[Form 4] VAIL RESORTS INC Insider Trading Activity

Rhea-AI Filing Summary

Insider grant recorded for Vail Resorts, Inc. (MTN). Director Iris Knobloch was granted 1,563 Restricted Share Units on 09/30/2025, recorded as an acquisition (Transaction Code A) with a reported price of $0. The RSUs vest in one installment on 09/30/2026 and convert into 1,563 shares of common stock upon vesting. Following the grant, Ms. Knobloch beneficially owns 1,563 shares directly. The Form 4 was signed on behalf of Ms. Knobloch by an attorney-in-fact on 10/01/2025. This filing documents a routine director equity award intended to align long-term interests with shareholders.

Positive

• Director equity alignment: 1,563 RSUs link the director’s compensation to shareholder value
• Clear vesting schedule: RSUs vest in one installment on 09/30/2026, providing transparency on timing

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received a standard equity grant to align pay with shareholder interests.

The 1,563 RSU grant to a non-employee director is consistent with customary board compensation practices that use time-based equity to promote retention and alignment. The award vests in one year, which is a relatively short vesting horizon for retention but still creates a share-based link to company performance. No additional governance concerns are disclosed in the form.

Compensation Analyst

TL;DR: Grant size appears modest; typical for a director-level equity award.

At 1,563 RSUs, the award is modest in absolute terms and represents a straightforward time-based grant with a one-year vesting schedule. The reported $0 price indicates restricted stock units rather than a purchase. The filing lacks details on grant valuation or how this award fits into the overall compensation plan, so material impact on total dilution or executive pay is not determinable from this form alone.

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Knobloch Iris

(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 Iris Knobloch	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 Iris Knobloch receive according to the Form 4 for MTN?

Iris Knobloch was granted 1,563 Restricted Share Units (RSUs) on 09/30/2025, as reported on the Form 4.

When do the RSUs granted to Iris Knobloch vest?

The RSUs vest in one installment on 09/30/2026.

How many shares will Iris Knobloch beneficially own after the grant?

Following the reported transaction, Ms. Knobloch beneficially owns 1,563 shares directly.

What was the transaction code and reported price for the grant?

Transaction Code: A (acquisition); Price reported: $0, indicating restricted share units.

Who signed the Form 4 and when was it filed?

The form was signed by Lucy Jensen, Attorney-in-Fact for Iris Knobloch, on 10/01/2025.