VAIL RESORTS INC — Director's Dealing 2020

Sep 30, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VAIL RESORTS INC (MTN)
CIK: 0000812011
Period of Report: 2020-09-28

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-09-28	Common Stock	M	836	$129.64	Acquired	1445	Direct
2020-09-28	Common Stock	F	579	$228.94	Disposed	866	Direct
2020-09-28	Common Stock	M	2133	$160.56	Acquired	2999	Direct
2020-09-28	Common Stock	F	1681	$228.94	Disposed	1318	Direct
2020-09-28	Common Stock	S	709	$227.68	Disposed	609	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-09-28	Share Appreciation Right	$129.64	M	836	Disposed	2026-05-01	Common Stock (836.0)	Direct
2020-09-28	Share Appreciation Right	$160.56	M	2133	Disposed	2026-09-23	Common Stock (2133.0)	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: On May 1, 2016, Reporting Person was granted 1,255 Share Appreciation Rights, which vested in three equal annual installments beginning on May 1, 2017.

F3: On September 23, 2016, Reporting Person was granted 3,200 Share Appreciation Rights, which vested in three equal annual installments beginning on September 23, 2017.