MARSHALL KIMBERLY 4

What Happened Kimberly Marshall, Chief Human Resources Officer of Travel & Leisure Co. (TNL), had 5,757 restricted stock units (RSUs) vest on March 15, 2026. No cash was paid to acquire those shares (award/vesting). To cover the tax liability from the vesting, 2,266 shares were withheld at $68.53 per share, a withholding value of $155,289. The net number of shares delivered to Marshall after withholding was 3,491 (5,757 vested − 2,266 withheld). This was an award/vesting event and a routine tax-withholding disposition, not an open-market sale or purchase.

Key Details

• Transaction date: 2026-03-15; Form 4 filed: 2026-03-16 (timely).
• Award: 5,757 shares credited on vesting (code A); acquisition price $0.00 (RSU vesting).
• Withholding: 2,266 shares withheld for taxes (code F) at $68.53 = $155,289.
• Net shares delivered to insider: 3,491 (5,757 − 2,266).
• Shares owned after the transaction: not specified in this filing (filing notes include previously reported shares).
• Footnotes: RSUs were previously granted and vested (F1, F4); shares withheld to satisfy tax obligation (F3); filing includes previously reported common stock (F2).

Context RSU vesting converts granted units into actual shares; withholding shares to cover taxes is common and should not be interpreted as a market sale or a direct signal of the insider's view on the stock. This report reflects routine compensation vesting and tax withholding rather than a discretionary trade.