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Travel & Leisure (NYSE: TNL) awards 129,720 restricted stock units to director

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Travel & Leisure Co. director and officer Michael Dean Brown reported receiving a grant of 129,720 shares of common stock in the form of restricted stock units on March 11, 2026. These RSUs vest in four equal installments on each of the first four anniversaries of March 15, 2026, subject to his continuous employment.

After this compensation grant, the reported direct holdings for this award line total 317,178 shares of common stock. Each vested restricted stock unit will convert into one share of common stock.

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Insider Brown Michael Dean
Role See Remarks
Type Security Shares Price Value
Grant/Award Common Stock 129,720 $0.00 --
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 317,178 shares (Direct)
Footnotes (1)
  1. Restricted stock units granted on March 11, 2026 under the Registrant's Equity and Incentive Plan. The units vest in four equal installments on each of the first four anniversaries of March 15, 2026, subject to the reporting person's continuous employment. The reporting person will receive one share of common stock for each vested restricted stock unit. Includes previously reported shares of restricted stock units. Previously reported shares of common stock.
Form 4 Insider Transactions: What Each Field Means →
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*
Brown Michael Dean
(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)
X Director 10% Owner
X Officer (give title below) Other (specify below)
See Remarks
3. Date of Earliest Transaction (Month/Day/Year)
03/11/2026
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 03/11/2026 A 129,720(1) A $0 317,178(2) D
Common Stock 63,433 D
Common Stock 469,688(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. Restricted stock units granted on March 11, 2026 under the Registrant's Equity and Incentive Plan. The units vest in four equal installments on each of the first four anniversaries of March 15, 2026, subject to the reporting person's continuous employment. The reporting person will receive one share of common stock for each vested restricted stock unit.
2. Includes previously reported shares of restricted stock units.
3. Previously reported shares of common stock.
Remarks:
President & CEO
/s/ Jeff Zanotti as Attorney-in-Fact for Michael Dean Brown 03/13/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Travel & Leisure Co. (TNL) report for Michael Dean Brown?

Travel & Leisure Co. reported that director and officer Michael Dean Brown received a grant of 129,720 restricted stock units on March 11, 2026. This is an equity compensation award, not an open‑market stock purchase or sale, and reflects additional stock-based incentives.

How many Travel & Leisure Co. (TNL) shares were granted to Michael Dean Brown?

Michael Dean Brown was granted 129,720 restricted stock units tied to Travel & Leisure Co. common stock. The award was priced at $0.00 per share because it is a compensation grant, with each restricted stock unit eventually settling into one share of common stock when vested.

What are the vesting terms for Michael Dean Brown’s TNL restricted stock units?

The 129,720 restricted stock units vest in four equal installments on the first four anniversaries of March 15, 2026. Vesting is conditioned on Michael Dean Brown’s continuous employment, and each vested unit will deliver one share of Travel & Leisure Co. common stock upon settlement.

Is Michael Dean Brown’s TNL Form 4 transaction a stock purchase or sale?

The reported Form 4 transaction is not a market purchase or sale. It is a grant of 129,720 restricted stock units at $0.00 per share as part of an equity and incentive plan, representing stock-based compensation rather than trading activity in Travel & Leisure Co. shares.

How many Travel & Leisure Co. shares does Michael Dean Brown hold after the reported grant?

Following the reported restricted stock unit grant, one reported direct holding line for Michael Dean Brown shows 317,178 shares of Travel & Leisure Co. common stock. This figure reflects his position associated with that specific award after the March 11, 2026 compensation grant.