PK.NYSEPark Hotels & Resorts INC

Form 4: Park Hotels & Resorts CEO Thomas J. Baltimore Jr. Disposes of Shares to Cover Tax Obligations

Sentiment:

SEC Form 4 Filing

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CEO Thomas J. Baltimore Jr. of Park Hotels & Resorts Inc. disposed of 23,378 shares of common stock to satisfy tax withholding obligations related to the vesting of restricted stock.

Summary

  • On February 18, 2025, Thomas J. Baltimore Jr., CEO of Park Hotels & Resorts Inc., disposed of 23,378 shares of common stock.
  • The disposal was executed to cover tax withholding obligations arising from the vesting of 48,401 shares of restricted stock previously granted to Mr. Baltimore under the company's 2017 Omnibus Incentive Plan.
  • The price per share used to determine the tax withholdings was $12.88, which was the closing price of Park Hotels & Resorts Inc.'s common stock on the NYSE on February 14, 2025.
  • Following the transaction, Mr. Baltimore beneficially owns 1,617,980 shares of Park Hotels & Resorts Inc.

Sentiment

Score: 6

Explanation: Neutral sentiment as it reflects a standard transaction for tax obligations related to executive compensation.

Industry Context

This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies.

Stakeholder Impact

  • The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes.

Key Dates

DateDescription
2025-02-14Date of NYSE closing price ($12.88) used for tax withholding calculation.
2025-02-18Date of transaction: Disposal of shares to cover tax obligations.
2025-02-20Date of signature on the Form 4 filing.

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