MARTINEZ LUCINDA 4

What Happened

• Lucinda Martinez, a director of Travel & Leisure Co. (TNL), was granted 40 deferred stock units (DSUs) on March 31, 2026. The Form 4 reports the acquisition at $0.00 per unit (total $0), reflecting that this was an award/compensation grant rather than an open-market purchase or sale.
• The filing shows these DSUs were issued for dividends and each unit entitles Martinez to receive one share of common stock upon her retirement or termination of Board service. This is routine board compensation, not an immediate cash or market trade.

Key Details

• Transaction date: 2026-03-31; Form 4 filed: 2026-04-02 (filed within the standard two-business-day deadline for Form 4s).
• Transaction type/code: Award/Grant (A).
• Amount: 40 deferred stock units; reported acquisition price: $0.00 (award, not a purchase).
• Shares owned after the transaction: not specified in the filing summary provided.
• Footnotes: F1 = DSUs issued for dividends (convert to one share each upon retirement/termination); F2–F4 note previously reported DSUs, common stock, and restricted stock units included in prior reports.

Context

• Deferred stock units are a form of compensation that convert to actual shares only when the director leaves the board (or at another specified settlement event); they do not represent an immediate sale or open-market purchase and therefore are not a direct signal of the insider buying or selling in the market.
• The grant is small (40 units) and appears to be routine director compensation rather than material insider trading activity.