Udell David 4

What Happened
David Udell, Executive Vice President and Group President – ASPAC at Hyatt Hotels Corp (H), had vested restricted stock units (RSUs) settled into 2,033 shares of Class A common stock on March 16, 2026. The settlement shows four RSU tranches converting to shares (654, 503, 371, 505). The Form 4 reports the derivative conversion (transaction code M) and indicates $0 cash was exchanged on conversion (i.e., shares were issued on settlement, not sold for proceeds).

Key Details

• Transaction date: 2026-03-16 (reported on Form 4 filed 2026-03-18) — filing appears timely.
• Shares received: 2,033 total (654 + 503 + 371 + 505).
• Price / proceeds: Acquired entries show N/A; the conversion/disposal lines show $0 — this reflects RSU settlement, not a market sale.
• Footnote: F1 confirms each RSU converts to one share and this filing represents settlement of vested RSUs.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Insider status: Executive officer (not a 10% owner).

Context
Transaction code M indicates exercise/conversion of a derivative; here that means vested RSUs were converted into shares. Because no sale or cash proceeds are reported, this is a routine settlement of compensation awards rather than an insider purchase or sale that would reveal direct market sentiment.