Brown Michael Dean 4

What Happened

• Michael Dean Brown, President & CEO of Travel & Leisure Co. (TNL), was awarded 129,720 restricted stock units (RSUs) on March 11, 2026. The grant is reported as an acquisition at $0.00 (no cash exchanged); each RSU converts to one share of common stock upon vesting.

Key Details

• Transaction date and price: 2026-03-11; grant reported at $0.00 per unit (code A — award/grant).
• Grant size and vesting: 129,720 RSUs vest in four equal installments on each of the first four anniversaries of March 15, 2026 (subject to continuous employment). One share is issued per vested RSU. (Footnote F1)
• Ownership reporting: Footnotes indicate the filing includes previously reported RSUs and common stock (F2, F3); the filing excerpt provided does not state total shares beneficially owned after the grant.
• Filing timeliness: Form 4 was filed 2026-03-13 for a 2026-03-11 transaction — filed within the required two business days (not marked late).
• Role: Listed as President & CEO (Remarks).

Context

• This was a compensation award (RSUs), not a market purchase or sale. RSU grants are common executive compensation and do not require immediate cash outlay; they only translate into shares if and when they vest. Such awards can align management’s interests with shareholders but should not be interpreted alone as a buy or sell signal.