TripAdvisor (NASDAQ: TRIP) CLO converts 44K RSU and equity awards into shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
TripAdvisor, Inc. Chief Legal Officer & Secretary Seth J. Kalvert reported multiple equity compensation transactions in the form of derivative exercises on May 1, 2026. All 24 transactions increased his exposure to TripAdvisor by converting previously granted stock-based awards into common shares, without any reported open-market sales or gifts.
Positive
- None.
Negative
- None.
Insights
TripAdvisor’s CLO exercised 44,010 share-based awards, a routine compensation event with no open-market sales.
The filing shows Seth J. Kalvert, Chief Legal Officer & Secretary of TripAdvisor, Inc., executed 24 equity transactions coded "M" on May 1, 2026. These represent 44,010 shares tied to derivative exercises or conversions, a common mechanism for settling vested stock awards.
All transactions are categorized as acquisitions, with no sales, gifts, or tax-withholding dispositions. This suggests the activity is compensation-related rather than discretionary trading. A footnote explains that RSUs vest 25% on February 15, 2026 and 6.25% quarterly thereafter until fully vested on February 15, 2029, framing these exercises within a structured vesting schedule.
Insider Trade Summary
44,010 shares exercised/converted
Mixed
24 txns
Insider
Kalvert Seth J
Role
Chief Legal Officer & Sec.
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 3,161 | $0.00 | -- |
| Exercise | Restricted Stock Units | 2,601 | $0.00 | -- |
| Exercise | Restricted Stock Units | 5,239 | $0.00 | -- |
| Exercise | Restricted Stock Units | 3,162 | $0.00 | -- |
| Exercise | Restricted Stock Units | 2,601 | $0.00 | -- |
| Exercise | Restricted Stock Units | 5,240 | $0.00 | -- |
| Exercise | Restricted Stock Units | 3,161 | $0.00 | -- |
| Exercise | Restricted Stock Units | 2,601 | $0.00 | -- |
| Exercise | Restricted Stock Units | 5,240 | $0.00 | -- |
| Exercise | Restricted Stock Units | 3,162 | $0.00 | -- |
| Exercise | Restricted Stock Units | 2,602 | $0.00 | -- |
| Exercise | Restricted Stock Units | 5,240 | $0.00 | -- |
| Exercise | Common Stock | 3,161 | $11.13 | $35K |
| Exercise | Common Stock | 2,601 | $11.13 | $29K |
| Exercise | Common Stock | 5,239 | $11.13 | $58K |
| Exercise | Common Stock | 3,162 | $11.13 | $35K |
| Exercise | Common Stock | 2,601 | $11.13 | $29K |
| Exercise | Common Stock | 5,240 | $11.13 | $58K |
| Exercise | Common Stock | 3,161 | $11.13 | $35K |
| Exercise | Common Stock | 2,601 | $11.13 | $29K |
| Exercise | Common Stock | 5,240 | $11.13 | $58K |
| Exercise | Common Stock | 3,162 | $11.13 | $35K |
| Exercise | Common Stock | 2,602 | $11.13 | $29K |
| Exercise | Common Stock | 5,240 | $11.13 | $58K |
Holdings After Transaction:
Restricted Stock Units — 9,485 shares (Direct, null);
Common Stock — 178,700 shares (Direct, null)
Footnotes (1)
- [object Object]
Key Figures
Shares from derivative exercises: 44,010 shares
Total acquire-type transactions: 24 transactions
Exercise price example: $14.91 per share
+2 more
5 metrics
Shares from derivative exercises
44,010 shares
ExerciseShares across 12 derivative exercises on May 1, 2026
Total acquire-type transactions
24 transactions
All coded as acquisitions in transactionSummary
Exercise price example
$14.91 per share
Conversion or exercise price for certain RSU awards
Higher exercise price tranche
$27.03 per share
Conversion or exercise price for another RSU grant
Reported common stock transaction price
$11.13 per share
Price per share shown for common stock transactions coded M
Key Terms
Restricted Stock Units, RSUs, vesting, derivative exercise/conversion
4 terms
Restricted Stock Units financial
"security_title": "Restricted Stock Units""
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
RSUs financial
"25% of the total number of RSUs vest on February 15, 2026"
RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.
vesting financial
"25% of the total number of RSUs vest on February 15, 2026, and 6.25% will vest quarterly thereafter"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
derivative exercise/conversion financial
"transaction_action": "derivative exercise/conversion""
FAQ
What insider activity did TripAdvisor (TRIP) report for Seth J. Kalvert?
TripAdvisor reported that Chief Legal Officer & Secretary Seth J. Kalvert executed equity compensation transactions. He exercised or converted derivative securities into common stock across 24 transactions, all coded as acquisitions, reflecting settlement of stock-based awards rather than open-market buying or selling.
Were there any open-market sales in Seth Kalvert’s TripAdvisor (TRIP) Form 4?
No. The filing lists only transactions coded "M" for derivative exercise or conversion, all treated as acquisitions. There are no entries marked as sales, gifts, or tax-withholding dispositions, indicating this activity reflects equity award settlement, not discretionary selling into the market.
What equity instruments did TripAdvisor’s CLO exercise or convert on May 1, 2026?
Seth Kalvert’s Form 4 shows exercises of Restricted Stock Units and related derivative positions into common stock. The transactions are coded as derivative exercises or conversions, translating previously granted RSUs and similar awards into TripAdvisor common shares under his compensation program.
How do the TripAdvisor (TRIP) RSUs for Seth Kalvert vest over time?
A footnote explains that for at least one RSU award, 25% of the total RSUs vest on February 15, 2026. The remaining 75% vest at 6.25% each quarter, with the entire award becoming fully vested on February 15, 2029, creating a multi-year vesting schedule.