Every 8-K that MARRIOTT VACATIONS WORLDWIDE CORPORATION (VAC) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow VAC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full VAC filings page.
Marriott Vacations Worldwide Corporation reported solid second‑quarter 2026 results, with revenues of $1.32 billion and net income attributable to common stockholders of $77 million, or $2.12 per diluted share. Adjusted EBITDA was $215 million and adjusted diluted EPS was $2.31.
Vacation Ownership contract sales rose 22% year over year to $545 million, with VPG up 23% to $4,477 and segment adjusted EBITDA of $246 million. Exchange & Third‑Party Management generated $50 million of revenue and $22 million of segment adjusted EBITDA.
The company ended the quarter with $928 million of liquidity, $3.1 billion of corporate debt and a net corporate leverage ratio of 4.0 times. Full‑year 2026 guidance was raised, including contract sales of $2.08–$2.12 billion, adjusted EBITDA of $805–$830 million and adjusted free cash flow of $410–$460 million. Management also emphasized its website as a key channel for Regulation FD disclosures.
Marriott Vacations Worldwide Corporation entered into a new employment agreement with Executive Vice President and Chief Financial Officer Jason Marino, effective July 30, 2026. Under the agreement, Mr. Marino receives an annual base salary of at least $650,000 and is eligible for an annual cash bonus, with a 2026 target of 110% of base salary and a maximum of 220%. He will continue to receive long-term equity incentives under the 2020 Equity Incentive Plan and a performance-based CFO Transformation Award with a target of 37,500 and up to 75,000 restricted stock units.
If employment is terminated by the company without Cause, Disability or death outside a change in control, Mr. Marino is entitled to accrued amounts, a lump-sum cash severance equal to two times base salary plus target bonus, a prorated bonus for the year of termination, any unpaid prior-year bonus, and a payment equal to 24 months of COBRA premiums, subject to a release and restrictive covenants. In a qualifying termination in connection with a change in control or a termination for Good Reason, he receives similar cash severance and bonus benefits plus a payment equal to 24 times the aggregate monthly premiums for company-provided medical, dental and life coverage based on the higher of pre-change-in-control or termination-date costs.
The CFO Transformation Award vests 50% based on stock performance and 50% on Adjusted EBITDA during the January 1, 2026 to December 31, 2028 performance period. For the stock-price portion, payouts range from 0% below a $115 Highest Average Stock Price to 200% at $215 or more, with linear interpolation between levels, and potential additional vesting through June 30, 2029. For the Adjusted EBITDA portion, payouts range from 0% below $875,000,000 to 200% at $1,100,000,000 or more, also with linear interpolation. Mr. Marino remains an at-will employee, is subject to a two-year non-compete, and faces one-year restrictions on soliciting certain customers and employees.
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.
Marriott Vacations Worldwide Corporation reported results of its 2026 annual meeting of stockholders held on May 15, 2026. Stockholders approved the Second Amended and Restated 2020 Equity Incentive Plan, extending its term through May 15, 2036 and increasing shares available for equity awards by 2,500,000.
Changes also modify how awards are treated under the “golden parachute” tax rules of Internal Revenue Code Sections 280G and 4999 and add administrative clarifications. All nine director nominees were elected, Ernst & Young LLP was ratified as independent auditor, and executive compensation was approved on an advisory basis. Approximately 29,969,049 shares, about 87% of those entitled to vote, were represented at the meeting.
Marriott Vacations Worldwide reported weaker first quarter 2026 results while maintaining its full-year outlook. Revenue was $1.26 billion, up 5%, but net income attributable to common stockholders fell to $22 million, and diluted EPS declined to $0.64 from $1.46.
Adjusted metrics also softened: Adjusted net income was $43 million and Adjusted EBITDA was $161 million, both down versus 2025. Vacation ownership contract sales were $411 million, a 2% decline, as tours fell 3% but volume per guest inched higher. Segment margins compressed due to higher marketing, product, and maintenance costs.
