Gustafson Lori M. 4/A

What Happened
Lori M. Gustafson, Executive Vice President and Chief Membership and Commercial Services Officer of Marriott Vacations Worldwide (VAC), was granted an award of 20,361 derivative units reported as stock appreciation rights (SARs) on March 4, 2026. The Form 4 shows acquisition at $0.00 (typical for an award); the correct conversion/exercise price for the SARs is $68.025 (amended correction). This was a grant/award (not a purchase or sale) and does not represent an immediate cash sale.

Key Details

• Transaction date: March 4, 2026 (Form 4 originally filed March 6, 2026; amended March 12, 2026 to correct exercise price).
• Award: 20,361 SARs reported as a derivative acquisition (code A). Reported acquisition price: $0.00; corrected exercise/conversion price: $68.025 (see footnote).
• Vesting: Vests in four equal installments over four years beginning February 15, 2027 (per footnote).
• Shares owned after transaction: Not specified in the provided summary of this filing.
• Filing status: This is an amended Form 4 correcting the previously reported conversion/exercise price; the original filing was made March 6, 2026.

Context
SARs are derivative awards that typically pay the difference between the stock price at exercise and the exercise price, either in cash or shares; they only deliver value if the company’s stock rises above $68.025 before exercise and after vesting. Because this is a grant, it is a routine compensation award and not a direct buy/sell signal. The amendment simply corrects the exercise price and does not change the grant size or vesting schedule.