MARSHALL KIMBERLY 4

What Happened

• Kimberly Marshall, Chief Human Resources Officer of Travel & Leisure Co. (TNL), was granted 20,979 restricted stock units (RSUs) on March 11, 2026. The RSUs were reported at $0.00 per unit (grant), so no cash changed hands at grant.
• The award is a compensation grant rather than an open-market purchase or sale. The RSUs will convert to one share of common stock for each vested unit when they vest.

Key Details

• Transaction date: 2026-03-11 (reported on Form 4 filed 2026-03-13). Transaction code: A (award/grant).
• Price: $0.00 per RSU; reported acquisition value $0.
• Vesting: Per footnote, the units vest in four equal installments on each of the first four anniversaries of March 15, 2026, subject to continuous employment. One share issued per vested RSU (F1).
• Shares owned after transaction: Not specified in the provided filing (footnotes indicate inclusion of previously reported RSUs and previously reported shares) (F2, F3).
• Filing timeliness: Reported two days after the transaction date — within the typical two-business-day Form 4 window (timely).

Context

• RSUs are a form of equity compensation that convert to shares only upon vesting and may be forfeited if employment ends before vesting; they are routine for executives and do not represent an immediate market purchase or sale.
• No sale or exercise occurred here; actual shares will appear in ownership only as RSUs vest (and any tax withholding or share-withholding at vesting would be reported separately).