Park Hotels & Resorts Announces CIO Thomas Morey Departure

What Happened
Park Hotels & Resorts Inc. filed an 8-K announcing that Thomas C. Morey, Executive Vice President and Chief Investment Officer, departed effective September 8, 2026. Mr. Morey and the company executed a Separation Agreement and Release dated September 9, 2026 that governs his severance and related obligations.

Key Details

• Separation effective date: September 8, 2026; Separation Agreement signed September 9, 2026 (Exhibit 10.1).
• Severance: Mr. Morey is entitled to the severance payments and benefits set forth in the company’s Executive Severance Plan for an EVP terminated by the company without “cause” (the filing does not disclose dollar amounts).
• Conditions: Payment is contingent on Mr. Morey not revoking the agreement during the seven-day revocation period and on compliance with non-solicitation and non-competition obligations for 12 months after the Separation Date.
• Release: Mr. Morey agreed to a general release of claims against the company.

Why It Matters
This is a material executive change affecting the company’s investment leadership. The Separation Agreement establishes the framework for any severance and imposes restrictive covenants and a release that could limit Mr. Morey’s post-employment activities. Investors should note the leadership vacancy and review the full Separation Agreement (Exhibit 10.1) for complete terms; no specific severance amounts were disclosed in the filing.