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Travel & Leisure (NYSE: TNL) director discloses dividend deferred stock units

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

Rhea-AI Filing Summary

Travel & Leisure Co. director Michael H. Wargotz reported an automatic equity transaction on 12/31/2025. He received 1,046 deferred stock units of common stock, issued as dividend equivalents, with a stated price of $0 per unit. Each deferred stock unit entitles him to receive one share of common stock after he retires from or leaves the Board of Directors.

Following this transaction, Wargotz beneficially owns 129,329 deferred stock units, which include amounts previously reported, and 1,955 restricted stock units. The filing is made as a Form 4 for one reporting person in his capacity as a director of the company.

Positive

  • None.

Negative

  • None.
Insider Wargotz Michael H
Role Director
Type Security Shares Price Value
Grant/Award Common Stock 1,046 $0.00 --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 129,329 shares (Direct)
Footnotes (1)
  1. Deferred stock units issued for dividends. 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. Includes previously reported deferred stock units. Previously reported restricted stock units.
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*
Wargotz Michael H
(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)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025
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 12/31/2025 A 1,046(1) A $0 129,329(2) D
Common Stock 1,955(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 dividends. 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 Michael H. Wargotz 01/05/2026
** 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 (TNL) report in this Form 4?

The Form 4 reports that director Michael H. Wargotz received 1,046 deferred stock units of Travel & Leisure Co. common stock on 12/31/2025, issued as dividend-equivalent units at a stated price of $0 per unit.

How do the deferred stock units reported for TNL’s director work?

The filing states that each deferred stock unit entitles the reporting person to receive one share of common stock after retirement or termination of service from the Board of Directors.

How many Travel & Leisure (TNL) deferred stock units does the director own after this transaction?

After the reported transaction, the director beneficially owns 129,329 deferred stock units of Travel & Leisure Co. common stock, which the document notes includes previously reported deferred stock units.

Does the Travel & Leisure (TNL) director hold any restricted stock units?

Yes. The filing notes that the director also holds 1,955 restricted stock units, which were previously reported.

What is Michael H. Wargotz’s relationship to Travel & Leisure (TNL)?

The document identifies Michael H. Wargotz as a director of Travel & Leisure Co., and the Form 4 is filed for one reporting person in that capacity.

Was the Travel & Leisure (TNL) Form 4 filed by an individual or a group?

The filing indicates that it is a Form filed by one reporting person, rather than by more than one reporting person.