Travel & Leisure CFO sells 4,150 shares after exercise
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
Michael Dean Brown, director and President & Chief Financial Officer of Travel & Leisure Co. (TNL), exercised stock options to acquire 4,150 common shares at $44.38 per share and sold 4,150 shares at a weighted average of $79.24 on August 5, 2026 under a Rule 10b5-1 plan adopted November 25, 2025. Following the option exercise, he continues to hold 20,176 stock options expiring March 7, 2029.
Insider Trade Summary 10b5-1
Exercise and Sale: 4,150 shares ($145K approx. pre-tax spread)
Exercise and Sale
3 txns
Insider
Brown Michael Dean
Role
See Remarks
Sold
4,150 shs ($329K)
Approx. gross sale proceeds
$329K
Approx. exercise cost
$184K
Approx. pre-tax spread
$145K
Share of Position Sold
0.84%
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Options (right to buy) F1, F5 | 4,150 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 4,150 | $44.38 | $184K |
| Sale | Common Stock F1, F3, F2 | 4,150 | $79.24 | $329K |
| Holding | Common Stock F4 | -- | -- | -- |
Holdings After Transaction:
Stock Options (right to buy) — 20,176 contracts (Direct);
Common Stock — 775,437 shares (Direct)
Holdings Before and After:
Stock Options (right to buy), 24,326 to 20,176 contracts (Direct);
Common Stock, 775,437 to 775,437 shares (Direct)
Other Insiders: 4 other insiders reported open-market sales of this stock in the 30 days up to this filing.
Footnotes (5)
- F1. Option exercise and sale effectuated pursuant to a Rule 10b5-1 plan adopted November 25, 2025.
- F2. Previously reported shares of common stock.
- F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $79.00 to 79.490, inclusive. The reporting person undertakes to provide to Travel + Leisure Co., any security holder of Travel + Leisure Co. or the staff of the Securities and Exchange Commission, upon request full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F4. Previously reported restricted stock units.
- F5. Stock options granted on March 7, 2019, under the Registrant's Equity and Incentive Plan. The options vested in four equal installments on each of the first four anniversaries of March 7, 2019.
Key Figures
Options Exercised: 4150.0000 shares
Exercise Price: $44.3800 per share
Shares Sold: 4150.0000 shares
+4 more
7 metrics
Options Exercised
4150.0000 shares
Stock options exercised into common stock on 2026-08-05
Exercise Price
$44.3800 per share
Conversion or exercise price of stock options exercised
Shares Sold
4150.0000 shares
Common stock sold on 2026-08-05 following option exercise
Weighted Average Sale Price
$79.2400 per share
Weighted average for sales ranging from $79.00 to $79.490
Remaining Stock Options
20176.0000 options
Total stock options held after the reported exercise
Option Expiration Date
2029-03-07
Expiration of stock options granted March 7, 2019
Rule 10b5-1 Plan Adoption Date
November 25, 2025
Plan governing the option exercise and share sale
Key Terms
Rule 10b5-1 plan, weighted average price, restricted stock units, Equity and Incentive Plan, +1 more
5 terms
Rule 10b5-1 plan regulatory
"Option exercise and sale effectuated pursuant to a Rule 10b5-1 plan adopted November 25, 2025."
A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
restricted stock units financial
"Previously reported restricted stock units."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Equity and Incentive Plan financial
"Stock options granted on March 7, 2019, under the Registrant's Equity and Incentive Plan."
stock options financial
"Stock options granted on March 7, 2019, under the Registrant's Equity and Incentive Plan."
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What transactions did TNL insider Michael Dean Brown report on this Form 4?
Michael Dean Brown reported exercising stock options for 4,150 shares of Travel & Leisure Co. (TNL) at $44.38 per share and selling 4,150 common shares at a weighted average price of $79.24 on August 5, 2026.
How many TNL stock options does Michael Dean Brown retain after these transactions?
After exercising options for 4,150 shares, Michael Dean Brown continues to hold 20,176 Travel & Leisure stock options. These options were granted on March 7, 2019 and are scheduled to expire on March 7, 2029 under the company’s Equity and Incentive Plan.
What role does Michael Dean Brown hold at Travel & Leisure Co. (TNL)?
Michael Dean Brown is identified as a director and serves as President & Chief Financial Officer of Travel & Leisure Co. This senior executive position means his equity transactions are closely monitored and disclosed through Form 4 filings.
AI-generated analysis. How Rhea-AI works. Not financial advice.
