Travel & Leisure Co. (TNL) CFO exercises stock options and sells 200 shares under 10b5-1 plan
Rhea-AI Filing Summary
Travel & Leisure Co. executive Michael Dean Brown, President, Chief Financial Officer and director, reported a coordinated option exercise and share sale. On August 6, 2026, he exercised stock options for 200 shares of common stock at an exercise price of $44.38 per share and immediately sold 200 shares at $79.00 per share. The transactions were effectuated under a Rule 10b5-1 plan adopted on November 25, 2025. The options were originally granted on March 7, 2019 under the company’s Equity and Incentive Plan and expire on March 7, 2029. Following the derivative transaction, 19,976 stock options of this grant remain outstanding.
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Insider Trade Summary 10b5-1
Exercise and Sale: 200 shares ($7K approx. pre-tax spread)
Exercise and Sale
4 txns
Insider
Brown Michael Dean
Role
See Remarks
Sold
200 shs ($16K)
Approx. gross sale proceeds
$16K
Approx. exercise cost
$9K
Approx. pre-tax spread
$7K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Options (right to buy) F1, F5 | 200 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 200 | $44.38 | $9K |
| Sale | Common Stock F1, F2 | 200 | $79.00 | $16K |
| holding | Common Stock F3, F4 | -- | -- | -- |
Holdings After Transaction:
Stock Options (right to buy) — 19,976 shares (Direct);
Common Stock — 775,437 shares (Direct)
Footnotes (5)
- F1. Option exercise and sale effectuated pursuant to a Rule 10b5-1 plan adopted November 25, 2025.
- F2. Previously reported shares of common stock.
- F3. Restricted Stock Units
- F4. Previously reported restricted stock units.
- F5. Stock options granted on March 7, 2019, under the Registrant's Equity and Incentive Plan. The options vested in four equal installments on each of the first four anniversaries of March 7, 2019.
Key Figures
Options exercised: 200 shares
Exercise price: $44.38 per share
Sale price: $79.00 per share
+4 more
7 metrics
Options exercised
200 shares
Stock options exercised into common stock on August 6, 2026
Exercise price
$44.38 per share
Exercise price of stock options granted March 7, 2019
Sale price
$79.00 per share
Price for sale of 200 common shares on August 6, 2026
Options remaining
19,976 shares
Stock options remaining from the reported grant after the exercise
Option grant date
March 7, 2019
Grant date of options under the Equity and Incentive Plan
Option expiration
March 7, 2029
Expiration date of the reported stock options
10b5-1 plan adoption
November 25, 2025
Adoption date of the Rule 10b5-1 trading plan
Key Terms
Rule 10b5-1 plan, Restricted Stock Units, Equity and Incentive Plan, Stock Options (right to buy)
4 terms
Rule 10b5-1 plan regulatory
"Option exercise and sale effectuated pursuant to a Rule 10b5-1 plan adopted November 25, 2025."
A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.
Restricted Stock Units financial
"Restricted Stock Units"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Equity and Incentive Plan financial
"granted on March 7, 2019, under the Registrant's Equity and Incentive Plan."
Stock Options (right to buy) financial
"security_title": "Stock Options (right to buy)""
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Travel & Leisure Co. (TNL) insider Michael Dean Brown report on this Form 4?
Brown reported an option exercise for 200 shares at $44.38 and an immediate sale of 200 common shares at $79.00 on August 6, 2026, under a pre-arranged trading plan.
How many Travel & Leisure Co. (TNL) options did Michael Dean Brown exercise and at what price?
He exercised 200 stock options for Travel & Leisure Co. common stock at an exercise price of $44.38 per share, from a grant originally issued on March 7, 2019, under the company’s Equity and Incentive Plan.
Were Michael Dean Brown’s Travel & Leisure Co. (TNL) trades under a Rule 10b5-1 plan?
Yes, the filing states the option exercise and sale were effectuated pursuant to a Rule 10b5-1 plan adopted on November 25, 2025, indicating they followed a pre-arranged trading schedule.
How many Travel & Leisure Co. (TNL) options of this grant does Michael Dean Brown still hold?
After exercising 200 options, 19,976 stock options from this March 7, 2019 grant remain outstanding. These options were granted under the company’s Equity and Incentive Plan and expire on March 7, 2029.
When do Michael Dean Brown’s reported Travel & Leisure Co. (TNL) options expire and how did they vest?
The reported stock options expire on March 7, 2029. According to the disclosure, they were granted on March 7, 2019 and vested in four equal installments on each of the first four anniversaries of the grant date.