TNL (TNL) CTO receives stock from RSU vesting and covers taxes with shares

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(Moderate)

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(Neutral)

Form Type

Rhea-AI Filing Summary

Travel & Leisure Co. Chief Technology Officer SY Esfahani reported routine equity compensation activity involving common stock. On the vesting of previously granted restricted stock units, Esfahani acquired 4,979 shares of common stock at no cost, increasing direct holdings to 54,577 shares at that time.

To cover taxes related to this vesting, 1,960 shares were withheld at a price of $68.53 per share, a non-market, tax-withholding disposition rather than an open-market sale. After these transactions, Esfahani directly owned 52,617 shares of Travel & Leisure Co. common stock.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider ESFAHANI SY

Role Chief Technology Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	4,979	$0.00	--
Tax Withholding	Common Stock	1,960	$68.53	$134K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 54,577 shares (Direct)

Footnotes (1)

Common stock acquired on vesting of previously granted restricted stock units. Includes previously reported shares of common stock. 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. Previously reported restricted stock units.

Form 4 Insider Transactions: What Each Field Means →

03/16/2026 - 06:10 PM

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

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)
03/15/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/15/2026		A		4,979⁽¹⁾	A	$0	54,577⁽²⁾	D
Common Stock	03/15/2026		F		1,960⁽³⁾	D	$68.53	52,617⁽²⁾	D
Common Stock								26,440⁽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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Common stock acquired on vesting of previously granted restricted stock units.

2. Includes previously reported shares of common stock.

3. 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.

4. Previously reported restricted stock units.

Remarks:

	/s/ Jeff Zanotti as Attorney-in-Fact for Said Esfahani	03/16/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did TNL’s Chief Technology Officer report?

Travel & Leisure Co. Chief Technology Officer SY Esfahani reported vesting of restricted stock units, receiving 4,979 common shares as equity compensation. This was a stock award rather than an open-market purchase and reflects standard executive compensation practices at the company.

Did the TNL CTO sell shares in the latest Form 4 filing?

The CTO did not complete an open-market sale. Instead, 1,960 shares were withheld at $68.53 per share solely to cover tax obligations from restricted stock unit vesting, a routine non-market disposition typically handled automatically by the company’s equity plan administrator.

How many TNL shares does the CTO hold after the reported transactions?

Following the restricted stock vesting and related tax withholding, SY Esfahani directly holds 52,617 shares of Travel & Leisure Co. common stock. This figure reflects net ownership after the company withheld a portion of the newly vested shares to satisfy associated tax liabilities.

What was the nature of the stock received by TNL’s CTO?

The stock received consisted of 4,979 common shares acquired upon vesting of previously granted restricted stock units. These awards were earlier reported and became full common shares on vesting, representing part of the CTO’s long-term incentive compensation package at Travel & Leisure Co.

Was the TNL CTO’s Form 4 transaction part of equity compensation?

Yes. The Form 4 states that common stock was acquired on vesting of restricted stock units, indicating equity compensation. Shares withheld at $68.53 per share were used to pay taxes due on this vesting, consistent with standard executive compensation administration practices.