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

Director Stephen Sadove acquired 2,180 shares of Park Hotels & Resorts Inc. common stock in lieu of cash fees for board service during the second quarter of 2024.

Summary

• Stephen Sadove, a director at Park Hotels & Resorts Inc., acquired 2,180 shares of common stock on June 21, 2024.
• The shares were received in lieu of cash fees for his service on the board of directors during the second quarter of 2024 under the company's 2017 Stock Plan for Non-Employee Directors.
• The shares vested immediately upon grant.
• Following the transaction, Sadove directly owns 61,701 shares.
• Sadove also indirectly owns 20,000 shares through the Sadove Family Delaware Dynasty Trust and 23,816 shares through the Stephen I. Sadove Revocable Trust.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. A director taking stock in lieu of cash can be seen as a positive sign, indicating confidence in the company's future performance.

Positives

• Director's decision to take shares instead of cash demonstrates confidence in the company's future.

Industry Context

Directors receiving stock in lieu of cash compensation is a common practice to align their interests with shareholders.

Stakeholder Impact

• The transaction could have a slightly positive impact on shareholders as it aligns the director's interests with theirs.

Key Dates