Travel & Leisure Co. (TNL) CHRO receives 20,979-share restricted stock grant

Rhea-AI Filing Summary

MARSHALL KIMBERLY reported acquisition or exercise transactions in this Form 4 filing.

Travel & Leisure Co. Chief Human Resources Officer Kimberly Marshall received an equity compensation award in the form of 20,979 shares of common stock on March 11, 2026, reported as a grant or award transaction. These are restricted stock units that vest in four equal installments on each of the first four anniversaries of March 15, 2026, contingent on continued employment. After this grant and related updates, she directly holds a total of 57,700 shares of common stock, including previously reported restricted stock units and common shares.

Insights

Equity compensation analyst

Routine RSU grant increases CHRO’s equity stake as part of compensation.

The filing shows Kimberly Marshall, Chief Human Resources Officer of Travel & Leisure Co., receiving a grant of 20,979 restricted stock units on March 11, 2026. The award is made at no cash cost to her, typical for senior executive compensation.

The units vest in four equal annual installments starting on March 15, 2026, conditioned on her continued employment, which encourages retention. Each vested unit converts into one share of common stock. Following this grant and position update, she directly holds 57,700 common shares, including earlier grants and previously reported shares.

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)
03/11/2026

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		20,979(1)	A	$0	48,304(2)	D
Common Stock								57,700(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 restricted stock units.

3. Previously reported shares of common stock.

Remarks:

	/s/ Jeff Zanotti as Attorney-in-Fact for Kimberly Marshall	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 Travel & Leisure Co. (TNL) report in Kimberly Marshall’s latest Form 4?

The Form 4 reports that Chief Human Resources Officer Kimberly Marshall received a grant of 20,979 restricted stock units on March 11, 2026. These units are part of her equity compensation and convert into common stock as they vest over time.

How many Travel & Leisure Co. (TNL) shares does Kimberly Marshall hold after this Form 4?

After the reported transactions, Kimberly Marshall directly holds 57,700 shares of common stock. This total includes newly granted restricted stock units as well as previously reported restricted stock units and previously reported common shares combined in one updated figure.

What type of transaction is disclosed for TNL executive Kimberly Marshall in this Form 4?

The primary transaction is coded "A" for a grant, award, or other acquisition of common stock. It reflects 20,979 restricted stock units awarded as equity compensation, not an open-market stock purchase or sale, and therefore carries limited trading signal for investors.

How do the restricted stock units for TNL’s Kimberly Marshall vest?

The 20,979 restricted stock units granted to Kimberly Marshall vest in four equal installments on each of the first four anniversaries of March 15, 2026. Vesting is subject to her continuous employment, linking long-term incentives to her ongoing role at the company.

Does Kimberly Marshall’s Form 4 for TNL indicate any stock sales?

The Form 4 does not report any open-market sales of Travel & Leisure Co. stock by Kimberly Marshall. Instead, it shows an acquisition through an equity award of 20,979 restricted stock units and an updated direct holding balance of 57,700 common shares.

What plan governs the restricted stock units granted to TNL’s Kimberly Marshall?

The restricted stock units granted to Kimberly Marshall on March 11, 2026, were issued under Travel & Leisure Co.’s Equity and Incentive Plan. Under this plan, each vested restricted stock unit converts into one share of the company’s common stock upon vesting.