[Form 4] Travel & Leisure Co. Insider Trading Activity
Michael H. Wargotz, a director of Travel & Leisure Co. (TNL), received 1,197 deferred stock units issued as dividends. Each deferred stock unit converts to one share of common stock upon the director's retirement or termination of board service, and these units were recorded with a $0 price. The reported transactions also show dispositions of 722 previously reported common shares and 1,955 previously reported restricted stock units. After these changes, the reporting person’s total beneficial ownership is 128,283 shares (including prior deferred stock units). The filing identifies the transactions as routine equity compensation and previously reported holdings rather than new cash purchases or sales at a market price.
Michael H. Wargotz, un direttore di Travel & Leisure Co. (TNL), ha ricevuto 1.197 unità azionarie differite emesse come dividendi. Ogni unità azionaria differita si converte in una quota di azioni ordinarie al momento della pensione o cessazione della carica di direttore, e tali unità sono state registrate con un prezzo di $0. Le transazioni riportate mostrano anche disposizioni di 722 azioni comuni precedentemente riportate e 1.955 unità azionarie limitate previamente riportate. Dopo tali cambiamenti, la proprietà beneficiaria totale della persona indicata è di 128.283 azioni (comprese le unità azionarie differite precedenti). La dichiarazione identifica le transazioni come compensazione azionaria di routine e partecipazioni previamente riportate piuttosto che nuovi acquisti o vendite in contanti al prezzo di mercato.
Michael H. Wargotz, director de Travel & Leisure Co. (TNL), recibió 1.197 unidades de acciones diferidas emitidas como dividendos. Cada unidad de acciones diferidas se convierte en una acción común al momento de la jubilación o terminación del servicio en la junta, y estas unidades se registraron con un precio de $0. Las transacciones reportadas también muestran disposiciones de 722 acciones comunes previamente reportadas y 1.955 unidades de acciones restringidas previamente reportadas. Después de estos cambios, la propiedad total beneficiosa de la persona reportada es de 128.283 acciones (incluidas las unidades diferidas anteriores). La presentación identifica las transacciones como compensación de capital de rutina y participaciones previamente declaradas en lugar de nuevas compras o ventas en efectivo a un precio de mercado.
Michael H. Wargotz, Travel & Leisure Co. (TNL)의 이사인 경우, 배당으로 발행된 1,197개의 보류 주식 단위를 받았습니다. 각 보류 주식 단위는 이사 은퇴 또는 이사회 서비스 종료 시 일반 주식 1주로 전환되며, 이 단위는 주당가를 0달러로 기록했습니다. 보고된 거래는 또한 이전에 보고된 일반 주식 722주의 처분과 이전에 보고된 제한 주식 단위 1,955주의 처분을 보여줍니다. 이러한 변경 후 보고자의 총 지분은 128,283주(이전에 보류 주식 단위를 포함)입니다. 제출서는 거래를 일상적 주식 보상 및 이전에 보고된 보유로 식별하며 새로운 현금 매수나 시장 가격으로의 매매가 아님을 명시합니다.
Michael H. Wargotz, administrateur de Travel & Leisure Co. (TNL), a reçu 1 197 unités d’actions différées émises en tant que dividendes. Chaque unité d’actions différées se convertit en une action ordinaire au moment de la retraite de l’administrateur ou de la cessation de mandat au conseil, et ces unités ont été enregistrées avec un prix de 0 $. Les transactions rapportées montrent également des cessions de 722 actions ordinaires préalablement reportées et 1 955 unités d’actions restreintes préalablement reportées. Après ces changements, la propriété bénéficiaire totale de la personne déclarée est de 128 283 actions (y compris les unités d’actions différées antérieures). Le dossier identifie les transactions comme une compensation en actions de routine et des participations préalablement déclarées plutôt que de nouveaux achats ou ventes en espèces à un prix de marché.
