VAIL RESORTS INC — Director's Dealing 2015

Sep 29, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VAIL RESORTS INC (MTN)
CIK: 0000812011
Period of Report: 2015-09-25

Reporting Person: Lynch Kirsten A. (EVP & Chief Marketing Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-09-26	Common Stock	M	500	—	Acquired	8920	Direct
2015-09-26	Common Stock	F	222	$107.42	Disposed	8698	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-09-25	Restricted Share Unit	$0	A	1891	Acquired		Common Stock (1891)	Direct
2015-09-25	Restricted Share Unit	$0	A	4045	Acquired		Common Stock (4045)	Direct
2015-09-25	Share Appreciation Right	$107.42	A	13169	Acquired	2025-09-25	Common Stock (13169)	Direct
2015-09-26	Restricted Share Unit	$0	M	500	Disposed		Common Stock (500)	Direct

Footnotes

F1: On September 26, 2013, Reporting Person was granted 1,500 Restricted Share Units ("RSUs"), which vest in three equal annual installments beginning on September 26, 2014.

F2: 222 shares of common stock were withheld from the issuance of common stock to Reporting Person upon vesting of RSUs in order to satisfy the Reporting Person's obligations for payment of withholding and other taxes due in connection therewith.

F3: On September 25, 2015, Reporting Person was granted 1,891 RSUs, which vest in three equal annual installments beginning on September 25, 2016.

F4: On September 25, 2015, Reporting Person was granted 4,045 RSUs, which cliff vest on September 25, 2018.

F5: On September 25, 2015, Reporting Person was granted 13,169 Share Appreciation Rights, which vest in three equal annual installments beginning on September 25, 2016.