Marriott Vacations to eliminate EVP brand and digital role

Rhea-AI Filing Summary

Marriott Vacations Worldwide Corporation is conducting an internal reorganization under which, effective July 31, 2026, the position of Executive Vice President and Chief Brand and Digital Officer will be eliminated and Lori Gustafson will separate from the company.

Lori Gustafson has entered into a Separation Agreement that provides a cash severance payment of $1,425,000, representing one and one-half times her 2026 base salary plus 2026 target bonus, with eligibility for an additional payment based on Marriott Vacations Worldwide’s actual performance in 2026. Her outstanding restricted stock units, performance shares and stock appreciation rights will be treated generally consistent with their existing terms. All benefits are contingent on her providing a general release of claims and complying with specified restrictive covenants.

8-K Event Classification

2 items: 5.02, 9.01

2 items

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Severance payment: $1,425,000 Severance multiple: one and one-half times 2026 base salary plus 2026 target bonus Effective separation date: July 31, 2026

3 metrics

Severance payment $1,425,000 Cash severance for Lori Gustafson under the Separation Agreement

Severance multiple one and one-half times 2026 base salary plus 2026 target bonus Basis for calculating Lori Gustafson’s severance amount

Effective separation date July 31, 2026 Date the EVP and Chief Brand and Digital Officer position is eliminated

Key Terms

internal reorganization, Separation Agreement and General Release of Claims, restricted stock units, performance shares, +2 more

6 terms

internal reorganization financial

"In connection with an internal reorganization, effective July 31, 2026"

Separation Agreement and General Release of Claims regulatory

"10.1 | Separation Agreement and General Release of Claims"

restricted stock units financial

"Ms. Gustafson’s outstanding restricted stock units, performance shares"

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.

performance shares financial

"outstanding restricted stock units, performance shares and stock appreciation rights"

Performance shares are a type of company stock given to executives or employees that only become theirs if the company meets specific goals, like hitting certain profits or growth targets. They motivate leaders to work toward the company’s success, because their additional shares depend on achieving these results.

stock appreciation rights financial

"performance shares and stock appreciation rights will be treated"

Stock appreciation rights (SARs) are a form of employee compensation that give the holder the right to receive the increase in a company's stock price over a set baseline, paid in cash or shares, without having to buy the stock. For investors, SARs matter because they can create future cash outflows or share dilution and signal how a company rewards and motivates executives — similar to giving a bonus tied directly to how well the company’s stock performs.

restrictive covenants regulatory

"agreement to comply with certain restrictive covenants"

Restrictive covenants are contract terms that limit what a company, its executives, or shareholders can do—like rules that prohibit selling stock, starting a rival business, or taking on certain debts. Think of them as house rules that protect one party’s interests by keeping risky or competitive actions off the table. For investors they matter because these limits affect a company’s flexibility, governance, potential future value and the ease of exiting an investment.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What executive leadership change did Marriott Vacations Worldwide (VAC) announce?

Marriott Vacations Worldwide announced that, as part of an internal reorganization, the role of Executive Vice President and Chief Brand and Digital Officer is being eliminated effective July 31, 2026, and Lori Gustafson will separate from the company in connection with this change.

What severance will Lori Gustafson receive from Marriott Vacations Worldwide (VAC)?

Under a Separation Agreement, Lori Gustafson will receive a $1,425,000 severance payment. This amount represents one and one-half times her 2026 base salary plus 2026 target bonus, subject to conditions including a general release of claims and compliance with restrictive covenants.

Is Lori Gustafson eligible for additional payments from Marriott Vacations Worldwide (VAC)?

Yes. In addition to the $1,425,000 severance, Lori Gustafson is eligible to receive an additional payment that depends on Marriott Vacations Worldwide’s actual performance in 2026, linking part of her separation compensation to the company’s results for that year.

How will Lori Gustafson’s equity awards be treated at Marriott Vacations Worldwide (VAC)?

Lori Gustafson’s outstanding restricted stock units, performance shares and stock appreciation rights will be treated in a manner generally consistent with their existing terms, meaning the separation does not introduce special equity treatment beyond what those award agreements already provide.

What conditions must Lori Gustafson meet to receive benefits from Marriott Vacations Worldwide (VAC)?

Her severance and related benefits are contingent on signing a general release of claims in favor of Marriott Vacations Worldwide and agreeing to comply with specified restrictive covenants, which typically govern post-employment conduct such as competition or solicitation.

Where can investors find the full details of the Marriott Vacations Worldwide (VAC) Separation Agreement?

The full form of the Separation Agreement and General Release of Claims is filed as Exhibit 10.1, providing complete legal terms and conditions governing Lori Gustafson’s separation payments, equity treatment and ongoing obligations.

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

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Available on EDGAR 07/21/2026 - 08:00 AM Accepted by SEC EDGAR 07/21/2026 - 08:00 AM Learn about SEC filing dates

0001524358false00015243582026-07-212026-07-21

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________________

FORM 8-K

_________________________

Current Report

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) July 21, 2026

_________________________

Marriott Vacations Worldwide Corporation

(Exact name of registrant as specified in its charter)

 _________________________

Delaware

001-35219

45-2598330

(State or other jurisdiction

(Commission

(IRS Employer

of incorporation)

File Number)

Identification No.)

7812 Palm Parkway

Orlando,

FL

32836

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code (407) 206-6000

N/A

(Former name or former address, if changed since last report)

_________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common Stock, $0.01 Par Value			VAC			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

In connection with an internal reorganization, effective July 31, 2026, the position of Executive Vice President and Chief Brand and Digital Officer is being eliminated, and accordingly, Lori Gustafson will separate from the Company.

Ms. Gustafson entered into a separation agreement with the Company in connection with her separation from service with the Company (the “Separation Agreement”). The Separation Agreement provides for, among other things, a severance payment of $1,425,000, representing one and one-half times Ms. Gustafson’s 2026 base salary plus 2026 target bonus. Ms. Gustafson is also eligible to receive an additional payment depending on MVW’s actual performance in 2026. Ms. Gustafson’s outstanding restricted stock units, performance shares and stock appreciation rights will be treated in a manner generally consistent with their existing terms. These benefits are contingent upon a general release of claims by Ms. Gustafson in favor of the Company, and Ms. Gustafson’s agreement to comply with certain restrictive covenants. The foregoing description of the Separation Agreement is qualified in its entirety by reference to the full text of the form of Separation Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) The following exhibits are being furnished herewith: 

Exhibit Number						Description
10.1						Separation Agreement and General Release of Claims
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

						MARRIOTT VACATIONS WORLDWIDE CORPORATION
						(Registrant)
Dated:			July 21, 2026			By:			/s/ Jason P. Marino
						Name:			Jason P. Marino
						Title:			Executive Vice President and Chief Financial Officer

1

Filing Exhibits & Attachments

4 documents

Agreements & Contracts

• EX-10.1 EX-10.1 97.2 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.9 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 21.4 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 12.4 KB