Chaffin Patrick S 4

What Happened

• Patrick S. Chaffin, EVP & COO of Ryman Hospitality Properties (RHP), had restricted stock units convert into a total of 8,834 shares on March 15, 2026 (reported on Form 4 filed 2026-03-16). No cash was paid for these conversions (report shows $0.00 per share).
• Of the 8,834 shares issued upon vesting, 3,479 shares were withheld to satisfy tax withholding obligations, leaving Mr. Chaffin with 5,355 net shares. The awards included both time-based RSUs and performance-based RSUs.

Key Details

• Transaction date: March 15, 2026; Form 4 filed March 16, 2026 (timely — within the normal two-business-day window).
• Reported entries: conversions/exercises of derivatives (code M) for 887, 921, 827, 944 and 5,255 shares (total 8,834); tax-withholding dispositions (code F) of 350, 363, 326, 372 and 2,068 shares (total 3,479).
• Net shares retained by Mr. Chaffin after withholding: 5,355 (breakdowns per footnotes: retained 537, 558, 501, 572, and 3,187 respectively).
• These were vesting/award conversions (not open-market purchases or sales); the withheld shares reflect tax withholding rather than a market sale.

Context

• This was not a buy or a disposition for investment purposes but a routine vesting and conversion of restricted stock units (including dividend equivalents and performance-based units). Such transactions are common for executives and do not by themselves indicate a change in insider sentiment.
• "M" in the filing denotes exercise/conversion of a derivative (here, RSU/PSU vesting); "F" denotes shares withheld to cover tax obligations (a cashless withholding).