[Form 4] VAIL RESORTS INC Insider Trading Activity

Rhea-AI Filing Summary

Julie A. DeCecco, GC & Chief Public Affairs Officer of Vail Resorts, reported equity changes tied to restricted share units vesting on September 27, 2025. A grant-derived conversion recorded 586 shares acquired at no cash price (RSU vesting) and 169 shares disposed at $147.74 per share to satisfy tax withholding, leaving her with 1,145 shares beneficially owned after the transactions. The Form 4 notes she was originally granted 1,758 RSUs on September 27, 2024 that vest in three equal installments beginning September 27, 2025. The filing was signed by an attorney-in-fact on behalf of the reporting person.

Positive

• Disclosure of RSU grant and vesting schedule (1,758 RSUs granted on September 27, 2024) provides clarity on compensation timing.
• Tax-withholding handled via share disposition (169 shares at $147.74) which avoids cash outlay by the reporting person.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine RSU vesting with share withholding for taxes; no unusual trading or cash purchases reported.

The filing documents a standard executive compensation event: restricted share units became payable and were partially converted into common stock. A portion of the vested shares (169) were sold or withheld at $147.74 each to cover tax obligations, consistent with common practice to satisfy withholding without cash payment. Beneficial ownership decreased from 1,314 to 1,145 shares post-transaction. There is no indication of market-timing or unusual derivative activity beyond the scheduled RSU vesting schedule disclosed.

Compensation & Equity Specialist

TL;DR: Compensation-related equity conversion; the RSU schedule and withholding are disclosed clearly and are routine.

The report confirms an earlier equity grant of 1,758 RSUs vesting in three equal installments beginning on the one-year anniversary of the grant. The transaction codes and amounts show 586 RSUs vested and were converted into shares issued to the reporting person, with 169 shares withheld to satisfy withholding taxes. The disclosure includes the conversion price of $0 for vested RSUs and the withholding sale price of $147.74, providing transparent reporting of the economic effect on the officer's shareholding.

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^*

DeCecco Julie 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)
	GC & Chief Public Affairs Ofc

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		586	A	$0	1,314	D
Common Stock	09/27/2025		F		169(1)	D	$147.74	1,145	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			586	(2)	(2)	Common Stock	586	$0	1,172	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 1,758 RSUs, which vest in three equal installments beginning on September 27, 2025.

Remarks:

	/s/ Lucy Jensen, Attorney-in-Fact for Julie A. DeCecco	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 insider transactions did Julie A. DeCecco report on Form 4 for MTN?

She reported 586 shares acquired from vested RSUs and 169 shares disposed at $147.74 to satisfy tax withholding on September 27, 2025.

How many RSUs was the reporting person originally granted?

The Form 4 states an original grant of 1,758 RSUs on September 27, 2024, vesting in three equal installments beginning September 27, 2025.

What is Julie DeCecco's relationship to Vail Resorts (MTN)?

The filing lists her as an Officer with the title GC & Chief Public Affairs Officer.

How many shares does the reporting person beneficially own after the transactions?

After the reported transactions, she beneficially owns 1,145 shares.

Was cash used to acquire the vested shares?

No cash purchase is reported; the vested RSUs converted to shares at a reported conversion price of $0, with shares withheld/disposed to satisfy taxes.