Insider Transaction: Hyatt Trustee Reports 40,418 Convertible Class B Shares

Rhea-AI Filing Summary

Hyatt Hotels Corporation (H) reporting person R.A. G.C. Trust #1 BTP, through Maroon Private Trust Company, LLC as trustee, reported a transaction dated 08/13/2025 in which 40,418 shares of Class B Common Stock were acquired under transaction code G. The filing shows the Class B shares are convertible into one share of Class A Common Stock each, and the report lists 40,418 underlying Class A shares with a reported price of $0. The ownership form is shown as Direct. The remarks state the trustee has investment power, the beneficiary lacks investment power, and the reporting person may be part of a 10% owner group due to voting agreements and transfer limitations. The form is signed by the trustee president on 08/15/2025.

Insights

Securities Analyst

TL;DR: A trustee-reported acquisition of 40,418 Class B shares, convertible to Class A, increases direct holdings and is disclosed as part of a 10% owner group.

This Form 4 documents a non-derivative acquisition coded G of 40,418 Class B shares on 08/13/2025, with corresponding conversion mechanics to Class A shares noted. The filing emphasizes the trustee's investment power and the reporting person’s potential membership in a 10% owner group, which is relevant for control and voting analysis. Transaction code G typically denotes a gift or similar transfer; the reported price of $0 aligns with a non-purchase transfer. For investor assessment, this disclosure affects shareholding concentration and governance considerations but does not provide operating or financial performance information.

Corporate Governance Expert

TL;DR: The filing highlights governance implications: convertible Class B shares, trustee investment power, and group voting agreements could affect control dynamics.

The Form 4 clarifies that each Class B share converts into one Class A share and may convert automatically on transfer, which matters for dilution and voting structure. The trustee (Maroon Private Trust Company, LLC) asserts investment power while disclaiming beneficiary control, and the reporting person notes potential group membership due to voting agreements and transfer limits. These facts are material to understanding who controls voting rights and how these 40,418 shares might influence corporate governance, though the transaction itself is non-economic in nature as filed.

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

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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^*

R.A. G.C. Trust #1 BTP

(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			40,418	(1)	(1)	Class A Common Stock	40,418	$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
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