Marriott Vacations Worldwide C SEC Filings

Marriott Vacations Worldwide Corporation director and 10% owner Christian Asmar, together with Impactive Capital LP, Impactive Capital LLC and Lauren Taylor Wolfe, reported a joint Form 4 for a non‑derivative acquisition on 09/16/2025. The filing discloses issuance of 356 shares of common stock under the companys 2020 Equity Incentive Plan in lieu of board fees; those shares were fully vested at grant and issued at no cash price. Following the transaction, the Reporting Persons disclose an aggregate indirect beneficial ownership of 4,046,340 shares, held by funds/accounts managed by Impactive Capital. The report clarifies delegation of voting and investment power to Impactive Capital and includes disclaimers of direct beneficial ownership by the funds and by Mr. Asmar.

Jonice M. Gray, a director of Marriott Vacations Worldwide Corporation (VAC), received 389 shares of common stock on 09/16/2025 under the company’s 2020 Equity Incentive Plan as payment deferral for board fees. The shares were fully vested at grant and were issued at no cash price to the reporting person. After the issuance, the reporting person beneficially owned 11,971 shares. The Form 4 was filed as a single reporting-person filing and executed by an attorney-in-fact on 09/17/2025.

Form 4 snapshot: On 20 June 2025, Impactive Capital LP, its general partner Impactive Capital LLC, and managing members Christian Asmar and Lauren Taylor Wolfe jointly reported open-market purchases of Marriott Vacations Worldwide Corporation (VAC) common stock. All four reporting persons are identified as both Directors and >10 % owners of VAC.

Transaction details (Table I):

• 17 Jun 2025 – Purchase (P) of 412,449 shares at $67.605 per share.
• 18 Jun 2025 – Purchase (P) of 337,551 shares at $68.1082 per share.

Ownership impact: Following the two trades, the group’s indirect beneficial holding rose from 3,295,984 to 4,045,984 shares, an approximate 23 % increase. The shares are held by certain Impactive funds that have delegated all voting and investment authority to Impactive Capital.

Governance context: Because Christian Asmar serves on VAC’s board—and the reporting persons are considered “directors by deputization”—the purchases are notable insider transactions. Each filer disclaims beneficial ownership beyond their pecuniary interest.

Signatures & timing: The Form 4 is dated 20 Jun 2025, covering trades made 17-18 Jun 2025. Signatures from both Asmar and Wolfe confirm the filing.

Impactive Capital LP and related entities have filed Amendment No. 3 to their Schedule 13D on Marriott Vacations Worldwide (VAC), disclosing an 11.7% economic stake, or 4,045,984 common shares. The shares were accumulated in open-market purchases using working capital, at a total cost of approximately $343.9 million. Voting and dispositive authority over the entire position is held on a shared basis by Impactive Capital LP, Impactive Capital GP, and the firm’s co-founders Lauren Taylor Wolfe and Christian Asmar; none of the parties reports sole authority. The ownership calculation is based on 34,535,278 VAC shares outstanding as of 5 May 2025, per the company’s latest Form 10-Q.

The filing confirms that no additional transactions have occurred since the prior amendment other than those summarised in Exhibit 1. Although the amendment does not outline specific strategic intentions, an activist holding above 10% typically positions the investor to influence corporate strategy, board composition, capital allocation or M&A activity. Impactive’s sizeable purchase price and rapid accumulation signal a potentially active engagement with management. The filing contains no references to litigation, regulatory matters or financing contingencies.

Key data for investors:

• Stake size: 4.0 million shares (11.7% of outstanding).
• Acquisition cost: ~$343.9 million (avg. cost ≈ $85/share).
• Control: 100% of voting and dispositive power is shared among the reporting group.
• Event date triggering filing: 17 June 2025; signatures dated 20 June 2025.

The entry of a well-known activist fund with a double-digit ownership interest is likely to elevate investor focus on VAC’s strategic options and could serve as a catalyst for share-price re-rating.