Travel & Leisure (NYSE: TNL) CAO receives 2,622-share equity award

Rhea-AI Filing Summary

Duncan Thomas Michael reported acquisition or exercise transactions in this Form 4 filing.

Travel & Leisure Co. reported that SVP and Chief Accounting Officer Thomas Michael Duncan received a grant of 2,622 shares of common stock on March 11, 2026 as a compensation-related award. The grant was made at a price of $0.00 per share.

According to the footnotes, these are restricted stock units granted under the company’s Equity and Incentive Plan and will vest in four equal installments on each of the first four anniversaries of March 15, 2026, subject to his continuous employment. After this award, he directly holds a total of 35,707 shares/units tied to the company’s common stock.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Duncan Thomas Michael

Role SVP, Chief Accounting Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,622	$0.00	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 35,707 shares (Direct)

Footnotes (1)

1. Restricted stock units granted on March 11, 2026 under the Registrant's Equity and Incentive Plan. The units vest in four equal installments on each of the first four anniversaries of March 15, 2026, subject to the reporting person's continuous employment. The reporting person will receive one share of common stock for each vested restricted stock unit. Includes previously reported shares of restricted stock units. Previously reported shares of common stock.

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^*

Duncan Thomas Michael

(Last) (First) (Middle)

C/O TRAVEL + LEISURE CO.

501 WEST CHURCH STREET

(Street)

ORLANDO FL 32805

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Travel & Leisure Co. [ TNL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/11/2026

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	03/11/2026		A		2,622(1)	A	$0	35,707(2)	D
Common Stock								25,307(3)	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. Restricted stock units granted on March 11, 2026 under the Registrant's Equity and Incentive Plan. The units vest in four equal installments on each of the first four anniversaries of March 15, 2026, subject to the reporting person's continuous employment. The reporting person will receive one share of common stock for each vested restricted stock unit.

2. Includes previously reported shares of restricted stock units.

3. Previously reported shares of common stock.

Remarks:

	/s/ Jeff J. Zanotti as Attorney-in-Fact for Thomas M. Duncan	03/13/2026
	** 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

What insider transaction did Travel & Leisure Co. (TNL) report for Thomas Michael Duncan?

Travel & Leisure Co. reported that SVP and Chief Accounting Officer Thomas Michael Duncan received a grant of 2,622 shares of common stock on March 11, 2026. This award was made at $0.00 per share as part of his equity compensation.

Is the recent TNL Form 4 transaction a market purchase or a compensation grant?

The Form 4 shows a compensation-related grant, not a market purchase. Duncan acquired 2,622 shares at $0.00 per share as a restricted stock unit award under the company’s Equity and Incentive Plan, rather than buying shares in the open market.

How do the new restricted stock units for TNL’s CAO vest over time?

The restricted stock units granted to TNL’s Chief Accounting Officer vest in four equal installments on the first four anniversaries of March 15, 2026. Vesting is conditioned on his continuous employment, and each vested unit converts into one share of common stock.

How many Travel & Leisure Co. shares does Thomas Michael Duncan hold after this Form 4 transaction?

After the March 11, 2026 grant, Thomas Michael Duncan directly holds 35,707 shares or units tied to Travel & Leisure Co. common stock. This total includes the newly granted restricted stock units and previously reported equity awards and shares.

What plan governs the restricted stock unit grant reported in TNL’s Form 4?

The restricted stock unit grant reported in the Form 4 was made under Travel & Leisure Co.’s Equity and Incentive Plan. The award consists of 2,622 units that will settle in common stock as they vest over four years, subject to continued employment.