Travel & Leisure (NYSE: TNL) CTO gets stock grant, shares withheld

Rhea-AI Filing Summary

Travel & Leisure Co. Chief Technology Officer SY Esfahani reported routine equity compensation activity. On 2026-03-10, Esfahani acquired 25,680 shares of common stock at $0.00 per share upon vesting of previously granted restricted stock units and performance share units.

On the same date, 10,107 shares of common stock were disposed of back to the issuer at $71.12 per share, with footnotes stating these shares were withheld to satisfy tax liabilities tied to the vesting. After these transactions, Esfahani directly held 49,598 shares of common stock. The filing also reflects 18,832 previously reported restricted stock units, indicating an additional unvested equity position.

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

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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)
03/10/2026

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	03/10/2026		A		25,680(1)	A	$0	59,705(2)	D
Common Stock	03/10/2026		D		10,107(3)	D	$71.12	49,598(2)	D
Common Stock								18,832(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. Common stock acquired on vesting of previously-granted restricted stock units and performance share units.

2. Previously reported shares of common stock.

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

4. Previously reported restricted stock units.

Remarks:

	/s/ Jeff J. Zanotti as Attorney-in-Fact for Said Esfahani	03/12/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did Travel & Leisure Co. (TNL) disclose in this Form 4?

Travel & Leisure Co. reported routine equity compensation transactions for its Chief Technology Officer, including the vesting of restricted stock and related tax withholding. The filing details shares acquired, shares withheld for taxes, and the executive’s resulting common stock and restricted stock unit holdings.

How many Travel & Leisure (TNL) shares did the CTO acquire in this filing?

The CTO acquired 25,680 shares of common stock at $0.00 per share. Footnotes explain these shares came from the vesting of previously granted restricted stock units and performance share units, reflecting compensation rather than an open-market purchase.

Why were some of the CTO’s Travel & Leisure (TNL) shares disposed of?

10,107 shares of common stock were returned to the issuer at $71.12 per share. Footnotes state these shares were withheld as payment toward tax liabilities arising from the vesting of restricted stock units and performance share units, not sold on the open market.

How many Travel & Leisure (TNL) shares does the CTO hold after these transactions?

After the reported transactions, the CTO directly holds 49,598 shares of common stock. The Form 4 also shows 18,832 previously reported restricted stock units, indicating an additional unvested equity interest separate from the directly owned common shares.

Is this Travel & Leisure (TNL) Form 4 an open-market buy or sell?

The Form 4 shows no open-market buying or selling