VAIL RESORTS INC — Director's Dealing 2011

Sep 26, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VAIL RESORTS INC (MTN)
CIK: 0000812011
Period of Report: 2011-09-22

Reporting Person: JONES JEFFREY W (Director, Co-President and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-09-22	Common Stock	M	1126	—	Acquired	45162	Direct
2011-09-22	Common Stock	F	350	$36.75	Disposed	44812	Direct
2011-09-23	Common Stock	M	973	—	Acquired	45785	Direct
2011-09-23	Common Stock	F	303	$37.31	Disposed	45482	Direct
2011-09-23	Common Stock	M	28685	—	Acquired	74167	Direct
2011-09-23	Common Stock	F	9133	$37.31	Disposed	65034	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-09-22	Restricted Share Unit	$0	M	1126	Disposed	2011-09-22	Common Stock (1126)	Direct
2011-09-23	Restricted Share Unit	$0	M	973	Disposed	2011-09-23	Common Stock (973)	Direct
2011-09-23	Restricted Share Unit	$0	M	28685	Disposed	2011-09-23	Common Stock (28685)	Direct

Footnotes

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

F2: On September 22, 2009, Reporting Person was granted 3,379 Restricted Share Units which vest in three equal annual installments commencing on the first anniversary of the grant date.

F3: 350 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 23, 2008, Reporting Person was granted 2,918 Restricted Share Units which vest in three equal annual installments commencing on the first anniversary of the grant date.

F5: 303 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 23, 2008 Reporting Person was granted 28,685 Restricted Share Units which vest in one installment on the third anniversary of the grant date.

F7: 9,133 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.