ThZeal - The Zeal

SEC FORM 3 SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Kunkel Lynanne

(Last)

(First)

(Middle)

C/O VAIL RESORTS, INC.

390 INTERLOCKEN CRESCENT

(Street)

BROOMFIELD

80021

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
12/05/2024

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

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief HR & Trnsfrm Ofc

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	6,860	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Restricted Share Unit	⁽¹⁾	⁽¹⁾	Common Stock	1,031	$0	D
Restricted Share Unit	⁽²⁾	⁽²⁾	Common Stock	2,046	$0	D
Restricted Share Unit	⁽³⁾	⁽³⁾	Common Stock	4,001	$0	D
Share Appreciation Right	⁽⁴⁾	05/15/2027	Common Stock	1,873	$199.79	D
Share Appreciation Right	⁽⁵⁾	09/27/2027	Common Stock	3,165	$228.04	D
Share Appreciation Right	⁽⁶⁾	09/27/2028	Common Stock	3,199	$286.13	D
Share Appreciation Right	⁽⁷⁾	09/25/2029	Common Stock	5,542	$236.15	D
Share Appreciation Right	⁽⁸⁾	09/25/2030	Common Stock	7,567	$225.26	D
Share Appreciation Right	⁽⁹⁾	09/24/2031	Common Stock	5,815	$351.85	D
Share Appreciation Right	⁽¹⁰⁾	09/29/2032	Common Stock	10,770	$213.55	D
Share Appreciation Right	⁽¹¹⁾	09/29/2033	Common Stock	10,176	$221.89	D
Share Appreciation Right	⁽¹²⁾	09/27/2034	Common Stock	14,754	$180.61	D

Explanation of Responses:

1. On September 29. 2022, Reporting Person was granted 3,092 Restricted Share Units, which vest in three equal annual installments commencing on the first anniversary of the grant date. On September 29, 2023, 1,030 shares vested of which 297 shares were withheld in order to satisfy the Reporting Person's obligations for payment of withholding and other taxes due in connection therewith and 733 shares were issued. On September 29, 2024, 1,031 shares vested of which 297 shares were withheld in order to satisfy the Reporting Person's obligations for payment of withholding and other taxes due in connection therewith and 734 shares were issued.

2. On September 29, 2023, Reporting Person was granted 3,068 Restricted Share Units, which vest in three equal annual installments commencing on the first anniversary of the grant date. On September 29, 2024, 1,022 shares vested of which 294 shares were withheld in order to satisfy the Reporting Person's obligations for payment of withholding and other taxes due in connection therewith and 728 shares were issued.

3. On September 27, 2024, Reporting Person was granted 4,001 Restricted Share Units, which vest in three equal annual installments commencing on the first anniversary of the grant date.

4. On May 15, 2017, Reporting Person was granted 1,873 Share Appreciation Rights, which vest in three equal annual installments commencing on the first anniversary of the grant date. Of the 1,873 Share Appreciation Rights, 1,873 remain outstanding and exercisable.

5. On September 27, 2017, Reporting Person was granted 3,165 Share Appreciation Rights, which vest in three equal annual installments commencing on the first anniversary of the grant date. Of the 3,165 Share Appreciation Rights, 3,165 remain outstanding and exercisable.

6. On September 27, 2018, Reporting Person was granted 3,199 Share Appreciation Rights, which vest in three equal annual installments commencing on the first anniversary of the grant date. Of the 3,199 Share Appreciation Rights, 3,199 remain outstanding and exercisable.

7. On September 25, 2019, Reporting Person was granted 5,542 Share Appreciation Rights, which vest in three equal annual installments commencing on the first anniversary of the grant date. Of the 5,542 Share Appreciation Rights, 5,542 remain outstanding and exercisable.

8. On September 25, 2020, Reporting Person was granted 7,567 Share Appreciation Rights, which vest in three equal annual installments commencing on the first anniversary of the grant date. Of the 7,567 Share Appreciation Rights, 7,567 remain outstanding and exercisable.

9. On September 24, 2021, Reporting Person was granted 5,815 Share Appreciation Rights, which vest in three equal annual installments commencing on the first anniversary of the grant date. Of the 5,815 Share Appreciation Rights, 5,815 remain outstanding and exercisable.

10. On September 29, 2022, Reporting Person was granted 10,770 Share Appreciation Rights, which vest in three equal annual installments commencing on the first anniversary of the grant date. Of the 10.770 Share Appreciation Rights, 10,770 remain outstanding and 7,180 are exercisable, with the remainder not yet vested.

11. On September 29, 2023, Reporting Person was granted 10,176 Share Appreciation Rights, which vest in three equal annual installments commencing on the first anniversary of the grant date. Of the 10,176 Share Appreciation Rights, 10,176 remain outstanding and 3,392 are exercisable, with the remainder not yet vested.

12. On September 27, 2024, Reporting Person was granted 14,754 Share Appreciation Rights, which vest in three equal annual installments commencing on the first anniversary of the grant date. Of the 14,754 Share Appreciation Rights, 14,754 remain outstanding, and none have vested.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney. Ms. Kunkel was designated a Section 16 officer by the Company's Board of Directors on December 5, 2024 as a result of expansion of her scope.

	/s/ Lucy Jensen, Attorney-in-Fact for Lynanne Kunkel	12/12/2024
	** 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 5 (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).
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