BTP Washington Trust Reports Gift of 8,084 Hyatt Class B Shares

Rhea-AI Filing Summary

BTP Washington Trust, acting through Maroon Private Trust Company as trustee, reported a Section 16 Form 4 disclosing a transaction in Hyatt Hotels Corp (H). On 08/13/2025 the reporting person recorded a transaction coded G affecting 8,084 shares of Class B Common Stock. The filing states Class B shares are convertible into Class A shares on a one-for-one basis and notes the reporting person is a member of a 10% owner group and disclaims beneficial ownership except to the extent of pecuniary interest. The form was signed by Derek Arend, President of Trustee, on 08/15/2025.

Positive

• Timely disclosure of the transaction on Form 4 filed and signed within two days of the reported transaction date
• Clear statement that Class B shares convert one-for-one into Class A shares, explaining share class mechanics
• Explicit trustee relationship disclosed: Maroon Private Trust Company serves as trustee with investment power

Negative

• None.

Insights

Securities Compliance Analyst

TL;DR: Timely Form 4 reports a Code G transaction of 8,084 Class B shares and clarifies trustee and group relationships.

The filing documents a Code G transaction, which indicates a gift or similar transfer subject to Section 16 reporting. It specifies that the reporting entity is a trust administered by Maroon Private Trust Company and may be part of a 10% owner group. The inclusion of the conversion feature for Class B shares and the trustee's disclaimer of beneficial ownership except for pecuniary interest are important compliance details. No amounts or prices for consideration are reported beyond the zero conversion price equivalence to Class A shares, consistent with in-kind transfers. The filing appears complete for the disclosed transaction.

Corporate Governance Specialist

TL;DR: Disclosure clarifies ownership structure and transfer mechanics but provides no additional economic detail.

The form provides clear language that Class B shares convert one-for-one into Class A shares and will convert on transfer except for limited permitted transfers. It highlights that Maroon Private Trust Company holds investment power as trustee while the beneficiary lacks investment power, and that the reporting person may be in a group via voting agreements. These statements matter for voting and control analysis, though the filing does not disclose valuation, recipient identity, or whether the transfer changed control stakes materially.

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
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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^*

BTP 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			8,084	(1)	(1)	Class A Common Stock	8,084	$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.
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FAQ

What transaction did BTP Washington Trust report for Hyatt Hotels (H)?

The Form 4 reports a Code G transaction on 08/13/2025 affecting 8,084 shares of Class B Common Stock.

Does the filing state how Class B shares convert for Hyatt (H)?

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

Who is the reporting person and who holds investment power?

The reporting person is BTP Washington Trust, with Maroon Private Trust Company, LLC serving as trustee and holding investment power.

Is the reporting person part of a larger ownership group?

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

Who signed the Form 4 and when was it signed?

The Form 4 was signed by /s/ Derek Arend, President of Trustee on 08/15/2025.