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^*

SCHOPPET MARK L

(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)
10/06/2008

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 Accounting Officer

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	2,874	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)
Option to Purchase	11/08/2006⁽¹⁾	11/08/2015⁽¹⁾	Common Stock	20,000	$34.37	D
Restricted Share Unit	11/08/2008⁽²⁾	11/08/2008⁽²⁾	Common Stock	1,667	$0⁽³⁾	D
Share Appreciation Rights⁽⁴⁾	10/04/2007⁽⁵⁾	10/04/2016⁽⁵⁾	Common Stock	8,007	$39.72	D
Restricted Share Unit	10/04/2009⁽⁶⁾	10/04/2009⁽⁶⁾	Common Stock	312	$0⁽³⁾	D
Share Appreciation Rights⁽⁴⁾	09/25/2008⁽⁷⁾	09/25/2017⁽⁷⁾	Common Stock	5,798	$60.05	D
Restricted Share Unit	09/25/2009⁽⁸⁾	09/25/2010⁽⁸⁾	Common Stock	427	$0⁽³⁾	D
Share Appreciation Rights⁽⁴⁾	09/23/2009⁽⁹⁾	09/23/2018⁽⁹⁾	Common Stock	9,217	$40.09	D
Restricted Share Unit	09/23/2009⁽¹⁰⁾	09/23/2011⁽¹⁰⁾	Common Stock	957	$0⁽³⁾	D

Explanation of Responses:

1. On November 8, 2005, 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.

2. On November 8, 2005, Reporting Person was granted 5,000 Restricted Share Units which vest in three equal annual installments commencing on the first anniversary of the grant date. On November 8, 2006, the first tranche vested, 1,667shares vested, 518 shares withheld for taxes and 1,149 shares issued. On November 8, 2007, the second tranche vested, 1,666 shares vested, 518 shares withheld for taxes and 1,148 shares issued.

3. Each Restricted Share Unit represents a contingent right to receive one share of common stock.

4. Each Share Appreciation Right (each, a "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 8,007 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 October 4, 2006 Reporting Person was granted 936 Restricted Share Units which vest in three equal annual installments commencing on the first anniversary of the grant date. On October 4, 2007, the first tranche vested, 312 shares vested, 97 shares withheld for taxes and 215 shares issued. On October 4, 2008, the second tranche vested, 312 shares vested, 97 shares withheld for taxes and 215 shares issued.

7. On September 25, 2007, Reporting Person was granted 5,798 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.

8. On September 25, 2007, Reporting Person was granted 641 Restricted Share Units which vest in three equal annual installments commencing on the first anniversary of the grant date. On September 25, 2008, 214 shares vested, 67 shares withheld for taxes and 147 shares issued.

9. On September 23, 2008, Reporting Person was granted 9,217 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.

10. On September 23, 2008, Reporting Person was granted 957 Restricted Share Units which vest in three equal annual installments commencing on the first anniversary of the grant date.

	Mark L. Schoppet	10/15/2008
	** 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).
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.