VAIL RESORTS INC — Director's Dealing 2015

Jun 15, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VAIL RESORTS INC (MTN)
CIK: 0000812011
Period of Report: 2015-06-11

Reporting Person: SCHOPPET MARK L (SVP, Controller & CAO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-06-11	Common Stock	M	5000	$34.37	Acquired	11031	Direct
2015-06-11	Common Stock	S	5000	$105.711	Disposed	6031	Direct
2015-06-11	Common Stock	M	8007	$39.72	Acquired	14038	Direct
2015-06-11	Common Stock	F	4605	$105.87	Disposed	9433	Direct
2015-06-11	Common Stock	M	3551	$16.51	Acquired	12984	Direct
2015-06-11	Common Stock	F	1837	$105.87	Disposed	11147	Direct
2015-06-11	Common Stock	M	10000	$35.84	Acquired	21147	Direct
2015-06-11	Common Stock	F	6468	$105.87	Disposed	14679	Direct
2015-06-12	Common Stock	S	8148	$105.844	Disposed	6531	Direct
2015-06-12	Common Stock	S	500	$106.556	Disposed	6031	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-06-11	Stock Option (right to buy)	$34.37	M	5000	Disposed	2015-11-08	Common Stock (5000)	Direct
2015-06-11	Share Appreciation Right	$39.72	M	8007	Disposed	2016-10-04	Common Stock (8007)	Direct
2015-06-11	Share Appreciation Right	$16.51	M	3551	Disposed	2019-03-10	Common Stock (3551)	Direct
2015-06-11	Share Appreciation Right	$35.84	M	10000	Disposed	2019-09-22	Common Stock (10000)	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 $105.545 to $105.830, 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 footnotes (1), (3) and (4) to this Form 4.

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 $105.40 to $106.37, inclusive.

F4: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $106.46 to $106.74, inclusive.

F5: The option vested in three equal installments on November 8, 2006, 2007 and 2008.

F6: The Share Appreciation Rights ("SARs") vested in three equal installments on October 4, 2007, 2008 and 2009.

F7: The SARs vested in three equal installments on March 10, 2010, 2011 and 2012.

F8: The SARs vested in three equal installments on September 22, 2010, 2011 and 2012.