Restricted stock award boosts Park Hotels (NYSE: PK) director stake
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
SADOVE STEPHEN I reported acquisition or exercise transactions in this Form 4 filing.
Park Hotels & Resorts Inc. director Stephen I. Sadove received an award of 13,839 shares of restricted common stock at no cash cost, granted under the company’s 2017 Stock Plan for Non-Employee Directors. The award compensates his Board service from April 24, 2026 through the company’s 2027 annual stockholder meeting.
These restricted shares will vest in full on April 30, 2027 or, if earlier, on the date of the 2027 annual meeting. Following the grant, Sadove directly holds 101,671 shares of common stock. In addition, 23,816 shares are held by the Sadove Family Delaware Dynasty Trust, in which he has a pecuniary interest, and 20,000 shares are held by the Stephen I. Sadove Revocable Trust, where he serves as trustee.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
SADOVE STEPHEN I
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 13,839 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 101,671 shares (Direct, null);
Common Stock — 20,000 shares (Indirect, By Family Trust)
Footnotes (1)
- Represents an award of restricted stock pursuant to the Issuer's 2017 Stock Plan for Non-Employee Directors (as amended and restated as of April 25, 2025) in connection with Mr. Sadove's service on the Issuer's Board of Directors for the period from April 24, 2026 through (and including) the date of the Issuer's 2027 annual meeting of stockholders. Such shares will vest in full on April 30, 2027 (or, if earlier, the date on which the Issuer's 2027 annual meeting of stockholders is held). Shares are held by the Sadove Family Delaware Dynasty Trust, of which the reporting person has a pecuniary interest. Shares are held by the Stephen I. Sadove Revocable Trust, of which the reporting person serves as the trustee.
Key Figures
Restricted stock award: 13,839 shares
Grant price: $0.0000 per share
Direct holdings after grant: 101,671 shares
+4 more
7 metrics
Restricted stock award
13,839 shares
Grant of restricted common stock to Stephen Sadove
Grant price
$0.0000 per share
Non-cash equity award under director stock plan
Direct holdings after grant
101,671 shares
Stephen Sadove direct Park Hotels common stock position
Dynasty Trust holdings
23,816 shares
Sadove Family Delaware Dynasty Trust position with pecuniary interest
Revocable Trust holdings
20,000 shares
Stephen I. Sadove Revocable Trust holdings
Vesting date
April 30, 2027
Restricted shares vest in full or earlier 2027 meeting date
Service period covered
April 24, 2026–2027 annual meeting
Board service period tied to the restricted stock award
Key Terms
restricted stock, 2017 Stock Plan for Non-Employee Directors, pecuniary interest, Revocable Trust
4 terms
restricted stock financial
"Represents an award of restricted stock pursuant to the Issuer's 2017 Stock Plan"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
2017 Stock Plan for Non-Employee Directors financial
"pursuant to the Issuer's 2017 Stock Plan for Non-Employee Directors (as amended and restated)"
pecuniary interest financial
"Sadove Family Delaware Dynasty Trust, of which the reporting person has a pecuniary interest"
Revocable Trust financial
"Stephen I. Sadove Revocable Trust, of which the reporting person serves as the trustee"
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
FAQ
What did Park Hotels & Resorts (PK) director Stephen Sadove report in this Form 4?
Stephen Sadove reported receiving 13,839 restricted shares of Park Hotels & Resorts common stock as a Board compensation award. The grant reflects non-cash equity given for his service as a non-employee director for the upcoming Board term through the 2027 annual meeting.
What plan governs the restricted stock granted to Park Hotels (PK) director Stephen Sadove?
The restricted stock award was granted under Park Hotels & Resorts’ 2017 Stock Plan for Non-Employee Directors, as amended and restated effective April 25, 2025. This plan provides equity-based compensation to outside directors instead of cash, aligning their interests with common stockholders.
How are Stephen Sadove’s indirect Park Hotels (PK) holdings structured?
Indirect Park Hotels holdings are split between two trusts: 23,816 shares in the Sadove Family Delaware Dynasty Trust, where he has a pecuniary interest, and 20,000 shares in the Stephen I. Sadove Revocable Trust, where he serves as trustee and therefore has authority over those shares.