HOLMES STEPHEN P 4

What Happened Stephen P. Holmes, a director of Travel & Leisure Co. (TNL), was granted 4,125 deferred stock units (DSUs) on 2026-03-11. The transaction is coded as an award/acquisition (A) with a reported price of $0.00 and a total reported value of $0 (these are compensation units, not a cash purchase).

Key Details

• Transaction date: 2026-03-11; Form 4 filed: 2026-03-13 (appears timely).
• Security/amount: 4,125 deferred stock units (DSUs); reported price $0.00; reported value $0.
• Shares owned after transaction: Not specified in the filing (footnotes indicate inclusion of previously reported holdings).
• Footnotes of note:
  • F1: DSUs issued for retainer fees and annual equity grant; each DSU converts to one share upon the director’s retirement or termination of Board service.
  • F2–F4: Refer to previously reported DSUs, common stock, and restricted stock units included in ownership tallies.
• Transaction code: A = Award/Grant (not an open-market buy or sale).

Context DSUs are deferred compensation: they don’t represent immediate share ownership or an open‑market purchase and generally convert to actual shares only when the director leaves the board or retires. Such grants are routine for board members and don’t necessarily signal the insider’s view on the company’s near‑term prospects.