Beneficial Ownership Report · SCHEDULE 13D/A

Vail Resorts, Inc.

MTNNYSEEQUITYCurrent

Beneficial Ownership Report

Filed Sep 22, 2026Accepted Sep 22, 2026, 7:30 AM EDTFiling CIK 812011Accession 0000902664-26-003894

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Structured filing — SCHEDULE 13D/A

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Amendment · This filing reports the amendment as submitted.

Subject company

Company: VAIL RESORTS INC
Company CIK: 0000812011
Street: 390 Interlocken Crescent
Street (continued): Suite 1000
City: Broomfield
State / country code: CO
Postal code: 80021

Statement details

Amendment number: 1
Security class: Common Stock, par value $0.01 per share
Event date: 09/18/2026
Previously filed indication: false

Authorized notification person 1

Name: Oasis Management Company Ltd.
Phone: (852) 2847-7708
Street: c/o Oasis Management (Hong Kong)
Street (continued): 25/F, LHT Tower, 31 Queen's Road Central
City: Central
State / country code: K3
Postal code: 00000

Authorized notification person 2

Name: Ele Klein
Phone: 212-756-2000
Street: McDermott Will & Schulte LLP
Street (continued): 919 Third Avenue
City: New York
State / country code: NY
Postal code: 10022

Reporting person 1

Name: Oasis Management Co Ltd.
Reporting person CIK: 0001317904
No reporting person CIK indication: N
Citizenship / organization: E9
Reporting person type: IA · OO
Source of funds code: AF
Legal proceedings indication: N
Aggregate amount owned: 2,622,562.00
Percent of class: 7.4
Sole voting power: 0.00
Shared voting power: 2,622,562.00
Sole dispositive power: 0.00
Shared dispositive power: 2,622,562.00
Aggregate excludes certain shares: N

Reporting person 2

Name: Seth Fischer
No reporting person CIK indication: Y
Citizenship / organization: 2M
Reporting person type: IN · HC
Source of funds code: AF
Legal proceedings indication: N
Aggregate amount owned: 2,622,562.00
Percent of class: 7.4
Sole voting power: 0.00
Shared voting power: 2,622,562.00
Sole dispositive power: 0.00
Shared dispositive power: 2,622,562.00
Aggregate excludes certain shares: N

Reporting person 3

Name: Robert Chapek
No reporting person CIK indication: Y
Citizenship / organization: X1
Reporting person type: IN
Source of funds code: PF
Legal proceedings indication: N
Aggregate amount owned: 0.00
Percent of class: 0
Sole voting power: 0.00
Shared voting power: 0.00
Sole dispositive power: 0.00
Shared dispositive power: 0.00
Aggregate excludes certain shares: N

Reporting person 4

Name: M. Ashton Hudson
No reporting person CIK indication: Y
Citizenship / organization: X1
Reporting person type: IN
Source of funds code: PF
Legal proceedings indication: N
Aggregate amount owned: 1,350.00
Percent of class: 0
Sole voting power: 1,350.00
Shared voting power: 0.00
Sole dispositive power: 1,350.00
Shared dispositive power: 0.00
Aggregate excludes certain shares: N

Reporting person 5

Name: Bryce Roberts
No reporting person CIK indication: Y
Citizenship / organization: X1
Reporting person type: IN
Source of funds code: PF
Legal proceedings indication: N
Aggregate amount owned: 0.00
Percent of class: 0
Sole voting power: 0.00
Shared voting power: 0.00
Sole dispositive power: 0.00
Shared dispositive power: 0.00
Aggregate excludes certain shares: N

Reporting person 6

Name: Picabo Street
No reporting person CIK indication: Y
Citizenship / organization: X1
Reporting person type: IN
Source of funds code: PF
Legal proceedings indication: N
Aggregate amount owned: 0.00
Percent of class: 0
Sole voting power: 0.00
Shared voting power: 0.00
Sole dispositive power: 0.00
Shared dispositive power: 0.00
Aggregate excludes certain shares: N

Item 1

Issuer

VAIL RESORTS INC

Security title

Common Stock, par value $0.01 per share

Principal address

Comment

This Amendment No. 1 ("Amendment No. 1") amends and supplements the statement on Schedule 13D filed with the Securities and Exchange Commission (the "SEC") on September 16, 2026 (the "Original Schedule 13D," together with this Amendment No. 1, the "Schedule 13D"), with respect to the Common Stock of the Issuer. This Amendment No. 1 amends and restates Items 3 and 5(a) - (c) as set forth below. Capitalized terms used herein and not otherwise defined in this Amendment No. 1 have the meanings set forth in the Schedule 13D.

