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

Patricia M. Bedient, a director at Park Hotels & Resorts Inc., acquired 1,339 shares of common stock in lieu of cash fees for board service during the first quarter of 2024.

Summary

• On March 22, 2024, Patricia M. Bedient, a director of Park Hotels & Resorts Inc., acquired 1,339 shares of the company's common stock.
• The shares were awarded under the Park Hotels & Resorts Inc. 2017 Stock Plan for Non-Employee Directors, as amended.
• This award was in lieu of cash fees payable to Ms. Bedient for her service on the issuer's board of directors during the first quarter of 2024.
• The shares vested immediately upon grant and had a market value based on the closing sales price of the issuer's common stock on the New York Stock Exchange on the grant date.
• Following the transaction, Ms. Bedient directly owns 99,657 shares of Park Hotels & Resorts Inc.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction of a director receiving stock in lieu of cash compensation, which is generally viewed as a positive sign of alignment with shareholder interests. There are no indications of negative sentiment.

Positives

• The director's decision to receive stock in lieu of cash demonstrates confidence in the company's future performance.
• The immediate vesting of the shares aligns the director's interests with those of the shareholders.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This type of stock award in lieu of cash compensation is a common practice for directors of publicly traded companies, aligning their interests with shareholders and conserving company cash.

Stakeholder Impact

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

Key Dates