VAIL RESORTS INC — Director's Dealing 2019

Oct 1, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VAIL RESORTS INC (MTN)
CIK: 0000812011
Period of Report: 2019-09-27

Reporting Person: Barkin Michael Z (EVP & Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-09-27	Common Stock	M	953	—	Acquired	14980	Direct
2019-09-27	Common Stock	F	277	$236.98	Disposed	14703	Direct
2019-09-27	Common Stock	M	958	—	Acquired	15661	Direct
2019-09-27	Common Stock	F	278	$236.98	Disposed	15383	Direct
2019-09-30	Common Stock	M	8000	$87.18	Acquired	23383	Direct
2019-09-30	Common Stock	F	5211	$230.84	Disposed	18172	Direct
2019-09-30	Common Stock	S	1394	$230.88	Disposed	16778	Direct
2019-10-01	Common Stock	S	1395	$228.28	Disposed	15383	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-09-27	Restricted Share Unit	$0.0	M	953	Disposed		Common Stock (953.0)	Direct
2019-09-27	Restricted Share Unit	$0.0	M	958	Disposed		Common Stock (958.0)	Direct
2019-09-30	Share Appreciation Right	$87.18	M	8000	Disposed	2024-09-23	Common Stock (8000.0)	Direct

Footnotes

F1: On September 27, 2017, Reporting Person was granted 2,859 Restricted Share Units ("RSUs"), which vest in three equal annual installments beginning on September 27, 2018.

F2: 277 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 27, 2018, Reporting Person was granted 2,872 RSUs, which vest in three equal annual installments beginning on September 27, 2019.

F4: 278 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.

F5: 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.

F6: The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $230.72 to $231.06, 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.

F7: The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $228.00 to $228.49, 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.

F8: On September 23, 2014, Reporting Person was granted 15,360 Share Appreciation Rights which vest in three equal annual installments beginning on September 23, 2015.