VAIL RESORTS INC — Director's Dealing 2014

Sep 23, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VAIL RESORTS INC (MTN)
CIK: 0000812011
Period of Report: 2014-09-20

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-09-20	Common Stock	M	3481	—	Acquired	160798	Direct
2014-09-20	Common Stock	F	1622	$88.33	Disposed	159176	Direct
2014-09-21	Common Stock	M	988	—	Acquired	160164	Direct
2014-09-21	Common Stock	F	461	$88.33	Disposed	159703	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-09-20	Restricted Share Unit	$0	M	3481	Disposed		Common Stock (3481)	Direct
2014-09-21	Restricted Share Unit	$0	M	988	Disposed		Common Stock (988)	Direct

Footnotes

F1: On September 20, 2011, Reporting Person was granted 10,444 Restricted Share Units which vest in three equal annual installments beginning on September 20, 2012.

F2: 1,622 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.

F3: On September 21, 2012, Reporting Person was granted 2,965 Restricted Share Units which vest in three equal annual installments beginning on September 21, 2013.

F4: 461 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.