[Form 4/A] Travel + Leisure Co. Amended Insider Trading Activity
Travel + Leisure Co. (TNL) filed an amended Form 4 for Chief Human Resources Officer Kimberly Marshall covering equity events on 03/10/2024. The sole purpose of the 4/A is to change the transaction code for 4,953 shares from 鈥淪鈥� (sale) to 鈥淔,鈥� clarifying that those shares were withheld to cover taxes rather than sold.
Key share movements
- 19,095 common shares acquired at $0 upon vesting of restricted stock units (RSUs) and performance share units (PSUs).
- 4,953 shares withheld at $45.24 for tax obligations (code 鈥淔鈥�).
- Net increase: 14,142 shares.
The activity reflects routine incentive-plan vesting rather than open-market trading; therefore, it has limited immediate impact on valuation but modestly strengthens management-shareholder alignment.
Travel + Leisure Co. (TNL) ha presentato un modulo 4 modificato per la Chief Human Resources Officer Kimberly Marshall relativo a eventi azionari del 10/03/2024. Lo scopo unico del 4/A 猫 correggere il codice della transazione per 4.953 azioni da 鈥淪鈥� (vendita) a 鈥淔,鈥� chiarendo che tali azioni sono state trattenute per coprire tasse e non vendute.
Movimenti chiave delle azioni
- 19.095 azioni ordinarie acquisite a $0 al momento della maturazione di unit脿 azionarie vincolate (RSU) e unit脿 azionarie a performance (PSU).
- 4.953 azioni trattenute a $45,24 per obblighi fiscali (codice 鈥淔鈥�).
- Aumento netto: 14.142 azioni.
L鈥檃ttivit脿 riflette la maturazione ordinaria di piani incentivanti e non operazioni di mercato aperto; pertanto, ha un impatto immediato limitato sulla valutazione ma rafforza moderatamente l鈥檃llineamento tra management e azionisti.
Travel + Leisure Co. (TNL) present贸 un Formulario 4 enmendado para la Directora de Recursos Humanos Kimberly Marshall que cubre eventos de acciones del 10/03/2024. El 煤nico prop贸sito del 4/A es cambiar el c贸digo de transacci贸n para 4,953 acciones de 鈥淪鈥� (venta) a 鈥淔,鈥� aclarando que esas acciones fueron retenidas para cubrir impuestos en lugar de vendidas.
Movimientos clave de acciones
- 19,095 acciones comunes adquiridas a $0 al consolidarse unidades de acciones restringidas (RSU) y unidades de acciones por desempe帽o (PSU).
- 4,953 acciones retenidas a $45.24 para obligaciones fiscales (c贸digo 鈥淔鈥�).
- Aumento neto: 14,142 acciones.
La actividad refleja la consolidaci贸n rutinaria de planes de incentivos m谩s que operaciones en mercado abierto; por lo tanto, tiene un impacto inmediato limitado en la valoraci贸n pero fortalece modestamente la alineaci贸n entre la direcci贸n y los accionistas.
Travel + Leisure Co. (TNL)鞚� 斓滉碃鞚胳偓毂呾瀯鞛�(CRO) Kimberly Marshall鞚� 2024雲� 3鞗� 10鞚检瀽 欤检嫕 甏�霠� 靷暛鞚� 氚橃榿頃� 靾橃爼霅� Form 4毳� 鞝滌稖頄堨姷雼堧嫟. 4/A鞚� 鞙犾澕頃� 氇╈爜鞚� 4,953欤检潣 瓯半灅 旖旊摐毳� 鈥淪鈥�(毵る弰)鞐愳劀 鈥淔鈥濍 氤�瓴巾晿鞐� 頃措嫻 欤检嫕鞚� 靹戈笀 雮╇秬毳� 鞙勴暣 鞗愳矞歆曥垬霅� 瓴�鞛勳潉 氇呿檿頌� 頃橂姅 瓴冹瀰雼堧嫟.
