Travel & Leisure director granted 402 stock units

Travel & Leisure Co. director George Herrera reported an equity-based compensation grant.

Rhea-AI Filing Summary

Travel & Leisure Co. director George Herrera reported an equity-based compensation grant. On March 31, 2026, he acquired 402 deferred stock units of common stock at a stated price of $0.00 per unit, issued as dividends. Each unit converts into one common share after his retirement or termination of Board service. Following this grant, one line in the filing shows Herrera holding 46,735 deferred stock units, and a separate line shows 1,853 previously reported shares of common stock held directly.

Insider Trade Summary

Grant/Award: 402 shares

Grant/Award 2 txns

Insider HERRERA GEORGE

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	402	$0.00	$0.00
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 48,588 shares (Direct)

Footnotes (3)

1. F1. Deferred stock units issued for dividends. Each deferred stock unit entitles the reporting person to receive one share of common stock following the reporting person's retirement or termination of service from the Board of Directors.
2. F2. Includes previously reported deferred stock units.
3. F3. Previously reported shares of common stock.

Key Figures

Deferred stock units granted: 402 units Deferred stock units after grant: 46,735 units Common shares held directly: 1,853 shares +1 more

4 metrics

Deferred stock units granted 402 units Dividend-related grant on March 31, 2026

Deferred stock units after grant 46,735 units Total deferred stock units following transaction

Common shares held directly 1,853 shares Previously reported common stock holding

Grant price per unit $0.00 per unit Deferred stock units issued as dividends

Key Terms

Deferred stock units, dividends, Board of Directors

3 terms

Deferred stock units financial

"Deferred stock units issued for dividends. Each deferred stock unit entitles the reporting person to receive one share of common stock"

Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.

dividends financial

"Deferred stock units issued for dividends. Each deferred stock unit entitles the reporting person"

Dividends are cash payments a company gives to its shareholders from profits or cash reserves, effectively sharing part of its earnings with owners. They matter to investors because they provide a steady income stream, act like an interest or rent payment on owning the stock, and signal management’s confidence in the business—factors that influence total return and share price. Regular or special dividends can change an investor’s income and reinvestment strategy.

Board of Directors financial

"following the reporting person's retirement or termination of service from the Board of Directors"

The Board of Directors is a group of people chosen by a company's owners to help make big decisions and oversee how the company is run. They act like a team of advisors or managers, making sure the company stays on track and meets its goals. Their choices can influence the company's success and how it grows.

FAQ

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

What insider transaction did TNL director George Herrera report?

George Herrera reported receiving 402 deferred stock units of Travel & Leisure Co. common stock. These units were issued as dividends and represent additional equity compensation that will convert into common shares after he leaves the Board of Directors.

How many Travel & Leisure Co. deferred stock units does George Herrera hold after this filing?

One entry shows George Herrera holding 46,735 deferred stock units after the March 31, 2026 grant. These units reflect both the new 402-unit dividend grant and previously reported deferred stock units accumulated over his Board service.

What are deferred stock units in the TNL Form 4 for George Herrera?

Deferred stock units are equity awards that track Travel & Leisure Co. common stock. Each unit entitles George Herrera to receive one share of common stock after he retires or terminates service from the Board of Directors, aligning compensation with long-term shareholder value.

Did George Herrera buy or sell Travel & Leisure Co. shares in the open market?

The filing shows a grant-type acquisition of 402 deferred stock units at a price of $0.00 per unit, not an open-market purchase or sale. It represents equity compensation rather than a discretionary market trade in Travel & Leisure Co. shares.

How many Travel & Leisure Co. common shares does George Herrera directly hold?

A separate holding line in the Form 4 shows George Herrera with 1,853 previously reported shares of Travel & Leisure Co. common stock held directly. This is distinct from his deferred stock units, which convert into shares only after his Board service ends.

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

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Accepted by SEC EDGAR 04/02/2026 - 09:37 PM EDT Learn about SEC filing dates

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^*

HERRERA GEORGE

(Last) (First) (Middle)

C/O TRAVEL + LEISURE CO.

501 WEST CHURCH STREET

(Street)

ORLANDO FLORIDA 32805

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	03/31/2026		A		402(1)	A	$0	46,735(2)	D
Common Stock								1,853(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. Deferred stock units issued for dividends. Each deferred stock unit entitles the reporting person to receive one share of common stock following the reporting person's retirement or termination of service from the Board of Directors.

2. Includes previously reported deferred stock units.

3. Previously reported shares of common stock.

Remarks:

	/s/ Jeff J. Zanotti as Attorney-in-Fact for George Herrera	04/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)