Form 4: Marriott International Director Horacio Rozanski Reports Acquisition of Stock and Stock Appreciation Rights

Director Horacio Rozanski reports acquisition of Marriott International stock and stock appreciation rights (SARs) as part of deferred stock compensation and board retainer fees.

Summary

• On May 13, 2024, Horacio Rozanski, a director of Marriott International, acquired 837 shares of Class A Common Stock through a deferred stock compensation plan at a price of $0.00 per share.
• Following this transaction, Rozanski directly owns 4,315 shares of Class A Common Stock.
• Rozanski also acquired 1,003 Stock Appreciation Rights (SARs) as a board retainer fee, with an exercise price of $238.96.
• These SARs are fully vested and exercisable on the last business day before the next annual meeting of stockholders and expire on May 13, 2034.
• Following the transaction, Rozanski directly owns 1,003 SARs.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The director's acquisition of stock and SARs indicates confidence in the company, but it's a routine transaction.

Positives

• The acquisition of stock and SARs by a director signals confidence in the company's future performance.
• The SARs being fully vested provides an immediate incentive for the director to contribute to the company's success.

Future Outlook

The document does not contain specific forward-looking statements, but the acquisition of stock and SARs suggests a positive outlook from the director.

Industry Context

This filing is a routine disclosure related to insider transactions, which are common in publicly traded companies. It reflects compensation practices for board members and executives.

Comparison to Industry Standards

• Director compensation packages often include a mix of cash, stock, and stock options or SARs.
• The vesting and exercisability terms of the SARs are typical for board retainer fees, aligning the director's interests with those of the shareholders.
• Companies like Hilton (HLT) and Hyatt (H) also use similar compensation structures for their board members.

Stakeholder Impact

• The transaction could have a slightly positive impact on shareholder sentiment, as it signals confidence from a company director.

Key Dates