Impactive Capital cuts Marriott Vacations (NYSE: VAC) stake in August insider sale

Rhea-AI Filing Summary

MARRIOTT VACATIONS WORLDWIDE Corp (VAC) had a significant insider-related sale reported involving funds managed by Impactive Capital. On August 19, 2026, entities associated with Impactive Capital sold 750,000 shares of common stock at $111.49 per share in an open market or private transaction.

After this transaction, the reporting group shows 3,380,818 shares held indirectly. The securities are held directly by certain Impactive-managed funds and accounts, which have delegated all voting and investment power to Impactive Capital under an Investment Management Agreement. The reporting persons and the Impactive Funds each disclaim beneficial ownership except to the extent of their pecuniary interests.

Insider Trade Summary

Net Seller: 750,000 shares

Net Sell 1 txn

Insider Asmar Christian, Impactive Capital LP, Impactive Capital LLC, Wolfe Lauren Taylor

Role Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director, 10% Owner

Sold 750,000 shs ($83.62M)

Type	Security	Shares	Price	Value
Sale	Common Stock, par value $0.01 per share F1, F2	750,000	$111.49	$83.62M

Holdings After Transaction: Common Stock, par value $0.01 per share — 3,380,818 shares (Indirect, See footnote)

Footnotes (2)

1. F1. This Form 4 is filed jointly by Impactive Capital LP ("Impactive Capital"), Impactive Capital LLC ("Impactive GP"), Christian Asmar and Lauren Taylor Wolfe (collectively, the "Reporting Persons"). Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of her, his or its pecuniary interest therein.
2. F2. The securities of Marriott Vacations Worldwide Corporation (the "Issuer") reported herein are held directly by certain funds and/or accounts (the "Impactive Funds"). Pursuant to an Investment Management Agreement, the Impactive Funds have delegated all voting and investment power over the securities directly held by the Impactive Funds and their general partners to Impactive Capital, which serves as the investment manager of the Impactive Funds. Impactive GP, as the general partner of Impactive Capital, and each of Mr. Asmar and Ms. Taylor Wolfe, as Managing Members of Impactive GP, may be deemed to exercise voting and investment power over such securities. The Impactive Funds specifically disclaim beneficial ownership of such securities by virtue of their inability to vote or dispose of such securities as a result of such delegation to Impactive Capital.

Key Figures

Shares sold: 750,000 shares Sale price per share: $111.49 per share Shares held after transaction: 3,380,818 shares

3 metrics

Shares sold 750,000 shares Non-derivative common stock sale on August 19, 2026

Sale price per share $111.49 per share Price for the 750,000 VAC shares sold

Shares held after transaction 3,380,818 shares Indirect holdings reported following the sale

Key Terms

beneficial ownership, pecuniary interest, Investment Management Agreement, voting and investment power

4 terms

beneficial ownership financial

"Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"except to the extent of her, his or its pecuniary interest therein"

Investment Management Agreement financial

"Pursuant to an Investment Management Agreement, the Impactive Funds have delegated all voting"

An investment management agreement is a written contract that hires a professional to make buying, selling and strategy decisions for an investment account or fund, and sets out their duties, fees, risk limits, performance measures and reporting requirements. It matters to investors because the agreement determines who controls the money, how much the service costs, what risks are allowed, and how success or failure is measured—think of it as the service contract that defines expectations and remedies for a hired portfolio manager.

voting and investment power financial

"delegated all voting and investment power over the securities directly held"

FAQ

What insider transaction was reported for VAC in this Form 4?

The filing reports a sale of 750,000 VAC common shares on August 19, 2026 at $111.49 per share. The sale was reported as an indirect transaction by entities associated with Impactive Capital that manage funds holding Marriott Vacations Worldwide Corp stock.

Who are the reporting persons in this VAC Form 4 filing?

The reporting persons are Impactive Capital LP, Impactive Capital LLC, Christian Asmar, and Lauren Taylor Wolfe. They are treated as directors and ten percent owners by deputization through board representation and their roles with the Impactive-managed funds holding VAC shares.

How many VAC shares do the reporting persons indicate holding after the sale?

