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

Patricia M. Bedient, a director at Park Hotels & Resorts Inc., received 1,813 shares of common stock in lieu of cash fees for board service.

Summary

• Patricia M. Bedient, a director at Park Hotels & Resorts Inc., received 1,813 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 awarded under the Park Hotels & Resorts Inc. 2017 Stock Plan for Non-Employee Directors.
• The stock was granted on December 23, 2024, and vested immediately.
• The value of the stock was based on the closing sales price of the company's common stock on the New York Stock Exchange on the grant date.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction of stock compensation for a director, which is a normal and expected practice. There are no indications of any negative or unusual events.

Positives

• The stock award aligns director compensation with company performance.
• The immediate vesting of the shares provides an incentive for continued service.

Industry Context

This type of stock award is a common practice for compensating non-employee directors in publicly traded companies, aligning their interests with those of shareholders.

Comparison to Industry Standards

• Many publicly traded companies use stock awards as part of their compensation packages for non-employee directors.
• This practice is generally considered a best practice for aligning the interests of directors with those of shareholders.
• Companies like Marriott International and Hilton Worldwide also use similar stock-based compensation plans for their directors.

Stakeholder Impact

• The stock award aligns the director's interests with those of shareholders.
• The award does not have a significant impact on other stakeholders.

Key Dates

Keywords

stock award, director compensation, board of directors, common stock, Park Hotels & Resorts, equity compensation