TNL CHRO gets stock award, shares withheld for tax

Travel & Leisure Co. Chief Human Resources Officer Kimberly Marshall reported routine equity compensation activity.

Rhea-AI Filing Summary

Travel & Leisure Co. Chief Human Resources Officer Kimberly Marshall reported routine equity compensation activity. She received 28,797 shares of common stock on vesting of previously granted restricted stock units and performance share units, then 11,333 shares were returned to the company to cover related tax liabilities rather than sold on the market. After these transactions, she directly holds 57,700 shares of common stock and 27,325 previously reported restricted stock units.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider MARSHALL KIMBERLY

Role Chief Human Resources Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	28,797	$0.00	$0.00
Disposition	Common Stock	11,333	$71.12	$806K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 85,025 shares (Direct)

Footnotes (4)

1. F1. Common stock acquired on vesting of previously-granted restricted stock units and performance share units.
2. F2. Includes previously reported shares of common stock.
3. F3. Common stock withheld as payment toward the tax liability incident to the vesting of restricted stock units and performance share units granted in accordance with Rule 16b-3 and delivery of shares in respect thereof.
4. F4. Previously reported restricted stock units.

FAQ

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What insider transactions did TNL’s Kimberly Marshall report on this Form 4?

Kimberly Marshall reported vesting of equity awards and related tax withholding. She acquired 28,797 shares of Travel & Leisure common stock from vested restricted stock units and performance share units, and 11,333 shares were returned to the company to satisfy tax obligations.

How many Travel & Leisure (TNL) shares did the CHRO acquire and at what price?

She acquired 28,797 shares of common stock at a stated price of $0.00 per share. This reflects vesting of previously granted restricted stock and performance share units, representing compensation rather than an open-market purchase for cash.

Were any of Kimberly Marshall’s TNL shares sold on the open market in this filing?

No open-market sale is reported. The 11,333-share disposition was a return of shares to Travel & Leisure Co. as payment toward tax liabilities arising from the vesting of restricted and performance share units, according to the transaction details and footnotes.

What are Kimberly Marshall’s Travel & Leisure share holdings after these transactions?

Following the reported transactions, she directly owns 57,700 shares of Travel & Leisure common stock. In addition, a separate holding entry shows 27,325 previously reported restricted stock units, reflecting unvested equity awards that may settle in shares in the future.

What do the restricted stock and performance share units in TNL’s Form 4 represent?

The units represent prior equity awards that convert into common stock upon vesting. In this filing, previously granted restricted stock units and performance share units vested into 28,797 shares, while 27,325 restricted stock units remain outstanding as previously reported compensation awards.

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Accepted by SEC EDGAR 03/12/2026 - 08:51 PM EDT 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^*

MARSHALL KIMBERLY

(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)
	Chief Human Resources Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/10/2026

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	03/10/2026		A		28,797(1)	A	$0	69,033(2)	D
Common Stock	03/10/2026		D		11,333(3)	D	$71.12	57,700(2)	D
Common Stock								27,325(4)	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. Common stock acquired on vesting of previously-granted restricted stock units and performance share units.

2. Includes previously reported shares of common stock.

3. Common stock withheld as payment toward the tax liability incident to the vesting of restricted stock units and performance share units granted in accordance with Rule 16b-3 and delivery of shares in respect thereof.

4. Previously reported restricted stock units.

Remarks:

	/s/ Jeff Zanotti as Attorney-in-Fact for Kimberly Marshall	03/12/2026
	** 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.