VAIL RESORTS INC — Director's Dealing 2013

Jun 25, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VAIL RESORTS INC (MTN)
CIK: 0000812011
Period of Report: 2013-06-21

Reporting Person: CARRIG BLAISE (President - Mountain Division)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-06-21	Common Stock	M	333	$14.73	Acquired	12619	Direct
2013-06-21	Common Stock	M	7333	$18.73	Acquired	19952	Direct
2013-06-21	Common Stock	S	7666	$61.2837	Disposed	12286	Direct
2013-06-21	Common Stock	M	14012	$39.72	Acquired	26298	Direct
2013-06-21	Common Stock	F	10658	$61.30	Disposed	15640	Direct
2013-06-21	Common Stock	M	18902	$40.09	Acquired	34542	Direct
2013-06-21	Common Stock	F	14454	$61.30	Disposed	20088	Direct
2013-06-21	Common Stock	M	10117	$39.65	Acquired	30205	Direct
2013-06-21	Common Stock	F	7687	$61.30	Disposed	22518	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-06-21	Stock Option (right to buy)	$14.73	M	333	Disposed	2013-11-20	Common Stock (333)	Direct
2013-06-21	Stock Option (right to buy)	$18.73	M	7333	Disposed	2014-09-28	Common Stock (7333)	Direct
2013-06-21	Share Appreciation Right	$39.72	M	14012	Disposed	2016-10-04	Common Stock (14012)	Direct
2013-06-21	Share Appreciation Right	$40.09	M	18902	Disposed	2018-09-23	Common Stock (18902)	Direct
2013-06-21	Share Appreciation Right	$39.65	M	10117	Disposed	2021-09-20	Common Stock (10117)	Direct

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $61.026 to $61.5901, 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 this footnote.

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 option vested in three equal installments on November 20, 2004, 2005 and 2006.

F4: The option vested in three equal installments on September 28, 2005, 2006 and 2007.

F5: The Share Appreciation Rights (or "SARs") vested in three equal installments on October 4, 2007, 2008 and 2009.

F6: The SARs vested in three equal installments on September 23, 2009, 2010 and 2011.

F7: The SARs vest in three equal installments on September 20, 2012, 2013 and 2014.