Travel & Leisure (NYSE: TNL) exec stock grant with tax withholding

Rhea-AI Filing Summary

Travel & Leisure Co. officer Geoffrey Richards reported routine equity compensation activity. He acquired 13,277 shares of common stock at $0.00 per share upon vesting of previously granted restricted stock units. To cover taxes from this vesting, 5,225 shares were withheld at $68.53 per share rather than sold on the open market.

After these transactions, one line in the filing shows Richards holding 37,998 shares of common stock directly. Separate holding entries list 86,521 shares of common stock held directly and 35,344 shares held indirectly through the Geoffrey S Richards Revocable Trust.

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^*

RICHARDS GEOFFREY

(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)
	See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
03/15/2026

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	03/15/2026		A		13,277(1)	A	$0	43,223(2)	D
Common Stock	03/15/2026		F		5,225(3)	D	$68.53	37,998(2)	D
Common Stock								86,521(4)	D
Common Stock								35,344	I	Geoffrey S Richards Revocable Trust

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.

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 granted in accordance with Rule 16b-3 and delivery of shares in respect thereof.

4. Previously reported restricted stock units.

Remarks:

Chief Operating Officer, Vacation Ownership

	/s/ Jeff Zanotti as Attorney-in-Fact for Geoffrey Richards	03/16/2026
	** 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).
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FAQ

What insider transactions did Geoffrey Richards report at Travel & Leisure Co. (TNL)?

Geoffrey Richards reported vesting of restricted stock units into 13,277 shares of common stock at $0.00 per share and a related tax-withholding disposition of 5,225 shares at $68.53 per share, both dated March 15, 2026.

Was the 5,225-share disposition by Geoffrey Richards in TNL an open-market sale?

No, the 5,225-share disposition was for tax withholding. Shares were withheld as payment toward tax liability tied to the vesting of restricted stock units, not sold in the open market, according to the filing’s footnote description.

How many Travel & Leisure Co. shares did Geoffrey Richards acquire in this Form 4?

He acquired 13,277 shares of Travel & Leisure Co. common stock at $0.00 per share. The filing states these were common shares received upon vesting of previously granted restricted stock units, representing compensation rather than a market purchase.

What are Geoffrey Richards’ reported direct share holdings in Travel & Leisure Co. after these transactions?

One transaction line shows 37,998 shares of common stock held directly after tax withholding. A separate holding entry lists 86,521 shares of common stock held directly, reflecting a broader snapshot of his direct ownership in the same report.

Does Geoffrey Richards hold Travel & Leisure Co. (TNL) shares indirectly through a trust?

Yes. The filing reports 35,344 shares of common stock held indirectly through the Geoffrey S Richards Revocable Trust. This is shown as an indirect ownership entry, separate from his directly held Travel & Leisure Co. shares.

What do the footnotes in Geoffrey Richards’ TNL Form 4 explain about these transactions?

Footnotes explain that common stock was acquired on vesting of previously granted restricted stock units and that shares were withheld to pay taxes on that vesting, under Rule 16b-3. They also note that some reported amounts include previously reported shares and restricted stock units.