Travel + Leisure Co. Insider Trading Activity

Insider Trade Summary

Exercise and Sale: 124,454 shares ($2.49M approx. pre-tax spread)

Exercise and Sale 7 txns

Insider RICHARDS GEOFFREY

Role See Remarks

Sold 124,454 shs ($7.79M)

Approx. gross sale proceeds $7.79M

Approx. exercise cost $5.29M

Approx. pre-tax spread $2.49M

Type	Security	Shares	Price	Value
Exercise	Stock Options (right to buy)	55,679	$0.00	$0.00
Exercise	Stock Options (right to buy)	68,775	$0.00	$0.00
Exercise	Common Stock	55,679	$44.38	$2.47M
Exercise	Common Stock	68,775	$41.04	$2.82M
Sale	Common Stock	124,454	$62.5581	$7.79M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Options (right to buy) — 0 contracts (Direct); Common Stock — 234,329 shares (Direct); Common Stock — 22,301 shares (Indirect, Geoffrey S Richards Revocable Trust)

Footnotes (5)

1. F1. Includes previously reported shares of common stock.
2. F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $62.55 to $62.595, 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.
3. F3. Previously reported restricted stock units.
4. F4. Stock options vested ratably over a period of four years on each anniversary of March 7, 2019.
5. F5. Stock options vested ratably over a period of four years on each anniversary of March 10, 2020.

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Accepted by SEC EDGAR 07/28/2025 - 04:08 PM EDT 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).

1. Name and Address of Reporting Person^*

RICHARDS GEOFFREY

(Last) (First) (Middle)

C/O TRAVEL + LEISURE CO.

6277 SEA HARBOR DRIVE

(Street)

ORLANDO FL 32821

(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)
07/25/2025

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	07/25/2025		M		55,679	A	$44.38	174,397(1)	D
Common Stock	07/25/2025		M		68,775	A	$41.04	243,172(1)	D
Common Stock	07/25/2025		S		124,454	D	$62.5581(2)	118,718(1)	D
Common Stock								115,611(3)	D
Common Stock								22,301	I	Geoffrey S Richards Revocable Trust

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
Stock Options (right to buy)	$44.38	07/25/2025		M			55,679	(4)	03/07/2029	Common Stock	55,679	$0	0	D
Stock Options (right to buy)	$41.04	07/25/2025		M			68,775	(5)	03/04/2030	Common Stock	68,775	$0	0	D

Explanation of Responses:

1. Includes previously reported shares of common stock.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $62.55 to $62.595, 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.

3. Previously reported restricted stock units.

4. Stock options vested ratably over a period of four years on each anniversary of March 7, 2019.

5. Stock options vested ratably over a period of four years on each anniversary of March 10, 2020.

Remarks:

Chief Operating Officer, Vacation Ownership.

	/s/ Jeff Zanotti as Attorney-in-Fact for Geoffrey Richards	07/28/2025
	** 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.