The company reiterated its full-year 2026 Adjusted EBITDA guidance of $755 million to $780 million and raised contract sales guidance to $1.815 billion to $1.885 billion. Liquidity totaled $854 million, including $268 million of cash, against $3.3 billion of corporate debt and $2.3 billion of non‑recourse securitized debt.
Marriott Vacations Worldwide Corporation reported a senior leadership change involving its top legal executive. Executive Vice President, General Counsel and Secretary James H. Hunter, IV resigned from these roles at the Company’s request effective March 9, 2026 and will retire on April 1, 2026.
Under a separation agreement, Mr. Hunter will receive a $1,500,504 severance payment, equal to one and one-half times his 2026 base salary plus 2026 target bonus, while his outstanding equity awards will be treated according to their existing terms. He provided a general release of claims and agreed to restrictive covenants. The Company also furnished a press release highlighting his nearly 20 years of service and outlining his advisory role through April 1, 2026.
Marriott Vacations Worldwide reported a sharp GAAP loss for the fourth quarter and full year 2025, driven by large non-cash impairment charges, while underlying operations remained profitable on an adjusted basis and the company issued 2026 guidance.
For Q4 2025, consolidated contract sales were $458 million. Net loss attributable to common stockholders was $431 million, or -$12.43 per diluted share, largely reflecting $546 million of non-cash impairments plus restructuring and modernization costs. Adjusted net income was $68 million, or $1.86 per diluted share, and Adjusted EBITDA reached $186 million.
For full year 2025, consolidated contract sales were $1.8 billion. The company posted a GAAP net loss of $308 million, or -$8.84 per diluted share, compared with a prior-year profit, mainly due to $577 million of impairments. Adjusted net income was $276 million and Adjusted EBITDA was $751 million, both modestly above 2024 levels, and $171 million was returned to shareholders via dividends and buybacks.
Impairments included write-downs of inventory and future phases in North America, real estate held for disposition, and goodwill and intangibles related to the prior ILG acquisition. The company ended 2025 with $3.5 billion of corporate debt, $2.1 billion of non-recourse securitized debt, and total liquidity of $1.4 billion, including $406 million of cash. In January 2026 it repaid $575 million of maturing convertible debt and sold the Westin Resort & Spa in Cancun for $50 million.
For 2026, Marriott Vacations guided to contract sales of $1.745–$1.815 billion, Adjusted EBITDA of $755–$780 million, Adjusted diluted EPS of $7.05–$7.80, and Adjusted free cash flow of $375–$425 million. A reporting change that moves warehouse credit facility interest into consumer financing interest will reduce Adjusted EBITDA by $10–$15 million but will not affect GAAP net income, adjusted net income, or adjusted free cash flow.
Marriott Vacations Worldwide appointed Matthew E. Avril as permanent Chief Executive Officer and Michael A. Flaskey as President and Chief Operating Officer, both effective February 16, 2026. The company set aggressive, performance-based pay packages that link much of their compensation to share price and profit growth.
Avril will receive at least $1,100,000 in base salary with a target annual bonus of 150% and a maximum of 300% of salary for 2026 and 2027, plus stock appreciation rights, restricted stock units and a CEO Transformation Award targeting 150,000 and up to 300,000 restricted stock units. Flaskey will receive at least $1,000,000 in base salary, rising bonus targets of 125% in 2026 and 150% in 2027 (with 250% and 300% maximums), a 30,000-share grant and a similar Transformation Award.
Half of each Transformation Award vests on share price performance between $115 and $215 “Highest Average Stock Price” over a three-year period, and half on achieving “Highest Four-Quarter Adjusted EBITDA” goals between $875,000,000 and $1,100,000 or greater. Both leaders receive severance protections, non-compete and non-solicitation covenants, and eligibility for the company’s change-in-control severance plan.
Marriott Vacations Worldwide (VAC) announced that Brian E. Miller, President, Vacation Ownership, will retire from his position effective December 31, 2025. He will continue as an advisor to the President and CEO through March 27, 2026.
