BUCKMAN JAMES E 4

What Happened
James E. Buckman, a director of Travel & Leisure Co. (TNL), was granted 1,188 deferred stock units on March 31, 2026. The Form 4 reports the acquisition as an award (code A) at $0.00 per unit (no cash paid). These are dividend-issued deferred stock units (DSUs) that entitle him to receive one share of common stock for each unit upon his retirement or termination from the Board.

Key Details

• Transaction date and type: 2026-03-31 — Grant/award of 1,188 deferred stock units (code A). Reported acquisition price: $0.00.
• Shares owned after transaction: Not quantified in the provided summary; the filing notes holdings include previously reported DSUs, RSUs and shares (see footnotes F2–F4).
• Footnotes of note:
  • F1: These are deferred stock units issued for dividends; each unit converts to one share after retirement/termination.
  • F2–F4: References to previously reported deferred stock units (F2), previously reported restricted stock units (F3), and previously reported shares of common stock (F4).
• Filing timeliness: Form 4 was filed on 2026-04-02 for a 2026-03-31 transaction — appears filed within the usual two-business-day window.

Context
Deferred stock units are a common director compensation mechanism and do not represent an immediate purchase or sale of stock. They typically do not signal near-term trading intent because they convert to shares only upon departure from the board. The reported acquisition amount of $0 reflects that this was an awarded grant (no cash outlay); the market value of the units would equal the company share price multiplied by 1,188 but is not stated in the filing.