RICHARDS GEOFFREY 4

What Happened

• Geoffrey Richards, Chief Operating Officer, Vacation Ownership at Travel & Leisure Co. (TNL), had restricted stock units and performance share units vest on March 10, 2026. He was issued 49,379 shares (acquired at $0.00 on vesting).
• Simultaneously, 19,433 of those shares were disposed to the issuer as tax withholding at $71.12 per share, a withholding value of $1,382,075. This was a tax-withholding disposition to the company, not an open-market sale.

Key Details

• Transaction date: 2026-03-10; filing date: 2026-03-12 (appears timely).
• Awarded/vested shares: 49,379 (acquired at $0.00 per share; RSU/PSU vesting).
• Shares withheld/disposed: 19,433 at $71.12 per share; total withheld value ≈ $1,382,075.
• Footnotes: F1 = shares from vesting of previously granted RSUs/PSUs; F3 = shares withheld to cover tax liability; F4 = some units were previously reported.
• Shares owned after transaction: not specified in the provided Form 4.

Context

• This was a routine vesting of equity compensation with shares withheld to satisfy tax obligations — a common administrative transaction that does not signal an open-market sale by the insider.
• No option exercise or open-market purchase occurred; the disposition was to the issuer solely for tax withholding purposes.