Park Hotels & Resorts Inc.'s SEC filings document formal disclosures for a lodging REIT that owns premium-branded hotels and resorts. Recent Form 8-K reports furnish quarterly and annual operating results, supplemental portfolio information, RevPAR and hotel performance data, non-core disposition updates, and Regulation FD presentations describing portfolio changes.
The filing record also covers annual meeting results, definitive proxy materials, director elections, executive compensation, stockholder voting matters, and officer appointments. Capital-structure disclosures include a second amended and restated credit agreement involving Park Intermediate Holdings LLC, with senior unsecured revolving and term loan facilities, alongside related debt and refinancing information.
Thomas A. Natelli, a director of Park Hotels & Resorts Inc. (PK), received 2,271 shares of the issuer's unrestricted common stock on 09/23/2025 in lieu of cash board fees under the 2017 Stock Plan for Non-Employee Directors. The shares vested immediately and were issued at $0 as a fee award based on the closing NYSE price on the grant date. After the award, the reporting person beneficially owned 207,778 shares in total, including multiple indirect holdings through trusts, a limited partnership and an LLC.
Patricia M. Bedient, a director of Park Hotels & Resorts Inc. (PK), received 2,488 shares of the issuer's unrestricted common stock as payment in lieu of cash board fees under the Park Hotels & Resorts Inc. 2017 Stock Plan for Non-Employee Directors. The shares were granted on the company's reported grant date and vested immediately. The grant was recorded at a $0 per-share cash price to the reporting person because it was an equity award in lieu of cash; the notice states the award's market value was based on the NYSE closing price on the grant date. After the transaction, the reporting person beneficially owned 136,703 shares. The Form 4 indicates the report was submitted by an attorney-in-fact.
Park Hotels & Resorts Inc. (PK) director Kelly B. Christie received 2,596 shares of unrestricted common stock on September 23, 2025, elected in lieu of cash board fees under the 2017 Stock Plan for Non-Employee Directors. The shares were granted five business days before the fees would have been payable and vested immediately. After the award, Ms. Christie beneficially owned 144,723 shares. The grant value was based on the NYSE closing price on the grant date. The Form 4 was signed by an attorney-in-fact on September 24, 2025.
Park Hotels & Resorts Inc. entered into a Second Amended and Restated Credit Agreement providing a $1 billion senior unsecured revolving credit facility, an existing $200 million 2024 term loan and a new senior unsecured delayed draw term loan facility of up to $800 million. The delayed draw term loan may be drawn in up to three tranches from September 17, 2025 to the first anniversary of that date and is expected to be used to refinance other outstanding debt. The revolving facility matures on September 17, 2029, while the 2025 term facility matures on January 2, 2030, each with extension options subject to conditions and fees. Pricing is tied to a leverage ratio, with interest based on a base rate or SOFR plus a margin, and includes commitment and ticking fees on unused amounts. The agreement adds up to $1 billion of incremental facility capacity, letter of credit availability and customary financial covenants and guarantees.
Donald Smith & Co., Inc. and its affiliate DSCO Value Fund, L.P. reported beneficial ownership of 12,044,177 shares of Park Hotels & Resorts Inc. common stock, representing 6.03% of the class. Donald Smith & Co., Inc. holds 11,935,506 shares with sole voting and dispositive power and DSCO Value Fund holds 108,671 shares.
The filing clarifies that the advisory clients, not Donald Smith & Co., Inc., ultimately have the right to receive dividends or proceeds from sales and that the securities were acquired in the ordinary course of business and not to influence control of the issuer.
Bank of America Corporation reported beneficial ownership of 13,475,980 shares of Park Hotels & Resorts common stock, representing 6.7% of the class. The filing shows no sole voting or dispositive power; instead, the holder reports shared voting power of 13,400,496 shares and shared dispositive power of 13,475,980 shares. The statement is filed on behalf of Bank of America and several wholly owned subsidiaries, which are identified in the filing.
This disclosure is a routine regulatory ownership report showing a material, non-controlling stake: the holder certifies the shares are held in the ordinary course of business and not to influence control of the issuer.
Timothy J. Naughton, Director of Park Hotels & Resorts, reported acquiring 2,484 shares of unrestricted common stock on June 23, 2025. This transaction was made under the company's 2017 Stock Plan for Non-Employee Directors, where Naughton elected to receive stock in lieu of cash fees for his Q2 2025 board service.
Key transaction details:
- Shares were granted at $0 cost and vested immediately
- The stock value was based on NYSE closing price on grant date
- Following the transaction, Naughton directly owns 138,422 shares
- Transaction was filed via Form 4 on June 28, 2025
This insider transaction represents standard board compensation practice where directors can choose to receive equity instead of cash compensation, demonstrating alignment with shareholder interests.