Park Hotels Board Member Shows Confidence by Choosing Stock Over Cash Pay

Rhea-AI Filing Summary

Park Hotels & Resorts Director Stephen I. Sadove received 3,513 shares of unrestricted common stock on June 23, 2025, as compensation for Q2 2025 board service in lieu of cash fees. The shares were granted under the company's 2017 Stock Plan for Non-Employee Directors and vested immediately upon issuance.

Following the transaction, Sadove's beneficial ownership consists of:

• 87,832 shares held directly
• 20,000 shares held indirectly through the Sadove Family Delaware Dynasty Trust
• 23,816 shares held indirectly through the Stephen I. Sadove Revocable Trust

The stock award was valued based on the NYSE closing price on the grant date. The transaction was reported via Form 4 filing on June 25, 2025, within the required reporting timeline.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider SADOVE STEPHEN I

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	3,513	$0.00	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 87,832 shares (Direct); Common Stock — 20,000 shares (Indirect, By Family Trust)

Footnotes (1)

1. The reporting person has elected to receive an award of shares of the issuer's unrestricted common stock ("Common Stock") under the Park Hotels & Resorts Inc. 2017 Stock Plan for Non-Employee Directors, as amended and restated, in lieu of cash fees payable to the reporting person for service on the issuer's board of directors during the 2nd quarter of 2025 ("Board Fee"). The Common Stock was granted on the fifth business day prior to the date that such fees would otherwise have been payable, June 23, 2025, and vested immediately. The Common Stock had a market value based on the closing sales price of the issuer's common stock reported on the New York Stock Exchange on the grant date. Shares are held by the Sadove Family Delaware Dynasty Trust, of which the reporting person has a pecuniary interest. Shares are held by the Stephen I. Sadove Revocable Trust, of which the reporting person serves as the trustee.

Form 4 Insider Transactions: What Each Field Means →

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^*

SADOVE STEPHEN I

(Last) (First) (Middle)

C/O PARK HOTELS & RESORTS INC.

1775 TYSONS BLVD, 7TH FLOOR

(Street)

TYSONS VA 22102

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Park Hotels & Resorts Inc. [ PK ]

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)
06/23/2025

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	06/23/2025		A(1)		3,513	A	$0	87,832	D
Common Stock								20,000	I	By Family Trust(2)
Common Stock								23,816	I	By Trust(3)

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. The reporting person has elected to receive an award of shares of the issuer's unrestricted common stock ("Common Stock") under the Park Hotels & Resorts Inc. 2017 Stock Plan for Non-Employee Directors, as amended and restated, in lieu of cash fees payable to the reporting person for service on the issuer's board of directors during the 2nd quarter of 2025 ("Board Fee"). The Common Stock was granted on the fifth business day prior to the date that such fees would otherwise have been payable, June 23, 2025, and vested immediately. The Common Stock had a market value based on the closing sales price of the issuer's common stock reported on the New York Stock Exchange on the grant date.

2. Shares are held by the Sadove Family Delaware Dynasty Trust, of which the reporting person has a pecuniary interest.

3. Shares are held by the Stephen I. Sadove Revocable Trust, of which the reporting person serves as the trustee.

Remarks:

	/s/ Nancy Vu, as Attorney-in-Fact	06/25/2025
	** 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

How many PK shares did Stephen Sadove acquire on June 23, 2025?

Stephen Sadove acquired 3,513 shares of PK common stock on June 23, 2025 as part of his board of directors compensation for Q2 2025.

What is the total number of PK shares Stephen Sadove owns after the June 2025 transaction?

Following the transaction, Stephen Sadove beneficially owns a total of 131,648 PK shares, consisting of 87,832 shares held directly, 20,000 shares held in the Sadove Family Delaware Dynasty Trust, and 23,816 shares held in the Stephen I. Sadove Revocable Trust.

Why did PK director Stephen Sadove receive shares instead of cash compensation?

Sadove elected to receive shares of unrestricted common stock under the Park Hotels & Resorts Inc. 2017 Stock Plan for Non-Employee Directors instead of cash fees for his Q2 2025 board service. The shares were granted on June 23, 2025 and vested immediately.

What was the purchase price of PK shares acquired by Stephen Sadove in June 2025?

The shares were granted at $0 cost to Sadove, as they were issued in lieu of cash compensation. The shares' value was based on PK's closing stock price on the NYSE on the grant date (June 23, 2025).