X0202 SCHEDULE 13D/A 0000902664-26-003832 0001317904 XXXXXXXX LIVE 1 Common Stock, par value $0.01 per share 09/18/2026 false 0000812011 91879Q109 VAIL RESORTS INC

390 Interlocken Crescent Suite 1000 Broomfield CO 80021

Oasis Management Company Ltd. (852) 2847-7708 c/o Oasis Management (Hong Kong) 25/F, LHT Tower, 31 Queen's Road Central Central K3 00000 Ele Klein 212-756-2000 McDermott Will & Schulte LLP 919 Third Avenue New York NY 10022 0001317904 N Oasis Management Co Ltd. AF N E9 0.00 2622562.00 0.00 2622562.00 2622562.00 N 7.4 IA OO Y Seth Fischer AF N 2M 0.00 2622562.00 0.00 2622562.00 2622562.00 N 7.4 IN HC Y Robert Chapek PF N X1 0.00 0.00 0.00 0.00 0.00 N 0 IN Y M. Ashton Hudson PF N X1 1350.00 0.00 1350.00 0.00 1350.00 N 0 IN Y Bryce Roberts PF N X1 0.00 0.00 0.00 0.00 0.00 N 0 IN Y Picabo Street PF N X1 0.00 0.00 0.00 0.00 0.00 N 0 IN Common Stock, par value $0.01 per share VAIL RESORTS INC 390 Interlocken Crescent Suite 1000 Broomfield CO 80021 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. 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). 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. 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. 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. Oasis Management Co Ltd. By: /s/ Phillip Meyer 09/22/2026 Seth Fischer /s/ Seth Fischer 09/22/2026 Robert Chapek /s/ Robert Chapek 09/22/2026 M. Ashton Hudson /s/ M. Ashton Hudson 09/22/2026 Bryce Roberts /s/ Bryce Roberts 09/22/2026 Picabo Street /s/ Picabo Street 09/22/2026