Butera Stephanie Sobeck 4/A

What Happened Stephanie Sobeck Butera, a reporting person who ceased to be an officer of Marriott Vacations Worldwide (VAC) on March 6, 2026, was granted 12,726 derivative awards (reported as a grant/acquisition) on March 4, 2026. The award is a stock appreciation right (SAR) with a corrected conversion/exercise price of $68.025 (amendment filed Mar 12). The grant was recorded at $0.00 cash paid at acquisition; the SARs will only deliver value if the company’s stock rises above the exercise price when they are settled.

Key Details

• Transaction date: March 4, 2026 (amended Form 4 filed March 12, 2026 to correct exercise price).
• Award: 12,726 stock appreciation rights (derivative award). Reported acquisition price: $0.00; corrected exercise/conversion price: $68.025 (footnote F1).
• Vesting: Vests in four equal installments over four years beginning February 15, 2027 (footnote F2).
• Shares owned after transaction: Not specified in this amended Form 4.
• Filing notes: This is an amended filing correcting the exercise price; the original Form 4 was filed March 6, 2026 with an incorrect price. There is no indication in this filing that the report was late.
• Remarks: The reporting person ceased to be an officer of the issuer as of March 6, 2026.

Context This was a compensation grant (SARs), not a cash purchase or sale. SARs are derivative awards that provide value only if the stock price exceeds the exercise price at settlement; they do not represent immediate stock ownership or cash proceeds. Grants to executives and officers are common as compensation and do not by themselves signal buying or selling intent in the market.