Director at Travel & Leisure (NYSE: TNL) granted new stock units

Rhea-AI Filing Summary

RICKLES RONALD L reported acquisition or exercise transactions in this Form 4 filing.

Travel & Leisure Co. director Ronald L. Rickles received a grant of 3,653 shares of common stock on March 11, 2026 as a non-cash equity award. The grant reflects deferred stock units issued for retainer fees and an annual equity grant, with each unit delivering one share of common stock after he retires or leaves the Board. Following this award, he directly holds 53,070 shares of common stock, and the filing notes additional previously reported deferred and restricted stock units related to prior grants.

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

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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^*

RICKLES RONALD L

(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
	Officer (give title below)		Other (specify below)

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		3,653(1)	A	$0	53,070(2)	D
Common Stock								741(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. Deferred stock units issued for retainer fees and annual equity grant. Each deferred stock unit entitles the reporting person to receive one share of common stock following the reporting person's retirement or termination of service from the Board of Directors.

2. Includes previously reported deferred stock units.

3. Previously reported restricted stock units.

Remarks:

	/s/ Jeff Zanotti as Attorney-in-Fact for Ronald L. Rickles	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.

FAQ

What did Ronald L. Rickles report in this Form 4 for TNL?

Ronald L. Rickles reported an equity award. He received 3,653 shares of Travel & Leisure Co. common stock as a non-cash grant tied to director retainer fees and an annual equity grant, increasing his directly held common stock position.

How many Travel & Leisure Co. shares does Ronald L. Rickles hold after this transaction?

Rickles holds 53,070 common shares after the award. The Form 4 shows his directly owned Travel & Leisure Co. common stock position at 53,070 shares following the 3,653-share grant reported on March 11, 2026.

What type of equity did Ronald L. Rickles receive from Travel & Leisure Co.?

He received deferred stock units settling in common stock. The award consists of deferred stock units issued for retainer fees and an annual equity grant, each entitling him to one share of common stock after retirement or termination of Board service.

Was Ronald L. Rickles’ Form 4 transaction a market purchase or sale of TNL stock?

The transaction was not a market trade. The Form 4 describes a grant or award of 3,653 shares at a price of $0.00 per share, indicating a compensation-related equity grant rather than an open-market buy or sell.

Do the reported deferred stock units for TNL include prior awards to Ronald L. Rickles?

Yes, prior deferred units are included. A footnote states that the reported deferred stock units include previously reported deferred stock units, reflecting cumulative director compensation awards over time rather than only a single new grant.

What other equity instruments related to Travel & Leisure Co. are referenced in the filing?

The filing references previously reported restricted stock units. A footnote notes previously reported restricted stock units, indicating that in addition to common shares and deferred stock units, Rickles has past RSU awards already disclosed in earlier filings.