Travel & Leisure (NYSE: TNL) director receives 4,125 deferred stock units

Rhea-AI Filing Summary

Travel & Leisure Co. director Stephen P. Holmes received a grant of 4,125 deferred stock units of common stock as part of retainer fees and an annual equity grant. These units carry no cash exercise price and convert into one share each after he retires or leaves the Board.

Following this award, Holmes directly holds 53,717 deferred stock units, 346,947 previously reported shares of common stock, and 741 previously reported restricted stock units. The filing reflects routine, compensation-related equity grants rather than open-market buying or selling.

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
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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^*

HOLMES STEPHEN P

(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)

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

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		4,125(1)	A	$0	53,717(2)	D
Common Stock								346,947(3)	D
Common Stock								741(4)	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 retainer fees and annual equity grant. 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.

4. Previously reported restricted stock units.

Remarks:

	/s/ Jeff J. Zanotti as Attorney-in-Fact for Stephen P. Holmes	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 did Stephen P. Holmes report in this Form 4 for TNL?

Stephen P. Holmes reported receiving 4,125 deferred stock units in Travel & Leisure Co. stock as part of director compensation. These units represent equity awards, not open-market purchases, and will convert into common shares after he retires or leaves the Board.

How many Travel & Leisure Co. deferred stock units does Holmes hold after this grant?

After the 4,125-unit grant, Stephen P. Holmes directly holds 53,717 deferred stock units in Travel & Leisure Co. Each unit is tied to one share of common stock, deliverable after his retirement or termination of service from the Board of Directors.

Are the 4,125 Travel & Leisure Co. units a market purchase or a grant?

The 4,125 Travel & Leisure Co. units are a grant, not a market purchase. They were issued as deferred stock units for retainer fees and an annual equity grant, recorded at a transaction price of zero dollars per share in the Form 4 filing.

When will Holmes receive Travel & Leisure Co. shares from these deferred stock units?

Holmes will receive Travel & Leisure Co. common shares from these deferred stock units after he retires or his Board service ends. Each deferred stock unit converts into one common share at that time, according to the terms described in the Form 4 footnotes.

What other Travel & Leisure Co. equity holdings does Holmes report?

In addition to deferred stock units, Holmes reports 346,947 previously disclosed shares of Travel & Leisure Co. common stock and 741 previously reported restricted stock units. These positions reflect his existing equity stake, separate from the new 4,125-unit deferred stock award.

Does this Travel & Leisure Co. Form 4 show any stock sales by Holmes?

The Form 4 does not show any stock sales by Holmes. It records an acquisition via an equity grant of deferred stock units and restates existing common stock and restricted stock unit holdings, with no reported open-market selling transactions in this filing.