[Form 4] VAIL RESORTS INC Insider Trading Activity

Rhea-AI Filing Summary

Reginald Chambers, a director of Vail Resorts Inc. (MTN), was granted 1,563 Restricted Share Units (RSUs) on 09/30/2025. The RSUs carry no cash strike price and vest in a single installment on 09/30/2026, at which time each unit converts into one share of common stock, resulting in 1,563 shares beneficially owned following the reported grant. The Form 4 was signed by an attorney-in-fact on 10/01/2025. This filing discloses a routine equity compensation award to a company director and does not report any cash purchase or sale transactions.

Positive

• Disclosure completeness: Grant date, amount, vesting date, and ownership form are clearly reported
• Retention alignment: RSUs vesting in one year align the director's incentives with shareholder interests

Negative

• No material negative items disclosed: This is a routine director award without immediate cash outflow or material dilution

Insights

Corporate Governance Expert

TL;DR: Routine director equity award disclosed; standard single-installment RSU vesting.

The filing documents a common governance practice: awarding RSUs to a board director. The award size (1,563 RSUs) appears to be a routine grant rather than a material compensation change for the company. Vesting in one year aligns director retention incentives. There is no cash transaction, no immediate dilution beyond standard long-term equity compensation, and no indication of accelerated vesting or related-party transactions beyond the director relationship.

Securities Compliance Analyst

TL;DR: Filing meets Section 16 disclosure requirements for a director RSU grant.

The Form 4 properly reports the grant date (09/30/2025), number of RSUs (1,563), zero price, the vesting date (09/30/2026), and ownership form as direct. Signature and filing elements are present. From a compliance standpoint, the document contains the expected details and appears complete for this transaction type.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Chambers Reginald

(Last) (First) (Middle)

C/O VAIL RESORTS, INC.

390 INTERLOCKEN CRESCENT

(Street)

BROOMFIELD CO 80021

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
VAIL RESORTS INC [ MTN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Share Unit	$0	09/30/2025		A		1,563		(1)	(1)	Common Stock	1,563	$0	1,563	D

Explanation of Responses:

1. On September 30, 2025, Reporting Person was granted 1,563 Restricted Share Units, which vest in one installment on September 30, 2026.

Remarks:

	/s/ Lucy Jensen, Attorney-in-Fact for Reginald Chambers	10/01/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Reginald Chambers report in the Form 4 for Vail Resorts (MTN)?

He reported a grant of 1,563 Restricted Share Units on 09/30/2025, converting to 1,563 shares upon vesting.

When do the RSUs granted to Chambers vest?

The RSUs vest in a single installment on 09/30/2026.

Was there any cash price paid for the RSUs?

No. The derivative price is reported as $0, indicating a grant rather than a purchase.

How many shares will Chambers beneficially own after the grant?

The filing reports 1,563 shares beneficially owned following the reported transaction.

Who signed the Form 4 and when?

The Form 4 was signed by Lucy Jensen, Attorney-in-Fact for Reginald Chambers on 10/01/2025.