Insider Form 4: JNP Washington Trust Converts 13,022 Hyatt Shares

Rhea-AI Filing Summary

Hyatt Hotels Corporation (H) Form 4 filing: The reporting person, JNP Washington Trust (c/o Maroon Private Trust Company, LLC), reported a transaction dated 08/13/2025 that resulted in the acquisition of 13,022 shares of Class A Common Stock through conversion of Class B Common Stock at a reported price of $0. The filing notes that Class B shares are convertible into one share of Class A at the holder's option and convert automatically on most transfers. The reporter is a trustee with investment power and may be part of a 10% owner group; it disclaims beneficial ownership except for pecuniary interest.

Positive

• Conversion transaction clearly documented with transaction code and share amount (13,022) disclosed
• Trustee and investment power disclosed, clarifying decision-making authority over the reported shares
• Conversion mechanics explained (Class B converts to Class A, including automatic conversion on most transfers)

Negative

• Post-transaction beneficial ownership amount unclear on the form line (table shows 0) which limits assessment of net position change
• No prior holdings disclosed in this filing to contextualize the transaction size relative to previous ownership

Insights

Securities Analyst

TL;DR: Routine conversion recorded; trustee reports conversion of 13,022 Class B into Class A, with limited disclosed ongoing ownership.

The Form 4 documents a conversion-based acquisition (Transaction Code G) of 13,022 shares of Class A Common Stock on 08/13/2025 at a $0 reported price, consistent with charter conversion terms described in the remarks. The filing clarifies that Maroon Private Trust Company, LLC serves as trustee and holds investment power, and the reporting person may be a member of a 10% owner group while disclaiming beneficial ownership beyond pecuniary interest. There is no disclosure here of prior or post-transaction aggregate holdings beyond the reported line item showing 0 shares beneficially owned following the transaction line in the table.

Corporate Governance Expert

TL;DR: Governance note: conversion mechanics and trustee/investment-power disclosure are properly documented; no material transfer of economic control disclosed.

The filing appropriately explains conversion rights of Class B to Class A and includes trustee and group membership remarks, which are important for ownership attribution under Section 16. The reporting person identifies Maroon Private Trust Company, LLC as trustee with investment power and disclaims beneficial ownership except for pecuniary interest, aligning with common trust reporting practice. The disclosure does not show a material change in ultimate economic ownership or voting control within this filing.

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

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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^*

JNP Washington Trust

(Last) (First) (Middle)

C/O MAROON PRIVATE TRUST COMPANY, LLC

350 SOUTH MAIN AVENUE, SUITE 401

(Street)

SIOUX FALLS, SD 57104

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Hyatt Hotels Corp [ H ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/13/2025

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

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
Class B Common Stock	(1)	08/13/2025		G			13,022	(1)	(1)	Class A Common Stock	13,022	$0	0	D

Explanation of Responses:

1. As provided in the Issuer's Amended and Restated Certificate of Incorporation, each share of Class B Common Stock is convertible at any time, at the option of the holder, into one share of Class A Common Stock. In addition, each share of Class B Common Stock will convert automatically into one share of Class A Common Stock upon any transfer, whether or not for value, except for certain permitted transfers described in the Issuer's Amended and Restated Certificate of Incorporation.

Remarks:

Member of 10% owner group. Maroon Private Trust Company, LLC serves as trustee of the Reporting Person and has investment power over the shares beneficially owned by the Reporting Person. The beneficiary of the Reporting Person does not have investment power over the shares of Class B Common Stock held by the Reporting Person. In addition, the Reporting Person may be deemed to be a member of a group because the Reporting Person has agreed to certain voting agreements and limitations on transfers of shares of Class A Common Stock and Class B Common Stock. The Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein.

	/s/ Derek Arend, President of Trustee	08/15/2025
	** 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 transaction did the Form 4 for Hyatt Hotels (H) report on 08/13/2025?

The filing reports a conversion-based acquisition (Transaction Code G) of 13,022 shares of Class A Common Stock on 08/13/2025 at a reported price of $0.

Who is the reporting person on this Form 4 for H?

The reporting person is JNP Washington Trust, represented by Maroon Private Trust Company, LLC as trustee, located in Sioux Falls, SD.

Does the filing say the reporting person has investment power over the shares?

Yes. The remarks state that Maroon Private Trust Company, LLC serves as trustee and has investment power over the shares beneficially owned by the reporting person.

Does the report indicate membership in any owner group for H?

Yes. The filing states the reporting person is a member of a 10% owner group and has agreed to certain voting agreements and transfer limitations.

What are the conversion terms for Class B Common Stock described in the filing?

The filing states each share of Class B Common Stock is convertible at the holder's option into one share of Class A Common Stock and converts automatically on most transfers.