The company stated his retirement is not due to any disagreement regarding operations, policies, or practices. He is not receiving severance and is eligible to be considered an approved retiree under the 2020 Equity Incentive Plan. A related press release was furnished on November 11, 2025.
Marriott Vacations Worldwide (VAC) announced a leadership change. At the Board’s request, President and CEO John E. Geller, Jr. resigned effective November 10, 2025, and also left the Board. The Board reduced its size from twelve to eleven directors as of the same date.
Matthew E. Avril, a current director, was appointed Interim President and CEO effective upon Mr. Geller’s departure. Under a separation agreement, Mr. Geller will receive severance of $5 million plus a prorated 2025 bonus of $1,286,301, with his outstanding equity awards treated per existing terms. As interim CEO, Mr. Avril will receive a $1 million annual base salary and equity grants covering 100,000 stock appreciation rights and 50,000 restricted stock units, each vesting in full after the earlier of twelve months from grant or termination of his employment.
Marriott Vacations Worldwide (VAC) filed an 8-K stating it furnished a press release reporting financial results for the quarter ended September 30, 2025. The release is attached as Exhibit 99.1 and, under General Instruction B.2, the information in Item 2.02 is not deemed “filed.”
The company also plans to post a new investor presentation on November 6, 2025 in the Investor Relations – Events and Presentations section of its website (www.marriottvacationsworldwide.com). The company notes it uses its website to share information that may be deemed material under Regulation FD.
Marriott Vacations Worldwide, through its wholly owned subsidiary Marriott Ownership Resorts, Inc., entered into an Indenture and issued $575 million aggregate principal amount of 6.500% Senior Notes due October 1, 2033 in a private offering to institutional investors. The Notes pay interest at 6.500% per year, in cash, semi-annually on April 1 and October 1, starting April 1, 2026.
The company intends to use the net proceeds from the Notes, together with cash on hand, primarily to repay $575 million outstanding principal amount of 0.00% Convertible Senior Notes due January 15, 2026, and to pay related transaction fees and expenses. Until the 2026 convertible notes mature, the proceeds may be used to repay borrowings under the Revolving Credit Facility or be invested in cash equivalents.
The Notes are senior unsecured obligations, guaranteed on a senior unsecured basis by Marriott Vacations Worldwide and certain subsidiaries that guarantee its corporate credit facility, and are subject to customary redemption options, change-of-control repurchase provisions, covenants limiting additional indebtedness and restricted payments, and standard events of default.
Marriott Vacations Worldwide Corporation, through its wholly owned subsidiary Marriott Ownership Resorts, Inc., has priced a previously announced offering of $575 million aggregate principal amount of its 6.500% senior unsecured notes due 2033.
The company disclosed the pricing via a press release furnished as an exhibit, using a Regulation FD filing so all investors receive the information at the same time. Because the notes are senior and unsecured, they rank ahead of equity but are not backed by specific collateral.
The company also includes extensive cautionary language that many of its comments about growth, cost savings, 2025 performance outlook and business model strength are forward-looking statements and subject to numerous macroeconomic, operational, regulatory and geopolitical risks.
Marriott Vacations Worldwide Corporation reported that its wholly owned subsidiary, Marriott Ownership Resorts, Inc., intends, subject to market and other conditions, to offer $575 million aggregate principal amount of senior unsecured notes due 2033. The planned notes are described in a preliminary offering memorandum dated September 4, 2025, and the disclosure is being furnished under Regulation FD rather than filed for liability purposes. The communication emphasizes that it does not constitute an offer to buy or sell any securities and that any offer would only be made by a qualifying prospectus. The company also includes extensive forward-looking statement language covering expected growth, operational efficiencies, cost savings initiatives through the end of 2026, and its full-year 2025 outlook for contract sales, results of operations, and cash flows, while highlighting numerous macroeconomic, operational, and geopolitical risks.