Michael H. Wargotz, ein Direktor von Travel & Leisure Co. (TNL), erhielt 1.197 deferred stock units, die als Dividenden ausgegeben wurden. Jede Deferred Stock Unit wandelt sich bei der Pensionierung des Direktors oder dem Ausscheiden aus dem Vorstand in eine Aktie des Stammkapitals um, und diese Einheiten wurden mit einem Preis von 0 $ verbucht. Die gemeldeten Transaktionen zeigen außerdem Veräußerungen von 722 zuvor gemeldeten Stammaktien und 1.955 zuvor gemeldeten eingeschränkten Aktieneinheiten. Nach diesen Änderungen beläuft sich der insgesamt beherrschende Besitz der meldenden Person auf 128.283 Aktien (einschließlich vorheriger Deferred Stock Units). Die Einreichung kennzeichnet die Transaktionen als routinemäßige Eigenkapitalvergütung und zuvor gemeldete Bestände, statt neue Barankäufe oder -verkäufe zum Marktpreis.
مايكل هـ. وارغوتز، مدير في Travel & Leisure Co. (TNL)، تلقّى 1,197 وحدة أسهم مؤجلة صدرت كأرباح. تتحول كل وحدة أسهم مؤجلة إلى سهم عادي واحد عند تقاعد المدير أو انتهاء خدمته في المجلس، وتم تسجيل هذه الوحدات بسعر 0 دولار. كما تُظهر المعاملات المبلّغ عنها تصرّفات لـ 722 سهماً عادياً سبق الإبلاغ عنها و 1,955 وحدة أسهم مقيدة سبق الإبلاغ عنها. بعد هذه التغييرات، يصبح إجمالي الملكية المستفيدة للشخص المبلغ عنه 128,283 سهماً (بما في ذلك وحدات الأسهم المؤجلة السابقة). تحدد البلاغة أن هذه المعاملات هي تعويض حقوق ملكية روتينية وبيانات الحيازات السابقة بدلاً من عمليات شراء أو بيع نقداً جديدة بسعر السوق.
迈克尔·H·沃戈茨（Michael H. Wargotz），Travel & Leisure Co.（TNL）的董事，收到1,197份递延股票单位，作为股息发行。 每单位递延股票单位在董事退休或终止董事会服务时将转换为1股普通股，且这些单位记为0美元。所报告的交易还显示对< b >722份此前已报告的普通股的处置以及< b >1,955份此前已报告的限制性股票单位的处置。变动之后，报告人总的实际控制权为128,283股（包括此前的递延股票单位）。该备案将交易认定为日常股本补偿以及先前已报告的持股，而非按市场价格进行的新现金买卖。
- 1,197 deferred stock units issued as dividend equivalents maintain director alignment with shareholder interests
- Total beneficial ownership of 128,283 shares indicates a meaningful ongoing stake by the director
- Deferred stock units convert to one share each upon retirement/termination, aligning long-term incentives
- Dispositions of 722 common shares and 1,955 restricted stock units reduced previously reported direct/indirect holdings
Insights
TL;DR: Director equity activity reflects routine compensation through deferred stock units and small disposals, with total beneficial ownership remaining sizeable.
The 1,197 deferred stock units issued for dividends are a non-cash compensation mechanism that will convert to common shares upon the director's departure from the board, and they were recorded at a $0 issuance price which is typical for dividend-equivalent units. The reported disposals—722 common shares and 1,955 restricted stock units—are described as previously reported holdings, indicating these were adjustments to reported positions rather than open-market trades. The resulting beneficial ownership of 128,283 shares signals continued meaningful insider alignment with shareholders, but the filing shows no new market purchases or sales that would materially change outstanding share counts or liquidity.
TL;DR: Activity appears procedural and compensation-related, not a governance red flag; beneficial ownership remains substantial.
The issuance of deferred stock units for dividends is a standard board remuneration practice that defers share delivery until termination or retirement, preserving alignment incentives. The form explicitly labels the 722 and 1,955 share entries as previously reported common shares and restricted stock units, suggesting reporting consolidations or adjustments rather than opportunistic insider selling. From a governance perspective, there is no indication of unexpected departures, extraordinary transactions, or related-party issues in the disclosure provided.
