Travel & Leisure director proposes $1.27M share sale

The notice gives November 25, 2025, as the Rule 10b5-1 plan adoption or instruction date.

Available on EDGAR 11/10/2026 - 04:21 PM EST Accepted by SEC EDGAR 11/10/2026 - 04:21 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Travel & Leisure Co. (TNL) officer and director Michael Dean Brown reported a proposed sale of 15,943 common shares, with an aggregate market value of $1,272,379.32 and an approximate sale date of November 10, 2026. The notice says he acquired the shares from the issuer through a stock option exercise on November 10, 2026, paying cash. It also lists a November 9, 2026 sale of 4,033 common shares for gross proceeds of $318,697.69 during the preceding three months.

Key Figures

Common shares proposed for sale: 15,943 shares Aggregate market value: $1,272,379.32 Common shares outstanding: 60,254,685 shares +2 more

5 metrics

Common shares proposed for sale 15,943 shares Approximate sale date November 10, 2026

Aggregate market value $1,272,379.32 Proposed sale

Common shares outstanding 60,254,685 shares Number listed in the notice

Common shares sold 4,033 shares Sale listed for November 9, 2026, during the preceding three months

Gross proceeds $318,697.69 Sale listed for November 9, 2026

Key Terms

Rule 10b5-1, Stock Option Exercise, Aggregate Market Value

3 terms

Rule 10b5-1 regulatory

"If Relying on Rule 10b5-1"

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

Stock Option Exercise financial

"Nature of Acquisition Transaction: Stock Option Exercise"

A stock option exercise is the act of using a previously granted right to buy shares of a company's stock at a specific, predetermined price by paying that price and receiving the shares. It matters to investors because exercising changes who owns the shares (which can dilute existing ownership), can trigger taxable events and shift potential gains or losses, and affects voting power and the company’s outstanding share count—like turning a voucher into an actual product that becomes part of circulating supply.

Aggregate Market Value financial

"Aggregate Market Value: $1,272,379.32"

Aggregate market value is the combined price you would pay to buy all outstanding shares of a company or all companies in a group at current market prices — essentially the sum of each stock’s market capitalization. It matters to investors because it shows the overall size and weight of an investment or sector (like the total cost to buy every piece of a puzzle), helps compare scale across companies or markets, and influences index composition and risk exposure.

FAQ

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

How many TNL shares did Michael Dean Brown plan to sell?

The notice lists a proposed sale of 15,943 common shares, with an aggregate market value of $1,272,379.32 and an approximate sale date of November 10, 2026.

What date is listed for the TNL Rule 10b5-1 plan?

The notice gives November 25, 2025, as the plan adoption or instruction date in the field for reliance on Rule 10b5-1.

How many TNL shares had Michael D. Brown sold in the preceding three months?

The notice lists 4,033 common shares sold by Michael D. Brown on November 9, 2026, for gross proceeds of $318,697.69 during the preceding three months.

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

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Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001691300
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Travel & Leisure Co.
SEC File Number	001-32876
Address of Issuer	501 WEST CHURCH STREET ORLANDO FLORIDA 32805
Phone	407-626-5200
Name of Person for Whose Account the Securities are To Be Sold	Brown Michael Dean
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Officer
Relationship to Issuer	Director

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	15943	1272379.32	60254685	11/10/2026	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	11/10/2026	Stock Option Exercise	Issuer			15943	11/10/2026	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Michael D. Brown 501 W. Church Street Orlando FL 32805	Common	11/09/2026	4033	318697.69

144: Remarks and Signature

Remarks
Date of Notice	11/10/2026
Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1	11/25/2025
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	/s/ Jared Cook, as a duly authorized representative of Fidelity Brokerage Services LLC, as attorney-in-fact for Michael D. Brown
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)