Menon Rajeev 4

What Happened

• Rajeev Menon, President, APEC for Marriott International (MAR), was granted equity awards on Feb 13, 2026: 1,185 restricted stock units (RSUs) reported at $354.63 per share (total value $420,237) and 3,402 stock appreciation rights (SARs) reported with $0 immediate cash value (derivative award).
• These grants are awards (code A) — not open-market purchases or sales — and represent compensation rather than an immediate cash investment or divestiture.

Key Details

• Transaction date: 2026-02-13; Filing date: 2026-02-18 (filed 5 days after the transaction; this appears later than the typical 2-business-day Form 4 deadline).
• RSUs: 1,185 units at $354.63 each — total reported value $420,237.
• SARs (derivative): 3,402 units reported at $0 (will be settled in Class A common stock when/if vested/paid).
• Shares owned after the transaction: not disclosed in the excerpt provided.
• Footnotes: F1 — RSUs vest in three equal annual installments beginning Feb 15, 2027. F2 — SARs vest in three equal annual installments beginning Feb 15, 2027 and are settled in Class A common stock.

Context

• RSUs and SARs are typically compensatory awards that vest over time; they do not represent immediately tradable shares until vested and, for SARs, settled. These grants are routine executive compensation and should be viewed as such rather than an open-market purchase or sale.