Travel & Leisure (NYSE: TNL) CTO granted 12,587 restricted stock units

Rhea-AI Filing Summary

Travel & Leisure Co. Chief Technology Officer SY Esfahani received a grant of 12,587 restricted stock units of common stock on March 11, 2026 as equity compensation. The units were granted at no cash cost.

According to the terms, the restricted stock units vest in four equal installments on each of the first four anniversaries of March 15, 2026, as long as employment continues. Each vested unit will convert into one share of common stock. Following this grant and including previously reported awards and shares, Esfahani directly holds 49,598 shares and restricted stock units in total.

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

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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^*

ESFAHANI SY

(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)

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

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		12,587(1)	A	$0	31,419(2)	D
Common Stock								49,598(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. Restricted stock units granted on March 11, 2026 under the Registrant's Equity and Incentive Plan. The units vest in four equal installments on each of the first four anniversaries of March 15, 2026, subject to the reporting person's continuous employment. The reporting person will receive one share of common stock for each vested restricted stock unit.

2. Includes previously reported restricted stock units.

3. Previously reported shares of common stock.

Remarks:

	/s/ Jeff J. Zanotti as Attorney-in-Fact for Said Esfahani	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 Travel & Leisure Co. (TNL) disclose about SY Esfahani in this Form 4?

Travel & Leisure Co. reported that Chief Technology Officer SY Esfahani received 12,587 restricted stock units of common stock on March 11, 2026 as an equity grant. The filing also updates his total direct holdings, including previously reported restricted stock units and common shares.

How many Travel & Leisure Co. (TNL) shares and units does SY Esfahani now hold?

After the reported transactions, Chief Technology Officer SY Esfahani directly holds 49,598 Travel & Leisure Co. common shares and restricted stock units in total. This figure includes the new 12,587-unit grant as well as previously reported restricted stock units and previously reported shares of common stock.

What are the vesting terms of SY Esfahani’s new restricted stock units at Travel & Leisure Co. (TNL)?

The 12,587 restricted stock units granted to SY Esfahani vest in four equal installments on each of the first four anniversaries of March 15, 2026. Vesting is conditioned on his continuous employment, and each vested restricted stock unit will convert into one share of common stock.

Did SY Esfahani buy or sell Travel & Leisure Co. (TNL) stock in the market in this Form 4?

No open-market purchases or sales were reported. The Form 4 shows an acquisition coded as a grant or award of 12,587 restricted stock units with a price per share of zero, meaning it is compensation rather than a market trade. No sale transactions appear in the filing.

What does the zero price per share mean in SY Esfahani’s Travel & Leisure Co. (TNL) Form 4 grant?

The reported price per share of 0.0000 indicates the 12,587 restricted stock units were granted without cash payment by SY Esfahani. They represent equity-based compensation, with value realized over time as units vest and convert into common stock, subject to continued employment conditions.