欤检殧 欤检嫕 氤�霃� 靷暛
- 19,095欤检潣 氤错喌欤缄皜 鞝滍暅 欤检嫕 雼渼(RSU) 氚� 靹标臣 欤检嫕 雼渼(PSU)鞚� 氩犾姢韺呾溂搿� 鞚疙暣 $0鞐� 旆摑霅橃棃鞀惦媹雼�.
- 4,953欤茧姅 靹戈笀 雮╇秬毳� 鞙勴暣 $45.24鞐� 鞗愳矞歆曥垬霅橃棃鞀惦媹雼�(旖旊摐 鈥淔鈥�).
- 靾� 歃濌皜: 14,142欤�.
鞚措矆 頇滊彊鞚� 瓿店皽 鞁滌灔 瓯半灅臧� 鞎勲媽 鞚胳劶韹半笇 頂岆灉鞚� 鞝曣赴 氩犾姢韺呾潉 氚橃榿頃橂┌, 歃夑皝鞝侅澑 臧�旃� 韽夑皜鞐愲姅 鞝滍暅鞝侅澑 鞓來枼鞚� 氙胳箻歆�毵� 瓴届榿歆勱臣 欤检＜ 臧勳潣 鞝曤牞鞚� 雼れ唽 臧曧檾頃╇媹雼�.
Travel + Leisure Co. (TNL) a d茅pos茅 un formulaire 4 modifi茅 pour la Directrice des Ressources Humaines Kimberly Marshall concernant des 茅v茅nements d鈥檃ctions au 10/03/2024. Le seul but du 4/A est de changer le code de transaction pour 4 953 actions de 芦 S 禄 (vente) 脿 芦 F 禄, pr茅cisant que ces actions ont 茅t茅 retenues pour couvrir des imp么ts et non vendues.
Mouvements cl茅s des actions
- 19 095 actions ordinaires acquises 脿 0 $ lors de l鈥檃cquisition de Restricted Stock Units (RSU) et Performance Share Units (PSU).
- 4 953 actions retenues 脿 45,24 $ pour obligations fiscales (code 芦 F 禄).
- Augmentation nette : 14 142 actions.
Cette activit茅 refl猫te un vesting habituel dans le cadre d鈥檜n plan d鈥檌ncitation plut么t qu鈥檜ne op茅ration sur le march茅 ouvert ; elle a donc un impact imm茅diat limit茅 sur la valorisation mais renforce modestement l鈥檃lignement entre la direction et les actionnaires.
Travel + Leisure Co. (TNL) hat f眉r die Chief Human Resources Officer Kimberly Marshall ein ge盲ndertes Formular 4 eingereicht, das Aktienereignisse vom 10.03.2024 abdeckt. Der einzige Zweck des 4/A besteht darin, den Transaktionscode f眉r 4.953 Aktien von 鈥濻鈥� (Verkauf) auf 鈥濬鈥� zu 盲ndern und damit klarzustellen, dass diese Aktien zur Steuerabdeckung einbehalten und nicht verkauft wurden.
Wichtige Aktienbewegungen
- 19.095 Stammaktien wurden beim Vesting von Restricted Stock Units (RSUs) und Performance Share Units (PSUs) zum Preis von $0 erworben.
- 4.953 Aktien wurden zum Preis von $45,24 zur Steuerabdeckung einbehalten (Code 鈥濬鈥�).
- Nettozunahme: 14.142 Aktien.
Die Aktivit盲t spiegelt eine routinem盲脽ige Vesting von Anreizpl盲nen wider und keine offenen Markttransaktionen; daher hat sie eine begrenzte unmittelbare Auswirkung auf die Bewertung, st盲rkt jedoch moderat die Ausrichtung zwischen Management und Aktion盲ren.
- Net addition of 14,142 shares to insider鈥檚 direct holdings, modestly increasing management-stockholder alignment.
- Prompt amendment corrects misclassified transaction, indicating strong disclosure controls.
- No open-market purchase; shares came from vesting, so signal value for investors is limited.
- Tax-withholding disposal of 4,953 shares slightly offsets the gross award.