Item 3

Source of funds

The shares of Common Stock held by the Oasis Fund reported herein were purchased with the working capital of the Oasis Fund in open market transactions. A total of approximately $373 million (excluding commissions) was paid to acquire the shares of Common Stock held by the Oasis Fund. The shares of Common Stock held by the Oasis Fund are held in commingled margin accounts, which may extend margin credit from time to time, subject to applicable federal margin regulations, stock exchange rules and credit policies. In such instances, the positions held in the margin accounts are pledged as collateral security for the repayment of debit balances in the account. The margin accounts bear interest at a rate based upon the broker's call rate from time to time in effect. Because other securities are held in the margin accounts, it is not possible to determine the amounts, if any, of margin used to purchase the shares of Common Stock held by the Oasis Fund. The 1,350 shares of Common Stock held by Mr. Hudson were purchased with his personal funds in open market transactions for an aggregate purchase price of approximately $0.2 million (excluding commissions).

Item 5

Number of shares

See rows (7) through (10) of the cover pages to this Schedule 13D for the number of shares of Common Stock as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.

Transactions

All information concerning transactions in the Common Stock since the filing of the Schedule 13D is set forth in Schedule B hereto and is incorporated by reference herein.

Percentage of class

See rows (11) and (13) of the cover pages to this Schedule 13D for the aggregate number of shares of Common Stock and percentages of the Common Stock beneficially owned by each of the Reporting Persons. The percentages used in this Schedule 13D are calculated based upon 35,633,526 shares of Common Stock outstanding as of June 3, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended April 30, 2026, filed with the SEC on June 8, 2026. The Reporting Persons may be deemed to have formed a "group" within the meaning of Section 13(d)(3) of the Act, and the "group" may be deemed to beneficially own an aggregate of 2,623,912 shares of Common Stock, representing approximately 7.4% of the outstanding shares of Common Stock. Each of the Reporting Persons expressly disclaims beneficial ownership of the Shares beneficially owned by the other Reporting Persons.

Signature 1

Reporting person: Oasis Management Co Ltd.
Signed: By: /s/ Phillip Meyer
Title: Phillip Meyer, Director
Date: 09/22/2026

Signature 2

Reporting person: Seth Fischer
Signed: /s/ Seth Fischer
Title: Seth Fischer, individually
Date: 09/22/2026

Signature 3

Reporting person: Robert Chapek
Signed: /s/ Robert Chapek
Title: Robert Chapek, individually
Date: 09/22/2026

Signature 4

Reporting person: M. Ashton Hudson
Signed: /s/ M. Ashton Hudson
Title: M. Ashton Hudson, individually
Date: 09/22/2026

Signature 5

Reporting person: Bryce Roberts
Signed: /s/ Bryce Roberts
Title: Bryce Roberts, individually
Date: 09/22/2026

Signature 6

Reporting person: Picabo Street
Signed: /s/ Picabo Street
Title: Picabo Street, individually
Date: 09/22/2026

Filed exhibits

EX-99.1 SCHEDULE B ↗p26-1908ex99.htm

Company context

Vail Resorts is a network of the best destination and close-to-home ski resorts in the world including Vail Mountain, Breckenridge, Park City Mountain, Whistler Blackcomb, Stowe, and 32 additional resorts across North America; Andermatt-Sedrun and Crans-Montana Mountain Resort in Switzerland; and Perisher, Hotham, and Falls Creek in Australia. We are passionate about providing an Experience of a Lifetime to our team members and guests, and our EpicPromise is to reach a zero

Current securities

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