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

Timothy J Naughton, a director at Park Hotels & Resorts Inc., acquired 1,515 shares of common stock in lieu of cash fees for board service during the first quarter of 2024.

Summary

• On March 22, 2024, Timothy J Naughton, a director of Park Hotels & Resorts Inc., acquired 1,515 shares of the company's common stock.
• The acquisition was made in lieu of cash fees for his service on the board of directors during the first quarter of 2024 under the Park Hotels & Resorts Inc. 2017 Stock Plan for Non-Employee Directors.
• The shares were granted on March 22, 2024, and vested immediately.
• Following the transaction, Naughton directly owns 104,934 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, especially for REITs like Park Hotels & Resorts, as it aligns their interests with those of shareholders.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders, but it reinforces the alignment of director interests with shareholder value.

Key Dates