After the reported sale, the filing shows 3,380,818 VAC common shares held indirectly. These shares are held directly by certain Impactive Funds, which have delegated all voting and investment power over the securities to Impactive Capital under an Investment Management Agreement.

Are the VAC shares in this Form 4 held directly by the individuals named?

No. The VAC shares are held directly by certain Impactive Funds and accounts. Voting and investment power has been delegated to Impactive Capital, and the funds, Impactive entities, and individuals specifically disclaim beneficial ownership except for their pecuniary interests.

Was the VAC share sale made under a Rule 10b5-1 trading plan?

The filing indicates the Rule 10b5-1 checkbox is not checked, and there is no footnote stating a trading plan. This means the transaction is not affirmatively identified as being executed under a pre-arranged Rule 10b5-1 trading plan.

What type of security was sold in the VAC Form 4 transaction?

The transaction involved Common Stock, par value $0.01 per share of Marriott Vacations Worldwide Corp. It was reported as a non-derivative security transaction, meaning it did not involve options, warrants, or other derivative instruments, only the common shares themselves.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/20/2026 - 03:04 PM Accepted by SEC EDGAR 08/20/2026 - 03:03 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^*

Asmar Christian

(Last) (First) (Middle)

450 WEST 14TH STREET, 12TH FLOOR

(Street)

NEW YORK CITY NEW YORK 10014

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
MARRIOTT VACATIONS WORLDWIDE Corp [ VAC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/19/2026

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

	Form filed by One Reporting Person
X	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, par value $0.01 per share(1)	08/19/2026		S		750,000	D	$111.49	3,380,818	I	See footnote(2)

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

1. Name and Address of Reporting Person^*

Asmar Christian

(Last) (First) (Middle)

450 WEST 14TH STREET, 12TH FLOOR

(Street)

NEW YORK CITY NEW YORK 10014

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Impactive Capital LP

(Last) (First) (Middle)

450 WEST 14TH STREET, 12TH FLOOR

(Street)

NEW YORK CITY NEW YORK 10014

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Impactive Capital LLC

(Last) (First) (Middle)

450 WEST 14TH STREET, 12TH FLOOR

(Street)

NEW YORK CITY NEW YORK 10014

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Wolfe Lauren Taylor

(Last) (First) (Middle)

450 WEST 14TH STREET, 12TH FLOOR

(Street)

NEW YORK CITY NEW YORK 10014

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. This Form 4 is filed jointly by Impactive Capital LP ("Impactive Capital"), Impactive Capital LLC ("Impactive GP"), Christian Asmar and Lauren Taylor Wolfe (collectively, the "Reporting Persons"). Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of her, his or its pecuniary interest therein.

2. The securities of Marriott Vacations Worldwide Corporation (the "Issuer") reported herein are held directly by certain funds and/or accounts (the "Impactive Funds"). Pursuant to an Investment Management Agreement, the Impactive Funds have delegated all voting and investment power over the securities directly held by the Impactive Funds and their general partners to Impactive Capital, which serves as the investment manager of the Impactive Funds. Impactive GP, as the general partner of Impactive Capital, and each of Mr. Asmar and Ms. Taylor Wolfe, as Managing Members of Impactive GP, may be deemed to exercise voting and investment power over such securities. The Impactive Funds specifically disclaim beneficial ownership of such securities by virtue of their inability to vote or dispose of such securities as a result of such delegation to Impactive Capital.

Remarks:

Christian Asmar, Managing Member of Impactive Capital LLC, the general partner of Impactive Capital LP, is a director of the Issuer. For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, the Reporting Persons are deemed directors by deputization by virtue of their representation on the Board of Directors of the Issuer.

	IMPACTIVE CAPITAL LP, By: Impactive Capital LLC, its general partner, By: /s/ Christian Asmar, Managing Member	08/20/2026
	IMPACTIVE CAPITAL LLC, By: /s/ Christian Asmar, Managing Member	08/20/2026
	/s/ Christian Asmar	08/20/2026
	/s/ Lauren Taylor Wolfe	08/20/2026
	** 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)