Form 4: Marriott International Director Harrison Exercises Stock Appreciation Rights, Acquires Shares
SEC Form 4 Filing
Director Deborah Marriott Harrison reports the exercise of stock appreciation rights and acquisition of Marriott International Class A Common Stock.
Summary
- On May 3, 2024, Deborah Marriott Harrison, a director at Marriott International, exercised stock appreciation rights (SARs) and acquired 7,588 shares of Class A Common Stock at a price of $234.59.
- 4,445 shares were withheld to cover the exercise price and withholding tax obligations.
- Following the transaction, Harrison directly owns 50,272 shares of Class A Common Stock.
- Harrison also has indirect ownership through various trusts and entities, including 22,027,118 shares held by JWM Family Enterprises.
- The stock appreciation rights were settled in Class A Common Stock and vested in four equal annual installments beginning on February 23, 2016.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it reflects a standard insider transaction. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Positives
- The exercise of stock appreciation rights and subsequent acquisition of shares could be interpreted as a positive signal, indicating the director's confidence in the company's future performance.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company insiders and their holdings in the company's stock.
Comparison to Industry Standards
- Insider trading activity is closely monitored across the hospitality industry.
- Comparable companies such as Hilton and Hyatt also have similar reporting requirements for their executives and directors.
- The level of detail provided in this Form 4 filing is consistent with SEC regulations and industry best practices.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders.
- It provides transparency to shareholders regarding insider activity.
Key Dates
| Date | Description |
|---|---|
| February 23, 2015 | Grant date of the stock appreciation rights, vesting in four equal annual installments beginning one year later. |
| February 23, 2016 | First vesting date of the stock appreciation rights. |
| May 03, 2024 | Date of transaction: exercise of stock appreciation rights and acquisition/disposition of shares. |
| May 06, 2024 | Date of signature on the Form 4 filing. |
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