Brown Michael Dean 4

What Happened

• Michael Dean Brown, President & CEO of Travel & Leisure Co. (TNL), had previously-granted restricted stock units (RSUs) and performance share units (PSUs) vest on 2026-03-10, resulting in the issuance of 69,032 shares (acquired at $0.00). To cover the tax liability from the vesting, 27,165 shares were withheld/disposed to the issuer at $71.12 per share, generating $1,931,975. Net delivery to Brown after withholding was 41,867 shares.

Key Details

• Transaction date: 2026-03-10; Form 4 filed: 2026-03-12 (timely — within the two-business-day reporting window).
• Awarded/acquired: 69,032 shares (footnote F1 — vesting of RSUs/PSUs).
• Shares withheld/disposed to issuer for taxes: 27,165 shares at $71.12, total $1,931,975 (footnote F3).
• Net shares received by insider: 41,867 (69,032 awarded minus 27,165 withheld).
• Transaction codes: A = award/acquisition on vesting; D = disposition to issuer (tax withholding).
• Footnotes indicate these were vesting-related shares and previously reported grant/units (F1–F4).
• Shares owned after the transaction are not specified in the filing.

Context

• This filing reflects compensation vesting and routine tax withholding, not an open-market sale of shares by the insider; such withholding is common and does not necessarily signal insider sentiment. No exercise of options, no 10b5-1 plan or gift was reported.