TNL officer sells 9,548 shares near $65; 102,129 held indirectly

Travel + Leisure Co. (TNL) officer Geoffrey S. Richards reported open‑market sales of common stock.

Rhea-AI Filing Summary

Travel + Leisure Co. (TNL) officer Geoffrey S. Richards reported open‑market sales of common stock. He sold 4,556 shares on 11/12/2025 at a weighted average price of $65.00 (individual trades ranged from $65.00 to $65.0071), and 4,992 shares on 11/13/2025 at $65.00.

Following these transactions, he beneficially owned 102,129 shares indirectly via the Geoffrey S Richards Revocable Trust, and held 115,611 previously reported restricted stock units directly.

Insights

Equity governance analyst

Routine insider sales disclosed; neutral governance signal.

Geoffrey S. Richards, an officer of Travel + Leisure Co., reported two open‑market sales totaling 9,548 shares on 11/12/2025 and 11/13/2025 at approximately $65 per share. One trade lists a weighted average with a narrow price range, typical for multiple executions in a single day.

Post‑trade, he reports 102,129 shares held indirectly via trust and 115,611 previously reported RSUs held directly. These figures describe current beneficial ownership and awards; actual impact depends on future vesting and any additional transactions.

Insider Trade Summary

Net Seller: 9,548 shares

Net Sell 3 txns

Insider RICHARDS GEOFFREY

Role See Remarks

Sold 9,548 shs ($621K)

Type	Security	Shares	Price	Value
Sale	Common Stock	4,992	$65.00	$324K
Sale	Common Stock	4,556	$65.00	$296K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 102,129 shares (Indirect, Geoffrey S Richards Revocable Trust); Common Stock — 115,611 shares (Direct)

Footnotes (3)

1. F1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $65.00 to $65.0071, 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. Previously reported restricted stock units.

FAQ

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

What did TNL’s Form 4 report for Geoffrey S. Richards?

It disclosed open‑market sales of 4,556 shares on 11/12/2025 and 4,992 shares on 11/13/2025.

At what prices were the TNL shares sold?

On 11/12/2025, a weighted average of $65.00 with trades from $65.00 to $65.0071; on 11/13/2025, $65.00.

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

He reports 102,129 shares indirectly via the Geoffrey S Richards Revocable Trust.

What derivative or award holdings are reported?

He reports 115,611 previously reported restricted stock units held directly.

Was a Rule 10b5‑1 trading plan indicated?

A checkbox for Rule 10b5‑1 is shown, but the excerpt does not indicate it was selected.

Who signed the filing?

It was signed by /s/ Jeff Zanotti as Attorney‑in‑Fact for Geoffrey Richards on 11/14/2025.

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

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Accepted by SEC EDGAR 11/14/2025 - 03:13 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)
11/12/2025

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	11/12/2025		S		4,556	D	$65(1)	107,121(2)	I	Geoffrey S Richards Revocable Trust
Common Stock	11/13/2025		S		4,992	D	$65	102,129(2)	I	Geoffrey S Richards Revocable Trust
Common Stock								115,611(3)	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 $65.00 to $65.0071, 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. Previously reported restricted stock units.

Remarks:

	/s/ Jeff Zanotti as Attorney-in-Fact for Geoffrey Richards	11/14/2025
	** 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.