VAIL RESORTS INC — Director's Dealing 2016

Oct 6, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VAIL RESORTS INC (MTN)
CIK: 0000812011
Period of Report: 2016-10-04

Reporting Person: Campbell Patricia A (President-Mountain Division)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-10-04	Common Stock	M	8075	$40.22	Acquired	22846	Direct
2016-10-04	Common Stock	F	4870	$156.62	Disposed	17976	Direct
2016-10-04	Common Stock	M	5798	$60.05	Acquired	23774	Direct
2016-10-04	Common Stock	F	3890	$156.62	Disposed	19884	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-10-04	Share Appreciation Right	$40.22	M	8075	Disposed	2016-11-06	Common Stock (8075.0)	Direct
2016-10-04	Share Appreciation Right	$60.05	M	5798	Disposed	2017-09-25	Common Stock (5798.0)	Direct

Footnotes

F1: Shares of common stock were withheld from the issuance of common stock to the Reporting Person upon exercise in order to satisfy the Reporting Person's obligations for payment of the exercise price and withholding and other taxes due in connection therewith.

F2: The Share Appreciation Rights vested in three equal installments on November 6, 2007, 2008 and 2009.

F3: The Share Appreciation Rights vested in three equal installments on September 25, 2008, 2009 and 2010.