[Form 4] Choice Hotels Intnl. Insider Trading Activity

Rhea-AI Filing Summary

Form 4 filing for Choice Hotels International Inc. (CHH) discloses that director Monte J. M. Koch purchased 834 shares of common stock on 07/03/2025 at a weighted-average price of $131.71. The filing indicates that the shares were bought in multiple transactions within the $131.28-$131.95 range. Following the purchase, Koch’s direct beneficial ownership rises to 20,511.74 shares. No derivative securities were involved in this transaction, and there are no dispositions reported. The transaction was reported individually (not jointly) and was filed on 07/07/2025.

Because the transaction represents an open-market insider purchase by a board member, it can be interpreted as a signal of personal confidence in the issuer; however, the total value of roughly $110,000 is relatively small compared with CHH’s typical trading volumes and market capitalization, limiting material impact.

Positive

• Director Monte J.M. Koch acquired 834 CHH shares at $131.71, increasing his direct stake to 20,511.74 shares

Negative

• None.

Insights

Securities Analyst

TL;DR: Director buys 834 CHH shares (~$110K); positive but immaterial to fundamentals.

The Form 4 shows an insider purchase, generally a constructive signal as it aligns management incentives with shareholders. The acquisition price cluster between $131.28 and $131.95 suggests a single trading session purchase. Post-trade ownership of ~20.5K shares equates to about $2.7 million at the purchase price, indicating meaningful personal exposure, yet the incremental addition is modest relative to CHH’s average daily volume and does not alter ownership structure materially. With no sales or derivative activity, there is no apparent hedging. Overall impact on valuation outlook is minimal but directionally positive.

Corporate Governance Expert

TL;DR: Fresh insider buy strengthens governance tone; size too small for major impact.

Director Koch’s open-market purchase demonstrates continued board-level skin-in-the-game, which governance frameworks view favorably. The filing is compliant—reported within two business days and signed by an attorney-in-fact. Absence of Rule 10b5-1 plan check-box suggests discretionary timing. Nevertheless, the purchase is less than 0.02% of CHH’s outstanding shares, so governance influence and ownership concentration remain unchanged. Investors may view this as incremental confidence rather than a catalyst.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Koch Monte JM

(Last) (First) (Middle)

915 MEETING STREET

SUITE 600

(Street)

NORTH BETHESDA MD 20852

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CHOICE HOTELS INTERNATIONAL INC /DE [ CHH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/03/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/03/2025		A		834	A	$131.71(1)	20,511.74	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Weighted average price, as these shares were purchased in multiple transactions at prices ranging from $131.28 to $131.95, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, additional information regarding the number of shares sold at each separate price within the range set forth in this footnote.

	Sharon Houle Randall, Attorney In Fact	07/07/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider activity was reported for CHH on Form 4?

Director Monte J.M. Koch bought 834 shares of Choice Hotels International common stock on 07/03/2025.

At what price did the CHH insider purchase occur?

The weighted-average purchase price was $131.71, with individual trades ranging from $131.28 to $131.95.

How many CHH shares does the director now own?

After the transaction, Koch directly owns 20,511.74 shares of Choice Hotels International.

Were any derivative securities involved in this Form 4 filing?

No. No options, warrants, or other derivative securities were reported in Table II.

When was the Form 4 for Choice Hotels filed?

The insider Form 4 was filed on 07/07/2025, two business days after the transaction date.

Does the filing indicate a Rule 10b5-1 trading plan?

The 10b5-1 check-box was not marked; the purchase appears to be discretionary.