Travel & Leisure director receives stock grant

MARTINEZ LUCINDA reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

MARTINEZ LUCINDA reported acquisition or exercise transactions in this Form 4 filing.

Travel & Leisure Co. director Lucinda Martinez received a grant of 40 shares of common stock on March 31, 2026, at a stated price of $0.00 per share as a stock award. After this grant, one reported direct holding line shows 3,047 shares of common stock.

The filing also lists additional direct common stock holdings of 22,946 shares and 741 shares as of the same date, which include previously reported common stock, deferred stock units issued for dividends, and restricted stock units tied to her Board of Directors service.

Insider Trade Summary

Grant/Award: 40 shares

Grant/Award 3 txns

Insider MARTINEZ LUCINDA

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	40	$0.00	$0.00
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 26,734 shares (Direct)

Footnotes (4)

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. Previously reported deferred stock units.
3. F3. Includes previously reported common stock.
4. F4. Previously reported shares of restricted stock units.

Key Figures

Stock grant: 40 shares Direct holding after grant: 3,047 shares Additional direct holding line: 22,946 shares +3 more

6 metrics

Stock grant 40 shares Common Stock grant on March 31, 2026

Direct holding after grant 3,047 shares Common Stock, total shares following 40-share award

Additional direct holding line 22,946 shares Common Stock holding entry as of March 31, 2026

Additional direct holding line 741 shares Common Stock holding entry as of March 31, 2026

Grant price per share $0.00 per share Common Stock award to director on March 31, 2026

Acquisition transactions 1 transaction Grant, award, or other acquisition of Common Stock

Key Terms

Deferred stock units, restricted stock units, Board of Directors, Grant, award, or other acquisition

4 terms

Deferred stock units financial

"Deferred stock units issued for dividends."

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.

restricted stock units financial

"Previously reported shares of 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.

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.

Grant, award, or other acquisition financial

"transaction_code_description": "Grant, award, or other acquisition""

FAQ

What insider transaction did Travel & Leisure Co. (TNL) report for Lucinda Martinez?

Travel & Leisure Co. reported that director Lucinda Martinez received a grant of 40 shares of common stock on March 31, 2026. The shares were awarded at a stated price of $0.00 per share as a stock-based grant, not a market purchase.

How many Travel & Leisure Co. (TNL) shares does Lucinda Martinez hold after this grant?

After the 40-share grant, one reported direct holding line for Lucinda Martinez shows 3,047 shares of common stock. The filing also lists additional direct holdings of 22,946 shares and 741 shares, reflecting previously reported stock and equity-based awards.

Was the Travel & Leisure Co. (TNL) transaction an open-market stock purchase?

No, the transaction was not an open-market purchase. It was a grant or award of 40 shares of common stock at a stated price of $0.00 per share, consistent with stock-based compensation or equity awards granted to a board member.

What do the deferred stock unit footnotes mean in the TNL Form 4?

The footnotes explain that certain positions are deferred stock units issued for dividends. Each unit entitles Lucinda Martinez to receive one share of common stock after she retires or leaves the Board, and some lines include previously reported deferred and restricted stock units.

Did Lucinda Martinez sell any Travel & Leisure Co. (TNL) shares in this filing?

The filing does not show any reported sales of Travel & Leisure Co. common stock by Lucinda Martinez. It reflects one acquisition of 40 shares via a grant, along with updated holdings, and shows no transactions coded as open-market dispositions.

What is the significance of the unknown-code holding entries in the TNL Form 4?

Two entries are classified as holding records with unknown transaction codes, showing 22,946 and 741 shares following the reported date. These lines reflect previously reported common stock, deferred stock units, and restricted stock units rather than new buy or sell transactions.

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Accepted by SEC EDGAR 04/02/2026 - 09:38 PM 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^*

MARTINEZ LUCINDA

(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		40(1)	A	$0	3,047(2)	D
Common Stock								22,946(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 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. Previously reported deferred stock units.

3. Includes previously reported common stock.

4. Previously reported shares of restricted stock units.

Remarks:

	/s/ Jeff J. Zanotti as Attorney-in-Fact for Lucinda Martinez	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)