VAIL RESORTS INC — Director's Dealing 2017

Oct 20, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VAIL RESORTS INC (MTN)
CIK: 0000812011
Period of Report: 2017-10-18

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-10-18	Common Stock	M	12604	$40.09	Acquired	28736	Direct
2017-10-18	Common Stock	F	7089	$221.80	Disposed	21647	Direct
2017-10-19	Common Stock	S	5515	$222.4091	Disposed	16132	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-10-18	Share Appreciation Right	$40.09	M	12604	Acquired	2018-09-23	Common Stock (12604.0)	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 price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $222.28 to $222.59, 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 this footnote.

F3: The Share Appreciation Rights vested in three equal installments on September 23, 2009, 2010 and 2011.