Park Hotels Board Member Chooses Stock Over Cash Pay - Strategic Move?

Rhea-AI Filing Summary

Park Hotels & Resorts Director Christie B. Kelly reported acquiring 2,865 shares of unrestricted common stock on June 23, 2025, as compensation for board service during Q2 2025. The shares were granted under the company's 2017 Stock Plan for Non-Employee Directors and vested immediately upon issuance.

Key details of the transaction:

• Transaction was executed at $0 cost to the director
• Shares were issued in lieu of cash fees for board service
• Share value was based on NYSE closing price on grant date
• Following the transaction, Kelly owns 142,127 shares directly
• Grant occurred 5 business days before regular fee payment date

This Form 4 filing represents standard board compensation practice where directors elect to receive equity instead of cash payments, demonstrating alignment with shareholder interests.

Insider Trade Summary

Net Buyer: 2,865 shares

Net Buy 1 txn

Insider Kelly Christie B.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,865	$0.00	$0.00

Holdings After Transaction: Common Stock — 142,127 shares (Direct)

Footnotes (1)

1. F1. 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.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 06/25/2025 - 04:10 PM Learn about SEC filing dates

FAQ

How many shares of PK stock did Christie B. Kelly acquire on June 23, 2025?

Christie B. Kelly acquired 2,865 shares of PK common stock on June 23, 2025 as part of her board of directors compensation.

What is the total number of PK shares Christie B. Kelly owns after the June 2025 transaction?

Following the reported transaction, Christie B. Kelly beneficially owns 142,127 shares of PK stock directly.

Why did PK director Christie B. Kelly receive shares instead of cash compensation?

Christie B. Kelly 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 her service on the board during Q2 2025.

What was the purchase price for PK shares acquired by Christie B. Kelly?

The shares were granted at $0 cost as compensation, with the number of shares determined based on the closing price of PK stock on the NYSE on the grant date (June 23, 2025).

When did the PK shares granted to Christie B. Kelly vest?

The common stock shares granted to Christie B. Kelly vested immediately upon grant on June 23, 2025.

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^*

Kelly Christie B.

(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)		2,865	A	$0	142,127	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

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.

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.