Edgar Filing: VAIL RESORTS INC

Ownership Submission

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Â CARRIG BLAISE

2. Date of Event Requiring Statement (Month/Day/Year)
01/08/2008

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

(Last)

(First)

(Middle)

C/O VAIL RESORTS, INC.,Â 390 INTERLOCKEN CRESCENT, STE. 1000

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

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
EVP & COO Heavenly

5. If Amendment, Date Original Filed(Month/Day/Year)

(Street)

BROOMFIELD,Â COÂ 80021

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

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	1,524	D	Â

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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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 of Derivative Security: 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		6. Nature of Indirect Beneficial Ownership (Instr. 5)
Option to Purchase	11/20/2006⁽¹⁾	11/20/2013⁽¹⁾	Common Stock	333	$ 14.73	D	Â
Option to Purchase	09/28/2007⁽²⁾	09/28/2014⁽²⁾	Common Stock	7,333	$ 18.73	D	Â
Option to Purchase	09/30/2006⁽³⁾	09/30/2015⁽³⁾	Common Stock	17,500	$ 28.08	D	Â
Share Appreciation Rights ⁽⁴⁾	10/04/2007⁽⁵⁾	10/04/2016⁽⁵⁾	Common Stock	14,012	$ 39.72	D	Â
Share Appreciation Rights ⁽⁴⁾	09/25/2008⁽⁶⁾	09/25/2017⁽⁶⁾	Common Stock	10,148	$ 60.05	D	Â
Restricted Share Unit	09/30/2008⁽⁷⁾	09/30/2008⁽⁷⁾	Common Stock	667	$ ⁽⁸⁾	D	Â
Restricted Share Unit	10/04/2008⁽⁹⁾	10/04/2009⁽⁹⁾	Common Stock	999	$ ⁽⁸⁾	D	Â
Restricted Share Unit	09/25/2008⁽¹⁰⁾	09/25/2010⁽¹⁰⁾	Common Stock	1,025	$ ⁽⁸⁾	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
CARRIG BLAISE C/O VAIL RESORTS, INC. 390 INTERLOCKEN CRESCENT, STE. 1000 BROOMFIELD,Â COÂ 80021	Â	Â	Â EVP & COO Heavenly	Â

Signatures

Blaise Carrig		01/10/2008
^**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	On November 20, 2003, Reporting Person was granted 20,000 Employee Stock Options which vest in three equal annual installments commencing on the first anniversary of the grant date and expire 10 years from the grant date. Reporting Person has exercised and sold 19,667 options from this grant.
(2)	On September 28, 2004, Reporting Person was granted 20,000 Employee Stock Options which vest in three equal annual installments commencing on the first anniversary of the grant date and expire 10 years from the grant date. Reporting Person has exercised and sold 12,667 options from this grant.
(3)	On September 30, 2005, Reporting Person was granted 17,500 Employee Stock Options which vest in three equal annual installments commencing on the first anniversary of the grant date and expire 10 years from the grant date.
(4)	Each Share Appreciation Right (each, an "SAR") represents a contingent right to receive, upon vesting, an amount of shares of Issuer's common stock equal to the positive difference (if any) between the fair market value of Issuer's common stock on the exercise date and the SAR exercise price, divided by the fair market value of Issuer's common stock on the exercise date.
(5)	On October 4, 2006, Reporting Person was granted 14,012 SAR's which vest in three equal annual installments commencing on the first anniversary of the grant date and expire 10 years from the grant date
(6)	On September 25, 2007, Reporting Person was granted 10,148 SAR's which vest in three equal annual installments commencing on the first anniversary of the grant date and expire 10 years from the grant date
(7)	On September 30, 2005 Reporting Person was granted 2,000 Restricted Share Units which vest in three equal annual installments commencing on the first anniversary of the grant date. On 9/30/06 the first tranche vested, 667 shares were issued. On 9/30/07 the second tranche vested, 666 shares vested, 176 shares were withheld for taxes and 490 shares were issued.
(8)	Each Restricted Share Unit represents a contingent right to receive one share of common stock.
(9)	On October 4, 2006 Reporting Person was granted 1,498 Restricted Share Units which vest in three equal annual installments commencing on the first anniversary of the grant date. On 10/4/07 the first tranche vested, 499 shares vested, 132 shares were withheld for taxes and 367 shares were issued.
(10)	On September 25, 2007 Reporting Person was granted 1,025 Restricted Share Units which vest in three equal annual installments commencing on the first anniversary of the grant date.

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