Insights
TL;DR: Routine RSU vesting; net 14k shares added, minimal valuation impact.
This 4/A simply corrects coding for tax-withholding. Because the acquisition stems from previously granted equity, there is no cash purchase signal and no dilution. Marshall鈥檚 direct stake rises to roughly 0.07% of outstanding shares, a small but positive alignment indicator. The withholding at $45.24 implies an internal tax valuation slightly below current market levels, yet offers little price insight. Overall, administrative and neutral for the investment thesis.
TL;DR: Filing corrects clerical error; reinforces transparency, negligible governance risk.
Amending the code from 鈥淪鈥� to 鈥淔鈥� removes any perception of discretionary selling by the CHRO. Accurate reporting upholds Section 16 compliance and avoids misleading sale signals. The automatic share withholding is standard practice under Rule 16b-3 and does not constitute insider trading. Governance takeaway: disclosure controls appear effective; insider holdings remain comfortably aligned with shareholder interests.
Travel + Leisure Co. (TNL) ha presentato un modulo 4 modificato per la Chief Human Resources Officer Kimberly Marshall relativo a eventi azionari del 10/03/2024. Lo scopo unico del 4/A 猫 correggere il codice della transazione per 4.953 azioni da 鈥淪鈥� (vendita) a 鈥淔,鈥� chiarendo che tali azioni sono state trattenute per coprire tasse e non vendute.
Movimenti chiave delle azioni
- 19.095 azioni ordinarie acquisite a $0 al momento della maturazione di unit脿 azionarie vincolate (RSU) e unit脿 azionarie a performance (PSU).
- 4.953 azioni trattenute a $45,24 per obblighi fiscali (codice 鈥淔鈥�).
- Aumento netto: 14.142 azioni.
L鈥檃ttivit脿 riflette la maturazione ordinaria di piani incentivanti e non operazioni di mercato aperto; pertanto, ha un impatto immediato limitato sulla valutazione ma rafforza moderatamente l鈥檃llineamento tra management e azionisti.
Travel + Leisure Co. (TNL) present贸 un Formulario 4 enmendado para la Directora de Recursos Humanos Kimberly Marshall que cubre eventos de acciones del 10/03/2024. El 煤nico prop贸sito del 4/A es cambiar el c贸digo de transacci贸n para 4,953 acciones de 鈥淪鈥� (venta) a 鈥淔,鈥� aclarando que esas acciones fueron retenidas para cubrir impuestos en lugar de vendidas.
Movimientos clave de acciones
- 19,095 acciones comunes adquiridas a $0 al consolidarse unidades de acciones restringidas (RSU) y unidades de acciones por desempe帽o (PSU).
- 4,953 acciones retenidas a $45.24 para obligaciones fiscales (c贸digo 鈥淔鈥�).
- Aumento neto: 14,142 acciones.
La actividad refleja la consolidaci贸n rutinaria de planes de incentivos m谩s que operaciones en mercado abierto; por lo tanto, tiene un impacto inmediato limitado en la valoraci贸n pero fortalece modestamente la alineaci贸n entre la direcci贸n y los accionistas.
Travel + Leisure Co. (TNL)鞚� 斓滉碃鞚胳偓毂呾瀯鞛�(CRO) Kimberly Marshall鞚� 2024雲� 3鞗� 10鞚检瀽 欤检嫕 甏�霠� 靷暛鞚� 氚橃榿頃� 靾橃爼霅� Form 4毳� 鞝滌稖頄堨姷雼堧嫟. 4/A鞚� 鞙犾澕頃� 氇╈爜鞚� 4,953欤检潣 瓯半灅 旖旊摐毳� 鈥淪鈥�(毵る弰)鞐愳劀 鈥淔鈥濍 氤�瓴巾晿鞐� 頃措嫻 欤检嫕鞚� 靹戈笀 雮╇秬毳� 鞙勴暣 鞗愳矞歆曥垬霅� 瓴�鞛勳潉 氇呿檿頌� 頃橂姅 瓴冹瀰雼堧嫟.
