X0306 4 2012-09-20 0 0000812011 VAIL RESORTS INC MTN 0001265321 JONES JEFFREY W C/O VAIL RESORTS, INC. 390 INTERLOCKEN CRESCENT BROOMFIELD CO 80021 1 1 0 0 CFO & Pres. - Lodg., Ret., RE. Common Stock 2012-09-20 4 M 0 5047 0 A 69657 D Common Stock 2012-09-20 4 F 0 1569 54.26 D 68088 D Common Stock 2012-09-21 4 M 0 2019 0 A 70107 D Common Stock 2012-09-21 4 F 0 628 54.07 D 69479 D Common Stock 2012-09-22 4 M 0 1126 0 A 70605 D Common Stock 2012-09-22 4 F 0 350 54.07 D 70255 D Restricted Share Unit 0 2012-09-20 4 M 0 5047 0 D 2012-09-20 2012-09-20 Common Stock 5047 10093 D Restricted Share Unit 0 2012-09-21 4 M 0 2019 0 D 2012-09-21 2012-09-21 Common Stock 2019 2019 D Restricted Share Unit 0 2012-09-22 4 M 0 1126 0 D 2012-09-22 2012-09-22 Common Stock 1126 0 D On September 20, 2011, Reporting Person was granted 15,140 Restricted Share Units which vest in three equal annual installments commencing on the first anniversary of the grant date. 1,569 shares of common stock were withheld from the issuance of common stock to Reporting Person upon vesting of Restricted Share Units in order to satisfy the Reporting Person's obligations for payment of withholding and other taxes due in connection therewith. On September 21, 2010, Reporting Person was granted 6,057 Restricted Share Units which vest in three equal annual installments commencing on the first anniversary of the grant date. 628 shares of common stock were withheld from the issuance of common stock to Reporting Person upon vesting of Restricted Share Units in order to satisfy the Reporting Person's obligations for payment of withholding and other taxes due in connection therewith. On September 22, 2009, Reporting Person was granted 3,379 Restricted Share Units which vest in three equal annual installments commencing on the first anniversary of the grant date. 350 shares of common stock were withheld from the issuance of common stock to Reporting Person upon vesting of Restricted Share Units in order to satisfy the Reporting Person's obligations for payment of withholding and other taxes due in connection therewith. Adam Averbach by Power of Attorney 2012-09-24