Form 4: Park Hotels & Resorts Director Acquires Shares in Lieu of Cash Fees

Director Patricia M. Bedient acquired 1,770 shares of Park Hotels & Resorts Inc. common stock in lieu of cash fees for board service during the third quarter of 2024.

Summary

• On September 23, 2024, Patricia M. Bedient, a director of Park Hotels & Resorts Inc., acquired 1,770 shares of common stock.
• The acquisition was made in lieu of cash fees for her service on the board of directors during the third quarter of 2024.
• The shares were granted under the Park Hotels & Resorts Inc. 2017 Stock Plan for Non-Employee Directors, as amended.
• The shares vested immediately upon grant.
• Following the transaction, Ms. Bedient directly owns 111,857 shares of Park Hotels & Resorts Inc. common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction (director compensation) and doesn't contain any alarming information. The director taking stock in lieu of cash is a mildly positive signal.

Positives

• The director's decision to take shares in lieu of cash demonstrates confidence in the company's future.

Industry Context

Directors receiving stock in lieu of cash compensation is a fairly common practice, especially in REITs like Park Hotels & Resorts, as it aligns their interests with those of shareholders.

Comparison to Industry Standards

• Comparing director compensation structures across similar REITs such as Host Hotels & Resorts (HST) and Pebblebrook Hotel Trust (PEB) would provide context on whether this stock-for-fees arrangement is standard practice.
• Analyzing the percentage of director compensation paid in stock versus cash across these peers could reveal insights into Park Hotels & Resorts' corporate governance practices.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with theirs.

Key Dates