Travel & Leisure Co. (TNL) director updates holdings with new deferred units

Rhea-AI Filing Summary

Travel & Leisure Co. director James E. Buckman reported a routine change in his holdings of company stock-based awards. On 12/31/2025, he acquired 1,039 deferred stock units at a price of $0, representing stock units issued for dividends. Each deferred stock unit entitles him to receive one share of common stock after his retirement or termination of service from the Board of Directors.

Following this transaction, Buckman beneficially owned 128,474 deferred stock units, which include previously reported deferred stock units. He also held 1,955 restricted stock units and 6,998 shares of common stock, which were previously reported. The filing notes that it was submitted as a Form filed by one reporting person, in his capacity as a director of Travel & Leisure Co.

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^*

BUCKMAN JAMES E

(Last) (First) (Middle)

C/O TRAVEL + LEISURE CO.

6277 SEA HARBOR DRIVE

(Street)

ORLANDO FL 32821

(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)
12/31/2025

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	12/31/2025		A		1,039(1)	A	$0	128,474(2)	D
Common Stock								1,955(3)	D
Common Stock								6,998(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. Includes previously reported deferred stock units.

3. Previously reported restricted stock units.

4. Includes previously reported shares of common stock.

Remarks:

	Jeff J. Zanotti as Attorney-in-Fact for James E. Buckman	01/05/2026
	** 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 12/31/2025?

On 12/31/2025, director James E. Buckman acquired 1,039 deferred stock units of Travel & Leisure Co. common stock at a price of $0, issued as dividend-equivalent deferred stock units.

Who is the reporting person in this Travel & Leisure Co. (TNL) insider filing?

The reporting person is James E. Buckman, who is identified as a Director of Travel & Leisure Co. The form is filed by one reporting person, and the signature is provided by Jeff J. Zanotti as Attorney-in-Fact for Buckman.

How many Travel & Leisure Co. deferred stock units does James E. Buckman own after this transaction?

After the reported transaction, James E. Buckman beneficially owned 128,474 deferred stock units of Travel & Leisure Co., which the notes state include previously reported deferred stock units.

How do the deferred stock units for Travel & Leisure Co. (TNL) work in this filing?

The filing explains that the deferred stock units were issued for dividends and that each deferred stock unit entitles the reporting person to receive one share of common stock following his retirement or termination of service from the Board of Directors.

What other Travel & Leisure Co. equity awards does James E. Buckman hold?

In addition to deferred stock units, the filing shows that 1,955 restricted stock units and 6,998 shares of common stock are beneficially owned by James E. Buckman, and these amounts were previously reported.

Is the Travel & Leisure Co. (TNL) filing for an individual or a group of insiders?

The form indicates that it is a Form filed by One Reporting Person, meaning it reports transactions only for James E. Buckman and not for more than one reporting person.