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

Patricia M. Bedient, a director at Park Hotels & Resorts Inc., acquired 1,762 shares of common stock in lieu of cash fees for board service during the second quarter of 2024.

Summary

• On June 21, 2024, Patricia M. Bedient, a director of Park Hotels & Resorts Inc., acquired 1,762 shares of the company's common stock.
• The acquisition was made in lieu of cash fees for her service on the board of directors during the second 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, Bedient directly owns 110,087 shares of Park Hotels & Resorts Inc. common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. A director taking shares instead of cash can be seen as a positive sign of confidence in the company, but it's a routine transaction.

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, particularly in REITs like Park Hotels & Resorts, as it aligns their interests with those of shareholders.

Comparison to Industry Standards

• Comparing this to other REITs, directors often receive a mix of cash and equity compensation.
• For example, directors at Host Hotels & Resorts (HST) and Pebblebrook Hotel Trust (PEB) also receive equity grants as part of their compensation packages.
• The specific amount and structure can vary based on company size, performance, and governance policies.

Stakeholder Impact

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

Key Dates