CATES ANDREW F. 4

What Happened Andrew F. Cates, newly appointed director of TripAdvisor, was granted 5,935 restricted stock units (RSUs) on March 23, 2026. The Form 4 reports the acquisition at $0.00 (typical for RSU grants) and the RSUs vest in full on June 18, 2026. This is an award/compensation grant connected to his board appointment on March 22, 2026, not an open-market purchase or sale.

Key Details

• Transaction date and code: 2026-03-23, Code A (Award/Grant)
• Shares/units granted: 5,935 RSUs; reported acquisition price $0.00
• Vesting: RSUs vest in full on June 18, 2026 (per filing footnote)
• Shares owned after transaction: not specified in the provided filing excerpt
• Filing timeliness: Form 4 was filed on 2026-03-27 after a procedural delay obtaining EDGAR access codes (footnote indicates the filing was delayed and submitted promptly once codes were received) — marked late (L)
• Footnotes: Grant made under Tripadvisor, Inc. 2023 Stock and Annual Incentive Plan in connection with board appointment

Context RSUs are a form of deferred equity compensation that convert to shares only upon vesting; the $0 reported acquisition value reflects grant reporting conventions rather than a cash purchase. Grants tied to board appointments are routine director compensation and do not by themselves indicate insider buying or selling intent. The late filing appears procedural (EDGAR access code delay) and was corrected promptly.