Form 4: Park Hotels & Resorts Director Receives Stock Award in Lieu of Cash Fees

Terri D. McClements, a director at Park Hotels & Resorts, received 1,476 shares of common stock in lieu of cash fees for board service.

Summary

• Terri D. McClements, a director at Park Hotels & Resorts, received 1,476 shares of the company's common stock.
• This stock award was granted in lieu of cash fees for her service on the board of directors during the fourth quarter of 2024.
• The shares were granted on December 23, 2024, and vested immediately.
• The value of the stock was based on the closing sales price of Park Hotels & Resorts' common stock on the New York Stock Exchange on the grant date.
• Following this transaction, Ms. McClements beneficially owns 16,426 shares of Park Hotels & Resorts common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction of stock compensation for a director, which is generally viewed positively as it aligns interests with shareholders. There are no negative implications.

Positives

• The director's decision to receive stock instead of cash aligns her interests with those of shareholders.
• The immediate vesting of the shares indicates a strong commitment to the company's long-term success.

Industry Context

This type of stock award is a common practice for compensating non-employee directors, aligning their interests with the company's performance and shareholder value.

Comparison to Industry Standards

• Many companies, including those in the hospitality sector like Marriott International and Hilton Worldwide, use stock awards as part of their director compensation packages.
• The practice of granting shares in lieu of cash fees is a common method to incentivize directors and align their interests with shareholders.
• The immediate vesting of the shares is also a standard practice to ensure directors are immediately invested in the company's success.

Stakeholder Impact

• Shareholders may view this positively as it aligns director interests with company performance.
• Employees are not directly impacted by this transaction.

Key Dates

Keywords

Park Hotels & Resorts, Director, Stock Award, Common Stock, Board Fees, SEC Form 4, Terri D. McClements, Equity Compensation