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

Rhea-AI Filing Summary

Travel & Leisure Co. insider activity: Chief Operating Officer, Vacation Ownership, Geoffrey S. Richards reported selling Travel & Leisure Co. (TNL) common stock on 11/24/2025. Through the Geoffrey S Richards Revocable Trust, he sold 31,263 shares at a weighted average price of $65.293 and another 31,262 shares at a weighted average price of $65.056, with each sale executed across multiple trades within narrow price ranges. After these transactions, the trust beneficially owns 70,866 and 39,604 shares of common stock in two reported lines, and Mr. Richards is also shown with 115,611 previously reported restricted stock units. The filing notes that full trade-by-trade pricing details are available upon request to the company or the SEC staff.

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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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^*

RICHARDS GEOFFREY

(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)
	See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
11/24/2025

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	11/24/2025		S		31,263	D	$65.293(1)	70,866(2)	I	Geoffrey S Richards Revocable Trust
Common Stock	11/24/2025		S		31,262	D	$65.056(3)	39,604(2)	I	Geoffrey S Richards Revocable Trust
Common Stock								115,611(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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $65.25 to $65.36, inclusive. The reporting person undertakes to provide to Travel + Leisure Co., any security holder of Travel + Leisure Co. or the staff of the Securities and Exchange Commission, upon request full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

2. Includes previously reported common stock.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $65.00 to $65.115, inclusive. The reporting person undertakes to provide to Travel + Leisure Co., any security holder of Travel + Leisure Co. or the staff of the Securities and Exchange Commission, upon request full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

4. Previously reported restricted stock units.

Remarks:

Chief Operating Officer, Vacation Ownership.

	/s/ Jeff Zanotti as Attorney-in-Fact for Geoffrey Richards	11/26/2025
	** 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 insider transaction did TNL executive Geoffrey S. Richards report?

Geoffrey S. Richards, Chief Operating Officer, Vacation Ownership of Travel & Leisure Co. (TNL), reported sales of company common stock on 11/24/2025 by the Geoffrey S Richards Revocable Trust.

How many TNL shares did Geoffrey S. Richards sell in this Form 4?

The filing reports two sales: 31,263 shares of common stock at a weighted average price of $65.293, and 31,262 shares at a weighted average price of $65.056, both through the Geoffrey S Richards Revocable Trust.

What prices were received for the TNL shares sold by Geoffrey S. Richards?

The $65.293 weighted average price reflects multiple trades between $65.25 and $65.36, while the $65.056 weighted average price reflects multiple trades between $65.00 and $65.115, as disclosed in the footnotes.

How many TNL shares does Geoffrey S. Richards report owning after the transactions?

After the reported sales, the Geoffrey S Richards Revocable Trust beneficially owns 70,866 and 39,604 shares of Travel & Leisure Co. common stock in two reported positions, and Mr. Richards is also shown with 115,611 previously reported restricted stock units.

Is there any derivative security activity reported for TNL in this Form 4?

The section for derivative securities (Table II) is present but does not show any specific derivative transactions or holdings in the excerpt provided.

What additional information about the TNL insider sales is available on request?

The footnotes state that Mr. Richards will provide to Travel & Leisure Co., any security holder, or SEC staff full information on the number of shares sold at each separate price within the disclosed trading ranges.

What is Geoffrey S. Richards' role at Travel & Leisure Co.?

The remarks identify Geoffrey S. Richards as Chief Operating Officer, Vacation Ownership of Travel & Leisure Co.