RICKLES RONALD L 4

What Happened

• Ronald L. Rickles, a director of Travel & Leisure Co. (TNL), was granted 488 deferred stock units on 2026-03-31. The units were reported at $0.00 per unit (award), so no cash was exchanged; total reported value at grant is $0. These deferred stock units represent the right to receive one share of common stock per unit upon Mr. Rickles’ retirement or termination of board service.

Key Details

• Transaction date: 2026-03-31; transaction type: Award/Grant (code A); reported price: $0.00 per unit.
• Shares/units granted: 488 deferred stock units. Filing does not list total shares owned after this grant.
• Footnotes: F1 = dividend-equivalent deferred stock units that convert to one share each upon retirement/termination; F2 = includes previously reported deferred stock units; F3 = previously reported restricted stock units.
• Filing timeliness: Report filed 2026-04-02 (appears timely under the Form 4 2-business-day rule).

Context

• Deferred stock units are a form of director compensation and do not represent an immediate purchase of company shares; they convert to actual shares only when certain service termination conditions are met. Such awards are typically routine compensation and should be interpreted as compensation-related, not an immediate bullish or bearish trading signal.