Travel & Leisure Co. insider sells 62,525 shares

Travel & Leisure Co. officer Geoffrey S Richards reported selling a total of 62,525 shares of common stock on November 24, 2025, in market transactions at weighted-average prices around $65 per share, through the Geoffrey S Richards Revocable Trust.

Rhea-AI Filing Summary

Travel & Leisure Co. officer Geoffrey S Richards reported selling a total of 62,525 shares of common stock on November 24, 2025, in market transactions at weighted-average prices around $65 per share, through the Geoffrey S Richards Revocable Trust. After these sales, the trust holds 39,604 shares, and he holds 115,611 shares directly.

Insider Trade Summary

Net Seller: 62,525 shares

Net Sell 3 txns

Insider RICHARDS GEOFFREY

Role See Remarks

Sold 62,525 shs ($4.08M)

Type	Security	Shares	Price	Value
Sale	Common Stock	31,263	$65.293	$2.04M
Sale	Common Stock	31,262	$65.056	$2.03M
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 39,604 shares (Indirect, Geoffrey S Richards Revocable Trust); Common Stock — 115,611 shares (Direct)

Footnotes (4)

1. F1. 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. F2. Includes previously reported common stock.
3. F3. 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. F4. Previously reported restricted stock units.

Key Figures

Total shares sold: 62,525 shares First sale block: 31,263 shares at $65.293 per share Second sale block: 31,262 shares at $65.056 per share +4 more

7 metrics

Total shares sold 62,525 shares Common stock sold on November 24, 2025 via Geoffrey S Richards Revocable Trust

First sale block 31,263 shares at $65.293 per share Non-derivative common stock sale on November 24, 2025, indirect ownership

Second sale block 31,262 shares at $65.056 per share Non-derivative common stock sale on November 24, 2025, indirect ownership

Price range footnote 1 $65.25–$65.36 Weighted-average sale price range referenced in footnote for Column 4

Price range footnote 2 $65.00–$65.115 Second weighted-average sale price range referenced in footnote for Column 4

Indirect holdings after sale 39,604 shares Common stock held via Geoffrey S Richards Revocable Trust after reported transactions

Direct holdings after sale 115,611 shares Common stock held directly by Geoffrey S Richards after reported transactions

Key Terms

weighted average price, revocable trust, restricted stock units, indirect ownership

4 terms

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

revocable trust financial

"nature_of_ownership: Geoffrey S Richards Revocable Trust"

A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.

restricted stock units financial

"Previously reported 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.

indirect ownership financial

"ownership_type: indirect for shares held via the revocable trust"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Geoffrey S Richards report in Travel & Leisure Co. (TNL) Form 4?

Geoffrey S Richards reported selling 62,525 TNL common shares on November 24, 2025, via his revocable trust. The filing also shows post-transaction holdings of 39,604 indirect and 115,611 direct shares of Travel & Leisure Co. common stock.

How many Travel & Leisure Co. (TNL) shares were sold and at what prices?

Richards’ trust sold 31,263 shares at $65.293 and 31,262 shares at $65.056, totaling 62,525 shares. Footnotes state these prices are weighted averages for multiple trades within ranges from $65.25–$65.36 and $65.00–$65.115, respectively.

How many Travel & Leisure Co. (TNL) shares does Geoffrey S Richards hold after the reported sales?

After the sales, Geoffrey S Richards holds 39,604 TNL shares indirectly through the Geoffrey S Richards Revocable Trust and 115,611 shares directly. These balances reflect his remaining common stock positions as of the Form 4 reporting date.

Was the Geoffrey S Richards Form 4 transaction in Travel & Leisure Co. (TNL) a market sale?

Yes. Both transactions are coded “S,” described as a sale in open market or private transaction. The reported prices and weighted-average ranges indicate typical market executions in multiple trades on November 24, 2025.

How is ownership of Travel & Leisure Co. (TNL) shares structured for Geoffrey S Richards?

Richards holds TNL common stock both indirectly and directly. The indirect position is 39,604 shares via the Geoffrey S Richards Revocable Trust, while his direct ownership is reported as 115,611 shares following the November 24, 2025 transactions.

Does the Travel & Leisure Co. (TNL) Form 4 mention restricted stock units for Geoffrey S Richards?

Yes. A footnote references “previously reported restricted stock units”, indicating RSU-related holdings were disclosed earlier. However, the November 24, 2025 Form 4 focuses on common stock sales and resulting share ownership balances.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 11/26/2025 - 03:39 PM EST Learn about SEC filing dates

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
Estimated average burden
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^*

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.