Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN 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 *
RALCORP HOLDINGS INC /MO
  2. Issuer Name and Ticker or Trading Symbol
VAIL RESORTS INC [MTN]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
800 MARKET STREET, SUITE 2900
3. Date of Earliest Transaction (Month/Day/Year)
06/04/2009
(Street)

ST LOUIS, MO 63101
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 06/04/2009   J(1)(2)(3)(4)   3,503,263 D (1) (2) (3) (4) 2,690,843 I (5) See Footnote (5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Forward Sale Contract (obligation to sell) (1) (1) 06/04/2009   J(1)     890,000   (1)   (1) Common Stock 890,000 $ 0 (1) 0 I (5) See Footnote (5)
Forward Sale Contract (obligation to sell) (2) (3) (2) (3) 06/04/2009   J(2)(3)     985,050   (2)(3)   (2)(3) Common Stock 985,050 $ 0 (2) (3) 0 I (5) See Footnote (5)
Forward Sale Contract (obligation to sell) (2) (3) (2) (3) 06/04/2009   J(2)(3)     985,050   (2)(3)   (2)(3) Common Stock 985,050 $ 0 (2) (3) 0 I (5) See Footnote (5)
Forward Sale Contract (obligation to sell) (4) (4) 06/04/2009   J(4)     1,200,000   (4)   (4) Common Stock 1,200,000 $ 0 (4) 0 I (5) See Footnote (5)

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
RALCORP HOLDINGS INC /MO
800 MARKET STREET
SUITE 2900
ST LOUIS, MO 63101
    X    
RH FINANCIAL CORP
800 MARKET STREET
ST LOUIS, MO 63101
    X    

Signatures

 /s/ Charles G. Huber, Jr., Secretary   06/08/2009
**Signature of Reporting Person Date

 /s/ Charles G. Huber, Jr., Secretary   06/08/2009
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(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) This report relates to the early settlement and termination of one tranche (Tranche A) of a forward sale contract that the Reporting Person entered into on October 31, 2005 previously reported on the Reporting Person's Form 4 dated November 22, 2005 (the "Prior Form 4"). As described therein, the forward sale contract provided that the Reporting Person would delivery a number of shares of Vail common stock (or, at the Reporting Person's option, the cash equivalent of such shares) pursuant to a specified formula. In connection with the early settlement and termination, the Reporting Person expects to deliver 787,383 shares and retain the remaining 102,617 shares that were subject to the forward sale contract on June 9, 2009. As previously reported on the Prior Form 4, the Reporting Person previously received $50,518,214.34 in consideration of the forward sale contract, a portion of which related to the shares covered by Tranche A.
(2) This report relates to the early settlement and termination of both tranches of a forward sale contract that the Reporting Person entered into on March 22, 2006 previously reported on the Reporting Person's Form 4 dated April 19, 2006. As described therein, the forward sale contract provided that the Reporting Person would delivery a number of shares of Vail common stock (or, at the Reporting Person's option, the cash equivalent of such shares) pursuant to a specified formula. In connection with the early settlement and termination, the Reporting Person expects to deliver 949,392 shares and retain the remaining 35,658 shares that were subject to one tranche of the forward sale contract and deliver 861,328 shares and retain the remaining 123,722 shares that were subject to other tranche of the forward sale contract on June 9, 2009.
(3) As previously reported on the Reporting Person's Form 4 dated April 19, 2006, the Reporting Person previously received $60,011,472.22 in consideration of the forward sale contract.
(4) This report relates to the early settlement and termination of a forward sale contract that the Reporting Person entered into on October 20, 2006 previously reported on the Reporting Person's Form 4 dated November 6, 2006. As described therein, the forward sale contract provided that the Reporting Person would delivery a number of shares of Vail common stock (or, at the Reporting Person's option, the cash equivalent of such shares) pursuant to a specified formula. In connection with the early settlement and termination, the Reporting Person expects to deliver 905,160 shares and retain the remaining 294,840 shares that were subject to the forward sale contract on June 9, 2009. As previously reported on the Reporting Person's Form 4 dated November 6, 2006, the Reporting Person previously received $29,468,592.44 in consideration of the forward sale contract.
(5) The securities are owned directly by RH Financial Corporation, a Nevada corporation and wholly-owned subsidiary of the Reporting Person. The Reporting Person is an indirect beneficial owner of the reported securities.

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