Travel & Leisure (NYSE: TNL) CAO sells 20,000 shares at $74.16

Rhea-AI Filing Summary

Travel & Leisure Co. (TNL) executive Duncan Thomas Michael, SVP and Chief Accounting Officer, reported selling 20,000 shares of common stock on 2026-08-26 in a sale categorized as an open market or private transaction. The weighted average sale price was $74.16 per share, with individual trades executed between $74.12 and $74.28. The filing’s Rule 10b5-1 checkbox was not marked as being under a trading plan. A separate holding entry notes that the amount of restricted stock units now includes 2,657 RSUs that had been previously omitted due to an administrative error.

Insider Trade Summary

Net Seller: 20,000 shares

Net Sell 2 txns

Insider Duncan Thomas Michael

Role SVP, Chief Accounting Officer

Sold 20,000 shs ($1.48M)

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F2	20,000	$74.16	$1.48M
holding	Common Stock F3	--	--	--

Holdings After Transaction: Common Stock — 42,634 shares (Direct)

Footnotes (3)

1. F1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $74.12 to $74.28, inclusive. The reporting person undertakes to provide to Travel + Leisure Co., any security holder of Travel + Leisure Co. or the staff of the Securities and Exchange Commission, upon request full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
2. F2. Previously reported shares of common stock.
3. F3. Amount of restricted stock units (RSUs) includes 2,657 RSUs that were previously omitted due to an administrative error.

Key Figures

Shares sold: 20,000 shares of Common Stock Weighted average sale price: $74.16 per share Sale price range: $74.12 to $74.28 per share +1 more

4 metrics

Shares sold 20,000 shares of Common Stock Sale reported for 2026-08-26

Weighted average sale price $74.16 per share Sale of 20,000 shares of Common Stock

Sale price range $74.12 to $74.28 per share Individual trades within the reported sale

Previously omitted RSUs now included 2,657 RSUs Correction to amount of restricted stock units due to administrative error

Key Terms

weighted average price, restricted stock units (RSUs), open market or private transaction

3 terms

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

restricted stock units (RSUs) financial

"Amount of restricted stock units (RSUs) includes 2,657 RSUs that were previously omitted"

Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.

open market or private transaction financial

"transaction_code_description: Sale in open market or private transaction"

FAQ

What insider transaction did TNL executive Duncan Thomas Michael report?

He reported a sale of 20,000 shares of Travel & Leisure Co. common stock on 2026-08-26 in an open market or private transaction.

At what price were the TNL shares sold in this Form 4 filing?

The shares were sold at a weighted average price of $74.16 per share, with individual trades executed between $74.12 and $74.28, as disclosed in the footnote.

Was the TNL insider sale made under a Rule 10b5-1 trading plan?

No. The filing’s Rule 10b5-1 checkbox is not checked, and there is no footnote stating the transactions were made pursuant to a Rule 10b5-1 trading plan.

What correction related to RSUs was disclosed for TNL in this Form 4?

A footnote states that the amount of restricted stock units now includes 2,657 RSUs that were previously omitted due to an administrative error.

Does the Form 4 state how many TNL shares Duncan Thomas Michael owns after the sale?

No. The non-derivative transaction row shows no value for shares held after the sale, so the filing does not state a post-transaction common stock holding figure.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/27/2026 - 04:24 PM Accepted by SEC EDGAR 08/27/2026 - 04:23 PM 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^*

Duncan Thomas Michael

(Last) (First) (Middle)

C/O TRAVEL + LEISURE CO.

501 WEST CHURCH STREET

(Street)

ORLANDO FLORIDA 32805

(City) (State) (Zip)

UNITED STATES

(Country)

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)
	SVP, Chief Accounting Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/26/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	08/26/2026		S		20,000(1)	D	$74.16(1)	5,307(2)	D
Common Stock								37,327(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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $74.12 to $74.28, inclusive. The reporting person undertakes to provide to Travel + Leisure Co., any security holder of Travel + Leisure Co. or the staff of the Securities and Exchange Commission, upon request full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

2. Previously reported shares of common stock.

3. Amount of restricted stock units (RSUs) includes 2,657 RSUs that were previously omitted due to an administrative error.

Remarks:

	/s/ Jeff J. Zanotti as Attorney-in-Fact for Thomas M. Duncan	08/27/2026
	** 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.
* Form 4: SEC 1474 (03-26)