VAIL RESORTS INC — Director's Dealing 2017

May 3, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VAIL RESORTS INC (MTN)
CIK: 0000812011
Period of Report: 2017-05-01

Reporting Person: Siurek Ryan H (VP, Controller & CAO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-01	Common Stock	M	44	—	Acquired	44	Direct
2017-05-01	Common Stock	F	17	$198.87	Disposed	27	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-01	Restricted Share Unit	$0.0	M	44	Disposed		Common Stock (44.0)	Direct

Footnotes

F1: On May 1, 2016, Reporting Person was granted 130 Restricted Share Units ("RSUs"), which vest in three equal annual installments beginning on May 1, 2017.

F2: 17 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.