Hoag Erik D 4

What Happened

• Erik D. Hoag, Chief Financial Officer of Travel & Leisure Co. (TNL), was granted 27,272 restricted stock units (RSUs) on March 11, 2026. The grant was recorded at $0.00 per unit (an equity award, not a purchase), so no cash was exchanged.
• The filing shows an award transaction (code A) and does not represent a sale or market purchase.

Key Details

• Transaction date: March 11, 2026; Form 4 filed March 13, 2026 (appears timely).
• Award: 27,272 restricted stock units; reported acquisition price $0.00 (award/grant).
• Vesting: Units vest in four equal installments on each of the first four anniversaries of March 15, 2026, subject to continuous employment; one share of common stock will be delivered for each vested RSU (footnote F1).
• Shares owned after transaction: Not specified in this filing. Footnote F2 states that holdings include previously reported restricted stock units.
• Transaction code: A = Award/Grant of equity (not a buy or sell).

Context

• RSUs are stock awards that convert to shares only after they vest; they are compensation rather than an open-market purchase and do not by themselves signal buying or selling intent.
• Because these RSUs vest over multiple years and convert to one share per unit upon vesting, their ultimate value to the insider depends on Travel & Leisure’s future share price and continued employment.