[Form 4] VAIL RESORTS INC Insider Trading Activity

Rhea-AI Filing Summary

Angela A. Korch, EVP & Chief Financial Officer of Vail Resorts, reported transactions on 09/27/2025 related to vested restricted share units (RSUs) and common stock. 1,543 RSU shares were acquired upon vesting and recorded as issued at $0 price, while 676 shares were disposed under code F at a price of $147.74 to satisfy withholding and tax obligations. After these transactions, the reporting person beneficially owned 4,023 shares of common stock and held derivative/RSU-related interests representing 1,543 underlying shares reported for the vested tranche. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person.

Insights

Financial Analyst

TL;DR: Routine RSU vesting with tax-withholding; not a material change to ownership.

The filing documents standard compensation-related activity: vesting of RSUs that generated 1,543 shares and a contemporaneous disposition of 676 shares to cover tax withholding at $147.74 per share. This is an administrative transaction tied to equity compensation rather than an open-market trade indicating a change in view on company prospects. Reported beneficial ownership after the transactions is 4,023 shares, with RSU-derived interests noted. No new debt, options exercise for cash proceeds, or unusual sales were disclosed.

Corporate Governance Expert

TL;DR: Disclosure aligns with Section 16 reporting for executive compensation; routine and compliant.

The Form 4 shows the issuer, relationship (EVP & CFO), and required detail: transaction codes, amounts, and an explanation that withholding satisfied tax obligations. The grant and vesting schedule referenced (4,631 RSUs granted 9/27/2024 vesting in three equal installments starting 9/27/2025) is included as explanatory context. The signature by an attorney-in-fact indicates proper execution. There are no governance red flags or material corporate actions disclosed in this form.

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^*

Korch Angela A

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP & Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/27/2025

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
Common Stock	09/27/2025		M		1,543	A	$0	4,699	D
Common Stock	09/27/2025		F		676(1)	D	$147.74	4,023	D

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	09/27/2025		M			1,543	(2)	(2)	Common Stock	1,543	$0	3,088	D

Explanation of Responses:

1. These shares of common stock were withheld from the issuance of common stock to Reporting Person upon vesting of Restricted Share Units ("RSUs") in order to satisfy the Reporting Person's obligations for payment of withholding and other taxes due in connection therewith.

2. On September 27, 2024, Reporting Person was granted 4,631 RSUs, which vest in three equal installments beginning on September 27, 2025.

Remarks:

	/s/ Lucy Jensen, Attorney-in-Fact for Angela A. Korch	09/30/2025
	** 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 transactions did VAIL RESORTS INC (MTN) insider Angela Korch report on 09/27/2025?

The Form 4 reports 1,543 RSU shares acquired upon vesting and 676 shares disposed (withheld for taxes) at $147.74 per share.

Why were 676 shares disposed in the Form 4 by Angela Korch?

The filing explains those 676 shares were withheld from issuance to satisfy the reporting person’s withholding and other tax obligations related to RSU vesting.

How many shares did Angela Korch beneficially own after the reported transactions?

Following the transactions the reporting person beneficially owned 4,023 shares of common stock as reported on the Form 4.

How many RSUs were originally granted and what is the vesting schedule referenced?

The filing states 4,631 RSUs were granted on 09/27/2024, vesting in three equal installments beginning on 09/27/2025.

Was the Form 4 signed by the reporting person?

The form was signed on behalf of the reporting person by Lucy Jensen, Attorney-in-Fact on 09/30/2025.