ESFAHANI SY 4

What Happened

• Sy Esfahani, Chief Technology Officer of Travel & Leisure Co. (TNL), was granted 12,587 restricted stock units (RSUs) on March 11, 2026. The award was recorded at $0.00 (no cash paid at grant). Each RSU converts to one share of common stock upon vesting.

Key Details

• Transaction date: March 11, 2026; Form 4 filed March 13, 2026 (timely).
• Transaction type: Award/Grant (code A); grant price reported as $0.00.
• Vesting: RSUs vest in four equal installments on each of the first four anniversaries of March 15, 2026, subject to continuous employment (footnote F1).
• Shares owned after transaction: not specified in the transaction details provided; footnotes indicate inclusion of previously reported RSUs (F2) and previously reported shares (F3).
• No immediate sale or exercise occurred; this is an equity compensation award, not an open-market purchase or sale.

Context

• RSUs represent a future right to receive shares if vesting conditions are met; they are not tradable shares until vested and issued. Such grants are standard executive compensation and do not by themselves signal a buy or sell decision in the market.