Vail Resorts (MTN) GC Julie DeCecco Exercises RSUs, Withholds 172 Shares

What Happened
Julie A. DeCecco, General Counsel & Chief Public Affairs Officer of Vail Resorts (MTN), had 586 restricted share units (RSUs) convert into common stock on September 27, 2026 (exercise/conversion code M). No cash exercise price was paid ($0.00 per share). To satisfy tax withholding obligations, 172 of those shares were withheld/disposed at an indicated value of $136.11 per share, totaling $23,411 (transaction code F). Net issued to the reporting person from this vesting event was 414 shares (586 converted less 172 withheld).

Key Details

• Transaction date: 2026-09-27; Filing date: 2026-09-29 (filed promptly after the transaction).
• Converted (M): 586 shares @ $0.00 per share (issued upon RSU vesting).
• Withholding (F): 172 shares @ $136.11 per share = $23,411 withheld to cover taxes.
• Net new shares to insider from this vesting: 414 shares.
• Shares owned after transaction: Not specified in the Form 4 filing.
• Footnote F1: Shares were withheld from issuance to satisfy tax obligations.
• Footnote F2: The RSUs were from a Sept 27, 2024 grant of 1,758 RSUs that vest in three equal installments (586 shares each) beginning Sept 27, 2025.

Context
This was a routine RSU vesting and tax-withholding event (not an open-market sale or purchase). The M code indicates conversion/exercise of a derivative (here, RSUs converting to common stock). The F code reflects shares withheld to pay taxes (a cashless withholding), which is common and does not itself indicate a change in insider sentiment.