VAIL RESORTS INC — Director's Dealing 2013

Jul 31, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VAIL RESORTS INC (MTN)
CIK: 0000812011
Period of Report: 2013-07-29

Reporting Person: CARRIG BLAISE (President - Mountain Division)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-07-29	Common Stock	M	10148	$60.05	Acquired	22434	Direct
2013-07-29	Common Stock	F	9533	$65.93	Disposed	12901	Direct
2013-07-31	Common Stock	S	615	$67.3041	Disposed	12286	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-07-29	Share Appreciation Right	$60.05	M	10148	Disposed	2017-09-25	Common Stock (10148)	Direct

Footnotes

F1: The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 28, 2013.

F2: Shares of common stock were withheld from the issuance of common stock to Reporting Person upon exercise in order to satisfy Reporting Person's obligations for payment of the exercise price and withholding and other taxes due in connection therewith.

F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.27 to $67.34, inclusive. The Reporting Person undertakes to provide Vail Resorts, Inc., any security holder of Vail Resorts, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4.

F4: The Share Appreciation Rights vested in three equal installments on September 25, 2008, 2009 and 2010.