Travel & Leisure director sells 10,552 shares
Travel & Leisure Co. director and officer Michael Dean Brown reported an option exercise and related share sales in company stock.
Rhea-AI Filing Summary
Travel & Leisure Co. director and officer Michael Dean Brown reported an option exercise and related share sales in company stock. Brown exercised stock options to acquire a total of 10,552 shares of Common Stock at an exercise price of $44.38 per share, then sold 10,552 shares in open-market transactions at weighted average prices of $79.105 and $79.133 per share. These transactions were executed pursuant to a pre‑arranged Rule 10b5-1 trading plan adopted on November 25, 2025. Following the transactions, Brown directly holds 487,303 shares of common stock.
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Insider Trade Summary 10b5-1
Exercise and Sale: 10,552 shares ($366K approx. pre-tax spread)
Exercise and Sale
7 txns
Insider
Brown Michael Dean
Role
See Remarks
Sold
10,552 shs ($835K)
Approx. gross sale proceeds
$835K
Approx. exercise cost
$468K
Approx. pre-tax spread
$366K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Options (right to buy) | 9,443 | $0.00 | $0.00 |
| Exercise | Common Stock | 9,443 | $44.38 | $419K |
| Sale | Common Stock | 9,443 | $79.105 | $747K |
| Exercise | Stock Options (right to buy) | 1,109 | $0.00 | $0.00 |
| Exercise | Common Stock | 1,109 | $44.38 | $49K |
| Sale | Common Stock | 1,109 | $79.133 | $88K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Options (right to buy) — 24,326 contracts (Direct);
Common Stock — 775,437 shares (Direct)
Footnotes (6)
- F1. Option exercise and sale effectuated pursuant to a Rule 10b5-1 plan adopted November 25, 2025.
- F2. Includes previously reported shares of common stock.
- F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $79.00 to 79.340, 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.
- F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $79.00 to 79.290, 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.
- F5. Previously reported restricted stock units.
- F6. 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
Shares sold: 10,552 shares
Sale prices: $79.105 and $79.133 per share
Option exercise price: $44.38 per share
+5 more
8 metrics
Shares sold
10,552 shares
Open-market sales of common stock on April 16–17, 2026
Sale prices
$79.105 and $79.133 per share
Weighted average prices for sales on April 17 and April 16, 2026
Option exercise price
$44.38 per share
Exercise of stock options into common stock
Shares acquired via exercise
10,552 shares
Common stock obtained through option exercises on April 16–17, 2026
Post-transaction holdings
487,303 shares
Common stock directly owned after reported transactions
10b5-1 plan adoption date
November 25, 2025
Plan governing the option exercise and sale
Option grant date
March 7, 2019
Stock options granted under Equity and Incentive Plan
Option expiration date
March 7, 2029
Expiration of the exercised stock options
Key Terms
Rule 10b5-1 plan, Stock options (right to buy), Equity and Incentive Plan, restricted stock units, +1 more
5 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.
Stock options (right to buy) financial
"Stock options (right to buy) with underlying security title Common Stock."
Equity and Incentive Plan financial
"Stock options granted on March 7, 2019, under the Registrant's Equity and Incentive Plan."
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.
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.
FAQ
What insider transactions did TNL director Michael Dean Brown report?
Michael Dean Brown reported exercising stock options for 10,552 shares of Travel & Leisure Co. common stock at $44.38 per share and selling 10,552 shares in open-market transactions at weighted average prices around $79.11 per share over two days.
Were Michael Dean Brown’s TNL stock sales made under a Rule 10b5-1 plan?
Yes. The filing states the option exercise and sale were effectuated under a Rule 10b5-1 trading plan adopted on November 25, 2025. Such plans pre‑schedule trades, indicating the timing was set in advance rather than decided at the time of sale.
What was the exercise price of the TNL stock options used in these transactions?
The options used in these transactions had an exercise price of $44.38 per share. They were granted on March 7, 2019 under the company’s Equity and Incentive Plan and vested in four equal annual installments after the grant date.
What type of Travel & Leisure Co. awards did Michael Dean Brown exercise?
He exercised stock options, described as “Stock options (right to buy)” with an underlying security of common stock. These options were granted under the Registrant’s Equity and Incentive Plan and had vested over four years starting on March 7, 2019.
AI-generated analysis. How Rhea-AI works. Not financial advice.
