEY JOHN MCD (Co-President, Mountain Div.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-09-23	Common Stock	M	654	—	Acquired	4510	Direct
2010-09-23	Common Stock	F	204	$35.40	Disposed	4306	Direct
2010-09-25	Common Stock	M	342	—	Acquired	4648	Direct
2010-09-25	Common Stock	F	107	$37.13	Disposed	4541	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-09-23	Restricted Share Unit	$0	M	654	Disposed	2010-09-23	Common Stock (654)	Direct
2010-09-25	Restricted Share Unit	$0	M	342	Disposed	2010-09-25	Common Stock (342)	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 1,964 Restricted Share Units which vest in three equal annual installments commencing on the first anniversary of the grant date.

F3: 204 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.

F4: On September 25, 2007, Reporting Person was granted 1,025 Restricted Share Units which vest in three equal annual installments commencing on the first anniversary of the grant date.

F5: 107 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.