[Form 4] VAIL RESORTS INC Insider Trading Activity

Rhea-AI Filing Summary

Peter A. Vaughn, a director of Vail Resorts, Inc. (MTN), was granted 1,281 Restricted Share Units (RSUs) on 09/27/2025 that vest in a single installment on 09/27/2025. The Form 4 reports the RSUs as having a $0 price and shows Mr. Vaughn beneficially owned 8,854 shares of common stock following the reported transaction. The filing was signed on behalf of Mr. Vaughn by an attorney-in-fact and reflects a routine equity grant to a director as recorded under Section 16 reporting rules.

Positive

• Director received 1,281 RSUs, aligning executive interests with shareholders through equity compensation
• Post-grant beneficial ownership reported as 8,854 shares, increasing transparency of insider holdings

Negative

• None.

Insights

Financial Analyst

TL;DR: A routine director RSU grant increases reported beneficial ownership modestly; no cash transaction or exercise required.

The Form 4 documents a grant of 1,281 RSUs to director Peter A. Vaughn, vesting in one installment on 09/27/2025, recorded at $0 price as a compensation award. The reported post-transaction beneficial ownership of 8,854 shares provides transparency on insider holdings. This disclosure is standard for equity-based compensation and has limited immediate market impact absent other material events.

Corporate Governance Expert

TL;DR: Governance disclosure shows expected director equity alignment; timing and vesting are clearly reported.

The filing clearly states grant terms: 1,281 Restricted Share Units granted 09/27/2025, vesting on 09/27/2025, with the report filed 09/30/2025 and signed by an attorney-in-fact. The disclosure meets Section 16 reporting requirements and documents that the director's ownership stake increased to 8,854 shares. The RSU grant is routine director compensation and aligns the director with shareholder interests while being fully disclosed.

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^*

Vaughn Peter 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)

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

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		1,281	A	$0	8,854	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			1,281	(1)	(1)	Common Stock	1,281	$0	0	D

Explanation of Responses:

1. On September 27, 2024, Reporting Person was granted 1,281 Restricted Share Units, which vest in one installment on September 27, 2025.

Remarks:

	/s/ Lucy Jensen, Attorney-in-Fact for Peter A. Vaughn	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 did Vail Resorts director Peter A. Vaughn receive according to the Form 4?

He was granted 1,281 Restricted Share Units (RSUs) on 09/27/2025 that vest in one installment on 09/27/2025.

How many shares did Peter A. Vaughn beneficially own after the reported transaction?

The Form 4 reports 8,854 shares of common stock beneficially owned following the transaction.

Was there any cash payment for the RSUs reported on the Form 4?

No; the RSUs are reported with a $0 price, indicating a compensation award rather than a cash purchase.

When was the Form 4 filed and who signed it?

The form shows a signature by Lucy Jensen, Attorney-in-Fact for Peter A. Vaughn dated 09/30/2025.

When do the granted RSUs vest?

The RSUs vest in a single installment on 09/27/2025, per the filing explanation.