Travel & Leisure Co. (TNL) director granted 488 deferred stock units

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Travel & Leisure Co. director Ronald L. Rickles reported a compensation-related stock award rather than a market purchase. On March 31, 2026, he acquired 488 shares of common stock at no cost, recorded as a grant. Footnotes describe these as deferred stock units issued for dividends, each convertible into one share after his retirement or termination of Board service. Following this award, the reported direct balance for this line item rose to 53,558 shares, and the filing also reflects 741 directly held shares tied to previously reported restricted stock units.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider RICKLES RONALD L

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	488	$0.00	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 53,558 shares (Direct)

Footnotes (1)

Deferred stock units issued for dividends. Each deferred stock unit entitles the reporting person to receive one share of common stock following the reporting person's retirement or termination of service from the Board of Directors. Includes previously reported deferred stock units. Previously reported restricted stock units.

Key Figures

Stock award: 488 shares Grant price: $0.00 per share Direct holdings after grant: 53,558 shares +1 more

4 metrics

Stock award 488 shares Grant of common stock on March 31, 2026

Grant price $0.00 per share Director award, non-market transaction

Direct holdings after grant 53,558 shares Total shares following transaction for main line

Additional direct holding 741 shares Previously reported restricted stock units line

Key Terms

Deferred stock units, restricted stock units, Grant, award, or other acquisition, Board of Directors

4 terms

Deferred stock units financial

"Deferred stock units issued for dividends. Each deferred stock unit entitles the reporting person to receive one share of common stock"

Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.

restricted stock units financial

"Previously reported restricted stock units."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

Board of Directors financial

"following the reporting person's retirement or termination of service from the Board of Directors."

The Board of Directors is a group of people chosen by a company's owners to help make big decisions and oversee how the company is run. They act like a team of advisors or managers, making sure the company stays on track and meets its goals. Their choices can influence the company's success and how it grows.

Form 4 Insider Transactions: What Each Field Means →

04/02/2026 - 09:39 PM

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^*

RICKLES RONALD L

(Last)

(First)

(Middle)

C/O TRAVEL + LEISURE CO.

501 WEST CHURCH STREET

(Street)

ORLANDO

FLORIDA

32805

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Travel & Leisure Co. [ TNL ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

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

X	Form filed by One Reporting Person
	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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/31/2026		A		488⁽¹⁾	A	$0	53,558⁽²⁾	D
Common Stock								741⁽³⁾	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Deferred stock units issued for dividends. Each deferred stock unit entitles the reporting person to receive one share of common stock following the reporting person's retirement or termination of service from the Board of Directors.

2. Includes previously reported deferred stock units.

3. Previously reported restricted stock units.

Remarks:

	/s/ Jeff J. Zanotti as Attorney-in-Fact for Ronald L. Rickles	04/02/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did TNL director Ronald Rickles report?

Ronald L. Rickles reported receiving 488 Travel & Leisure Co. common shares as a stock award, not a market purchase. The grant was recorded at $0.00 per share and increased his direct reported balance on that line to 53,558 shares of common stock.

Was the TNL Form 4 transaction a stock purchase or compensation grant?

The TNL Form 4 shows a compensation grant, not an open-market purchase. Code A identifies it as a grant or award acquisition of 488 common shares at no cost, classified as deferred stock units issued for dividends under the company’s director compensation structure.

How many Travel & Leisure Co. shares does Ronald Rickles now hold directly?

After the reported grant, one direct holding line for Ronald Rickles shows 53,558 common shares. A separate direct holding entry reports 741 shares linked to previously reported restricted stock units, giving investors a clearer picture of his equity-based Board compensation.

What are the deferred stock units mentioned in TNL’s Form 4 filing?

Deferred stock units are equity awards that track Travel & Leisure Co. common stock and are issued here for dividends. Each unit entitles Ronald Rickles to receive one share of common stock after he retires or leaves the Board, deferring actual share delivery until that time.

Do the TNL deferred stock units give immediate shares to the director?

The deferred stock units do not provide immediate share delivery. According to the filing, each unit converts into one Travel & Leisure Co. common share only after Ronald Rickles retires or his Board service terminates, aligning award settlement with his departure from the Board.