Brady Louise F. 4

What Happened

• Louise F. Brady, a director of Travel & Leisure Co. (TNL), was granted 5,524 deferred stock units on March 11, 2026. The units were reported as an award/acquisition (code A) at $0.00 per unit (total reported value $0).
• These are deferred stock units (DSUs) issued for retainer fees and an annual equity grant; each DSU entitles the holder to one share of common stock upon the director’s retirement or termination of Board service (see footnote F1).

Key Details

• Transaction date: 2026-03-11; Form 4 filed: 2026-03-13 (appears timely).
• Instrument: Deferred stock units (award, code A). Quantity: 5,524 units; acquisition price reported $0.00.
• Shares owned after the transaction: Not disclosed in the provided summary.
• Relevant footnotes: F1 = DSUs issued for retainer/annual grant, convertible to shares on retirement/termination; F2 = includes previously reported DSUs; F3 = previously reported restricted stock units.
• No 10b5-1 plan, sale, purchase, or tax-withholding sale was reported in this filing.

Context

• This award is routine equity compensation for a board member and does not represent an open-market purchase or sale. Because the DSUs vest/settle upon retirement or termination, they are not immediately tradeable and should be viewed as deferred compensation rather than an active bullish or bearish trading signal.