HERRERA GEORGE 4

What Happened
George Herrera, a director of Travel & Leisure Co. (TNL), sold a total of 2,962 shares of company stock in open-market transactions. On 2026-03-17 he disposed of 1,214 shares at a weighted average price of $70.48 for proceeds of $85,563, and on 2026-03-18 he disposed of 1,748 shares at $70.31 for proceeds of $122,902 — total proceeds about $208,465. These were sales (not purchases or option exercises) and are typically considered routine insider selling.

Key Details

• Transaction dates and prices:
  • 2026-03-17: Sale of 1,214 shares @ weighted avg $70.48 (range reported $70.47–$70.495) — $85,563 (see footnote F1).
  • 2026-03-18: Sale of 1,748 shares @ $70.31 — $122,902.
• Total shares sold: 2,962; total proceeds: ~$208,465.
• Shares owned after transaction: Not specified in the provided filing summary; the form references previously reported common shares and deferred stock units (footnotes F2 and F3).
• Footnotes of note:
  • F1 explains the 3/17 price is a weighted average across multiple executions (range $70.47–$70.495).
  • F2/F3 reference previously reported holdings and deferred stock units.
• Filing timeliness: Form 4 was filed 2026-03-18 for trades on 3/17–3/18; this appears to be timely under standard Form 4 reporting windows.

Context
These were open-market sales by a company director. Sales by insiders can be for many personal reasons (diversification, tax planning, etc.) and do not by themselves prove a change in company outlook. Purchases generally carry more informational weight; retail investors should consider insider trades alongside other fundamentals and news before drawing conclusions.