VAIL RESORTS INC — Director's Dealing 2022

Dec 14, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VAIL RESORTS INC (MTN)
CIK: 0000812011
Period of Report: 2022-12-12

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-12-12	Common Stock	M	7682	$228.04	Acquired	26985	Direct
2022-12-12	Common Stock	F	7188	$257.61	Disposed	19797	Direct
2022-12-12	Common Stock	M	12364	$236.15	Acquired	32161	Direct
2022-12-12	Common Stock	F	11787	$257.61	Disposed	20374	Direct
2022-12-12	Common Stock	M	9176	$225.26	Acquired	29550	Direct
2022-12-12	Common Stock	F	8530	$257.61	Disposed	21020	Direct
2022-12-12	Common Stock	M	8161	$247.79	Acquired	29181	Direct
2022-12-12	Common Stock	F	7987	$257.61	Disposed	21194	Direct
2022-12-12	Common Stock	S	1891	$258.95	Disposed	19303	Direct
2022-12-12	Common Stock	S	2500	$258.66	Disposed	16803	Direct
2022-12-12	Common Stock	S	2500	$259.15	Disposed	14303	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-12-12	Share Appreciation Right	$228.04	M	7682	Disposed		Common Stock (7682)	Direct
2022-12-12	Share Appreciation Right	$236.15	M	12364	Disposed		Common Stock (12364)	Direct
2022-12-12	Share Appreciation Right	$225.26	M	9176	Disposed		Common Stock (9176)	Direct
2022-12-12	Share Appreciation Right	$247.79	M	8161	Disposed		Common Stock (8161)	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 $258.71 to $259.23, 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 price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $257.97 to $258.96, 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.

F4: The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $258.99 to $259.44, 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.

F5: On September 27, 2017, Reporting Person was granted 7,682 Share Appreciation Rights, which vested in three equal installments beginning on September 27, 2018.

F6: On September 25, 2019, Reporting Person was granted 12,364 Share Appreciation Rights, which vested in three equal installments beginning on September 25, 2020.

F7: On September 25, 2020, Reporting Person was granted 13,765 Share Appreciation Rights, which vest in three equal instalments beginning on September 25, 2021

F8: On September 25, 2020, Reporting Person was granted 8,161 Share Appreciation Rights, which vested in one installment.