[Form 4] Travel + Leisure Co. Insider Trading Activity

Rhea-AI Filing Summary

Insider transactions by Amandine Robin-Caplan at Travel & Leisure Co. (TNL)

The filing reports three related transactions on 08/25/2025. 4,291 shares of common stock were acquired on vesting of previously granted restricted stock units at no cash price. Simultaneously, 1,045 shares were disposed of with a reported price of $62.02 per share as shares were withheld to satisfy tax withholding related to the RSU vesting. The filing also references 32,350 previously reported restricted stock units. The report is signed by an attorney-in-fact.

Positive

• 4,291 shares acquired on vesting of previously granted restricted stock units, indicating equity retention through compensation
• Filing discloses withholding method to satisfy tax liability, showing compliance with Rule 16 reporting

Negative

• 1,045 shares disposed at a reported price of $62.02, reducing the reporting person's direct share count

Insights

Securities Analyst

TL;DR: Insider received RSU vesting and used a portion of shares to cover taxes; transactions are routine compensation-related moves.

The reported acquisition of 4,291 shares on vesting and the withholding/disposition of 1,045 shares at $62.02 per share are typical for equity compensation settlements. There is no indication of a discretionary open-market sale to raise cash or a change in control. The remaining reference to 32,350 previously reported RSUs signals ongoing compensation exposure but the filing provides no information on schedule or conversion timing beyond the vesting event.

Corporate Governance Expert

TL;DR: The transactions reflect standard Rule 16b-3 compliant equity compensation mechanics, not a governance concern.

Vesting of restricted stock units with share withholding for tax obligations is a standard governance and compensation practice for an officer. The Form 4 discloses the mechanics (vesting, withholding at $62.02) and is signed by an authorized attorney-in-fact, indicating timely compliance with Section 16 reporting. No new arrangements or unusual transfers are disclosed in this filing.

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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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^*

ROBIN-CAPLAN AMANDINE

(Last) (First) (Middle)

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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/25/2025

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	08/25/2025		A		4,291(1)	A	$0	6,487	D
Common Stock	08/25/2025		F		1,045(2)	D	$62.02	5,442	D
Common Stock								32,350(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. Common stock acquired on vesting of previously-granted restricted stock units.

2. Common stock withheld as payment toward the tax liability incident to the vesting of restricted stock units granted in accordance with Rule 16b-3 and delivery of shares in respect thereof.

3. Previously reported restricted stock units.

Remarks:

Chief Brand and Communications Officer

	/s/ Jeff Zanotti as Attorney-in-Fact for Amandine Robin-Caplan	08/26/2025
	** 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 transactions did Amandine Robin-Caplan report on Form 4 for TNL?

The Form 4 reports that on 08/25/2025 Ms. Robin-Caplan acquired 4,291 shares on vesting of restricted stock units and 1,045 shares were disposed of (withheld) at a reported price of $62.02 per share.

Why were 1,045 shares disposed at $62.02 in the TNL Form 4?

The filing explains those shares were withheld as payment toward the tax liability incident to the vesting of restricted stock units.

How many previously reported restricted stock units are referenced in the filing?

The Form 4 references 32,350 previously reported restricted stock units.

What is the reporting person's role at Travel & Leisure Co.?

The filing lists the reporting person as an Officer with the remark identifying the position as Chief Brand and Communications Officer.

Who signed the Form 4 filing for Amandine Robin-Caplan?

The Form 4 is signed by Jeff Zanotti as Attorney-in-Fact for Amandine Robin-Caplan on 08/26/2025.