Marriott (MAR) EVP sells at $285.36 & $288.70 after SAR exercises

Marriott International (MAR) disclosed insider activity by its EVP & General Counsel on 11/07/2025.

Rhea-AI Filing Summary

Marriott International (MAR) disclosed insider activity by its EVP & General Counsel on 11/07/2025. The executive exercised stock appreciation rights (SARs) into 10,110 and 10,000 shares of Class A common stock and sold 2,612 shares at a weighted average price of $285.36 and 2,871 shares at a weighted average price of $288.70.

Upon the exercises, 7,129 and 7,498 shares were withheld to pay the exercise price and taxes, as stated in the footnotes. Following these transactions, direct holdings were 24,733 Class A shares, with 6,359 restricted stock units outstanding. The SARs exercised were originally granted with exercise prices of $139.54 (grant vesting from 02/20/2018; expiring 02/20/2028) and $124.79 (grant vesting from 03/05/2019; expiring 03/05/2029).

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 9 txns

Insider Reiss Rena Hozore

Role EVP & General Counsel

Sold 5,483 shs ($1.57M)

Approx. gross sale proceeds $1.57M

Approx. exercise cost $2.66M

Type	Security	Shares	Price	Value
Exercise	Stock Appreciation Rights	10,110	$283.76	$2.87M
Exercise	Stock Appreciation Rights	10,000	$286.725	$2.87M
Exercise	Class A Common Stock	10,110	$139.54	$1.41M
Exercise	Class A Common Stock	10,000	$124.79	$1.25M
Sale	Class A Common Stock	2,612	$285.3575	$745K
Sale	Class A Common Stock	2,871	$288.7045	$829K
Exercise Price or Tax Liability	Class A Common Stock	7,129	$286.725	$2.04M
Exercise Price or Tax Liability	Class A Common Stock	7,498	$283.76	$2.13M
holding	Class A Common - Restricted Stock Units	--	--	--

Holdings After Transaction: Stock Appreciation Rights — 5,735 contracts (Direct); Class A Common Stock — 24,733 shares (Direct); Class A Common - Restricted Stock Units — 6,359 shares (Direct)

Footnotes (6)

1. F1. The Reporting Person sold a total of 2,612 shares at a weighted average sale price of $285.36 with a maximum price of $285.50 and a minimum price of $285.17.
2. F2. The Reporting Person sold a total of 2,871 shares at a weighted average sale price of $288.70 with a maximum price of $288.87 and a minimum price of $288.64.
3. F3. The Reporting Person received a net of 2,871 shares of common stock upon the exercise of 10,000 Stock Appreciation Rights ("SARs"). A total of 7,129 shares of common stock underlying such SARs were withheld in payment of the exercise price and to satisfy the withholding tax obligation resulting from the exercise.
4. F4. The Reporting Person received a net of 2,612 shares of common stock upon the exercise of 10,110 Stock Appreciation Rights ("SARs"). A total of 7,498 shares of common stock underlying such SARs were withheld in payment of the exercise price and to satisfy the withholding tax obligation resulting from the exercise.
5. F5. SARs, settled in Class A Common Stock and vesting in three equal installments beginning on the first anniversary of the grant date of 02.20.2018.
6. F6. SARs, settled in Class A Common Stock and vesting in three equal installments beginning on the first anniversary of the grant date of 03.05.2019.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did MAR report?

The EVP & General Counsel exercised SARs into 10,110 and 10,000 Class A shares on 11/07/2025, sold 2,612 shares at $285.36 and 2,871 shares at $288.70, and had shares withheld to cover costs.

At what prices were MAR shares sold in this filing?

Weighted average sale prices were $285.36 (range $285.17–$285.50) for 2,612 shares and $288.70 (range $288.64–$288.87) for 2,871 shares.

How many MAR shares does the insider own after the transactions?

Direct holdings were 24,733 Class A shares, with 6,359 restricted stock units outstanding.

What were the SAR exercise prices and terms?

The SARs had exercise prices of $139.54 (vesting beginning 02/20/2018; expiring 02/20/2028) and $124.79 (vesting beginning 03/05/2019; expiring 03/05/2029).

How were taxes and exercise costs handled for the SAR exercises?

A total of 7,129 and 7,498 shares were withheld to pay the exercise price and satisfy withholding taxes, per the footnotes.

What is the insider’s role at Marriott (MAR)?

The reporting person is an Officer, serving as EVP & General Counsel.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 11/12/2025 - 04:52 PM Learn about SEC filing dates

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^*

Reiss Rena Hozore

(Last) (First) (Middle)

7750 WISCONSIN AVENUE

(Street)

BETHESDA MD 20814

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MARRIOTT INTERNATIONAL INC /MD/ [ MAR ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP & General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
11/07/2025

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
Class A Common Stock	11/07/2025		M		10,110	A	$139.54	34,843	D
Class A Common Stock	11/07/2025		M		10,000	A	$124.79	44,843	D
Class A Common Stock	11/07/2025		S		2,612(1)	D	$285.3575	42,231	D
Class A Common Stock	11/07/2025		S		2,871(2)	D	$288.7045	39,360	D
Class A Common Stock	11/07/2025		F(3)		7,129	D	$286.725	32,231	D
Class A Common Stock	11/07/2025		F(4)		7,498	D	$283.76	24,733	D
Class A Common - Restricted Stock Units								6,359	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
Stock Appreciation Rights	$139.54	11/07/2025		M			10,110	(5)	02/20/2028	Class A Common Stock	10,110	$283.76	0.0000	D
Stock Appreciation Rights	$124.79	11/07/2025		M			10,000	(6)	03/05/2029	Class A Common Stock	10,000	$286.725	5,735	D

Explanation of Responses:

1. The Reporting Person sold a total of 2,612 shares at a weighted average sale price of $285.36 with a maximum price of $285.50 and a minimum price of $285.17.

2. The Reporting Person sold a total of 2,871 shares at a weighted average sale price of $288.70 with a maximum price of $288.87 and a minimum price of $288.64.

3. The Reporting Person received a net of 2,871 shares of common stock upon the exercise of 10,000 Stock Appreciation Rights ("SARs"). A total of 7,129 shares of common stock underlying such SARs were withheld in payment of the exercise price and to satisfy the withholding tax obligation resulting from the exercise.

4. The Reporting Person received a net of 2,612 shares of common stock upon the exercise of 10,110 Stock Appreciation Rights ("SARs"). A total of 7,498 shares of common stock underlying such SARs were withheld in payment of the exercise price and to satisfy the withholding tax obligation resulting from the exercise.

5. SARs, settled in Class A Common Stock and vesting in three equal installments beginning on the first anniversary of the grant date of 02.20.2018.

6. SARs, settled in Class A Common Stock and vesting in three equal installments beginning on the first anniversary of the grant date of 03.05.2019.

	Andrew P.C. Wright, Attorney-in-Fact	11/11/2025
	** 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.