HUNTER JAMES H IV 4

What Happened
James H. Hunter IV, Executive Vice President, General Counsel and Secretary of Marriott Vacations Worldwide (VAC), exercised stock options to acquire 7,444 shares at an exercise price of $61.71 per share (cost = $459,369) on February 27, 2026. On the same day he disposed of 7,159 of those shares to the issuer at $65.94 per share for proceeds of $472,064. The transactions are recorded as an option exercise (code M) and a disposition to the issuer (code D).

Key Details

• Transaction date: 2026-02-27. Filing date: 2026-03-02 (appears timely).
• Option exercise: 7,444 shares at $61.71 = $459,369 (acquired).
• Sale/disposition: 7,159 shares at $65.94 = $472,064 (disposed to issuer).
• Net difference: 7,444 exercised − 7,159 sold = 285 shares likely retained (filing excerpt does not list total shares held after the transaction).
• Footnote: These options vested in four equal installments over the four-year period beginning Feb 15, 2017 (F1).
• No 10b5-1 plan or late-filing flag is indicated in the provided excerpt.

Context
This is an options exercise with an immediate partial disposition (commonly called a cashless exercise or sell-to-cover), where shares are sold to cover the exercise cost/taxes. Such transactions are often routine for executives converting vested options into stock and meeting tax obligations; they are not by themselves a clear bullish or bearish signal.