Michael H. Wargotz, un direttore di Travel & Leisure Co. (TNL), ha ricevuto 1.197 unità azionarie differite emesse come dividendi. Ogni unità azionaria differita si converte in una quota di azioni ordinarie al momento della pensione o cessazione della carica di direttore, e tali unità sono state registrate con un prezzo di $0. Le transazioni riportate mostrano anche disposizioni di 722 azioni comuni precedentemente riportate e 1.955 unità azionarie limitate previamente riportate. Dopo tali cambiamenti, la proprietà beneficiaria totale della persona indicata è di 128.283 azioni (comprese le unità azionarie differite precedenti). La dichiarazione identifica le transazioni come compensazione azionaria di routine e partecipazioni previamente riportate piuttosto che nuovi acquisti o vendite in contanti al prezzo di mercato.
Michael H. Wargotz, director de Travel & Leisure Co. (TNL), recibió 1.197 unidades de acciones diferidas emitidas como dividendos. Cada unidad de acciones diferidas se convierte en una acción común al momento de la jubilación o terminación del servicio en la junta, y estas unidades se registraron con un precio de $0. Las transacciones reportadas también muestran disposiciones de 722 acciones comunes previamente reportadas y 1.955 unidades de acciones restringidas previamente reportadas. Después de estos cambios, la propiedad total beneficiosa de la persona reportada es de 128.283 acciones (incluidas las unidades diferidas anteriores). La presentación identifica las transacciones como compensación de capital de rutina y participaciones previamente declaradas en lugar de nuevas compras o ventas en efectivo a un precio de mercado.
Michael H. Wargotz, Travel & Leisure Co. (TNL)의 이사인 경우, 배당으로 발행된 1,197개의 보류 주식 단위를 받았습니다. 각 보류 주식 단위는 이사 은퇴 또는 이사회 서비스 종료 시 일반 주식 1주로 전환되며, 이 단위는 주당가를 0달러로 기록했습니다. 보고된 거래는 또한 이전에 보고된 일반 주식 722주의 처분과 이전에 보고된 제한 주식 단위 1,955주의 처분을 보여줍니다. 이러한 변경 후 보고자의 총 지분은 128,283주(이전에 보류 주식 단위를 포함)입니다. 제출서는 거래를 일상적 주식 보상 및 이전에 보고된 보유로 식별하며 새로운 현금 매수나 시장 가격으로의 매매가 아님을 명시합니다.
Michael H. Wargotz, administrateur de Travel & Leisure Co. (TNL), a reçu 1 197 unités d’actions différées émises en tant que dividendes. Chaque unité d’actions différées se convertit en une action ordinaire au moment de la retraite de l’administrateur ou de la cessation de mandat au conseil, et ces unités ont été enregistrées avec un prix de 0 $. Les transactions rapportées montrent également des cessions de 722 actions ordinaires préalablement reportées et 1 955 unités d’actions restreintes préalablement reportées. Après ces changements, la propriété bénéficiaire totale de la personne déclarée est de 128 283 actions (y compris les unités d’actions différées antérieures). Le dossier identifie les transactions comme une compensation en actions de routine et des participations préalablement déclarées plutôt que de nouveaux achats ou ventes en espèces à un prix de marché.
Michael H. Wargotz, ein Direktor von Travel & Leisure Co. (TNL), erhielt 1.197 deferred stock units, die als Dividenden ausgegeben wurden. Jede Deferred Stock Unit wandelt sich bei der Pensionierung des Direktors oder dem Ausscheiden aus dem Vorstand in eine Aktie des Stammkapitals um, und diese Einheiten wurden mit einem Preis von 0 $ verbucht. Die gemeldeten Transaktionen zeigen außerdem Veräußerungen von 722 zuvor gemeldeten Stammaktien und 1.955 zuvor gemeldeten eingeschränkten Aktieneinheiten. Nach diesen Änderungen beläuft sich der insgesamt beherrschende Besitz der meldenden Person auf 128.283 Aktien (einschließlich vorheriger Deferred Stock Units). Die Einreichung kennzeichnet die Transaktionen als routinemäßige Eigenkapitalvergütung und zuvor gemeldete Bestände, statt neue Barankäufe oder -verkäufe zum Marktpreis.
FAQ
What change in TNL insider holdings did Michael H. Wargotz report?
What are the deferred stock units reported by the TNL director?
Was there any cash purchase or sale price reported for the issued deferred stock units?
Do the reported disposals indicate open-market sales by the director?
Does this Form 4 filing show a change in control or governance issues at TNL?
