VAIL RESORTS INC — Director's Dealing 2014

Sep 25, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VAIL RESORTS INC (MTN)
CIK: 0000812011
Period of Report: 2014-09-23

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

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-09-23	Restricted Share Unit	$0	A	22637	Acquired		Common Stock (22637)	Direct
2014-09-23	Share Appreciation Right	$87.18	A	21609	Acquired	2024-09-23	Common Stock (21609)	Direct
2014-09-23	Share Appreciation Right	$108.98	A	49084	Acquired	2024-09-23	Common Stock (49084)	Direct

Footnotes

F1: On September 23, 2014, Reporting Person was granted 22,637 Restricted Share Units which vest in three equal annual installments beginning on September 23, 2015.

F2: On September 23, 2014, Reporting Person was granted 21,609 Share Appreciation Rights which vest in three equal annual installments beginning on September 23, 2015.

F3: On September 23, 2014, Reporting Person was granted 49,084 Share Appreciation Rights which vest in three equal annual installments beginning on September 23, 2015.