BUCKMAN JAMES E 4

What Happened

• James E. Buckman, a director of Travel & Leisure Co. (TNL), received an award of 3,880 deferred stock units on 2026-03-11. The units were granted at $0.00 per unit (no cash paid) as part of director compensation.
• This was an equity award (not an open-market purchase or sale); the reported dollar value at grant was $0 on the filing.

Key Details

• Transaction date: 2026-03-11; Form 4 filed: 2026-03-13 (filed within the typical two-business-day deadline).
• Grant type/code: A (award/acquisition) — 3,880 deferred stock units issued at $0.00.
• Shares owned after transaction: filing does not disclose a new total beneficial ownership; footnotes reference previously reported holdings.
• Footnotes of note:
  • F1: These are deferred stock units issued for retainer fees and an annual equity grant; each unit entitles the holder to one share of common stock upon retirement or termination from the board.
  • F2–F4: Refer to previously reported deferred stock units, restricted stock units, and shares of common stock.

Context

• Deferred stock units are a form of compensation that do not result in immediate stock ownership or sale; they typically convert into actual shares (or cash equivalent) only when the director leaves the board or under other specified conditions.
• Because no shares were sold or purchased on the open market and no cash changed hands, this filing reflects routine director compensation rather than a trading signal.