欤检殧 欤检嫕 氤�霃� 靷暛
- 19,095欤检潣 氤错喌欤缄皜 鞝滍暅 欤检嫕 雼渼(RSU) 氚� 靹标臣 欤检嫕 雼渼(PSU)鞚� 氩犾姢韺呾溂搿� 鞚疙暣 $0鞐� 旆摑霅橃棃鞀惦媹雼�.
- 4,953欤茧姅 靹戈笀 雮╇秬毳� 鞙勴暣 $45.24鞐� 鞗愳矞歆曥垬霅橃棃鞀惦媹雼�(旖旊摐 鈥淔鈥�).
- 靾� 歃濌皜: 14,142欤�.
鞚措矆 頇滊彊鞚� 瓿店皽 鞁滌灔 瓯半灅臧� 鞎勲媽 鞚胳劶韹半笇 頂岆灉鞚� 鞝曣赴 氩犾姢韺呾潉 氚橃榿頃橂┌, 歃夑皝鞝侅澑 臧�旃� 韽夑皜鞐愲姅 鞝滍暅鞝侅澑 鞓來枼鞚� 氙胳箻歆�毵� 瓴届榿歆勱臣 欤检＜ 臧勳潣 鞝曤牞鞚� 雼れ唽 臧曧檾頃╇媹雼�.
Travel + Leisure Co. (TNL) a d茅pos茅 un formulaire 4 modifi茅 pour la Directrice des Ressources Humaines Kimberly Marshall concernant des 茅v茅nements d鈥檃ctions au 10/03/2024. Le seul but du 4/A est de changer le code de transaction pour 4 953 actions de 芦 S 禄 (vente) 脿 芦 F 禄, pr茅cisant que ces actions ont 茅t茅 retenues pour couvrir des imp么ts et non vendues.
Mouvements cl茅s des actions
- 19 095 actions ordinaires acquises 脿 0 $ lors de l鈥檃cquisition de Restricted Stock Units (RSU) et Performance Share Units (PSU).
- 4 953 actions retenues 脿 45,24 $ pour obligations fiscales (code 芦 F 禄).
- Augmentation nette : 14 142 actions.
Cette activit茅 refl猫te un vesting habituel dans le cadre d鈥檜n plan d鈥檌ncitation plut么t qu鈥檜ne op茅ration sur le march茅 ouvert ; elle a donc un impact imm茅diat limit茅 sur la valorisation mais renforce modestement l鈥檃lignement entre la direction et les actionnaires.
Travel + Leisure Co. (TNL) hat f眉r die Chief Human Resources Officer Kimberly Marshall ein ge盲ndertes Formular 4 eingereicht, das Aktienereignisse vom 10.03.2024 abdeckt. Der einzige Zweck des 4/A besteht darin, den Transaktionscode f眉r 4.953 Aktien von 鈥濻鈥� (Verkauf) auf 鈥濬鈥� zu 盲ndern und damit klarzustellen, dass diese Aktien zur Steuerabdeckung einbehalten und nicht verkauft wurden.
Wichtige Aktienbewegungen
- 19.095 Stammaktien wurden beim Vesting von Restricted Stock Units (RSUs) und Performance Share Units (PSUs) zum Preis von $0 erworben.
- 4.953 Aktien wurden zum Preis von $45,24 zur Steuerabdeckung einbehalten (Code 鈥濬鈥�).
- Nettozunahme: 14.142 Aktien.
Die Aktivit盲t spiegelt eine routinem盲脽ige Vesting von Anreizpl盲nen wider und keine offenen Markttransaktionen; daher hat sie eine begrenzte unmittelbare Auswirkung auf die Bewertung, st盲rkt jedoch moderat die Ausrichtung zwischen Management und Aktion盲ren.
FAQ
Why did TNL file a Form 4/A on 07/24/2025?
How many Travel + Leisure (TNL) shares did Kimberly Marshall acquire?
How many TNL shares were disposed of in the filing?
What is Marshall鈥檚 current direct ownership in TNL after the transaction?
Does the filing impact Travel + Leisure's share count?
