Form 4: Park Hotels & Resorts Director Terri D. McClements Acquires Shares in Lieu of Cash Fees

Director Terri D. McClements acquired 1,443 shares of Park Hotels & Resorts Inc. common stock in lieu of cash fees for board service during the second quarter of 2024.

Summary

• Terri D. McClements, a director of Park Hotels & Resorts Inc., acquired 1,443 shares of common stock on June 21, 2024.
• The shares were received in lieu of cash fees for her 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, McClements beneficially owns 13,509 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 is generally seen as a good sign, indicating confidence in the company's stock.

Positives

• The director's decision to take shares in lieu of cash demonstrates confidence in the company's future.
• The immediate vesting of the shares provides an incentive for continued service on the board.

Future Outlook

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

Industry Context

Directors receiving stock in lieu of cash compensation is a common practice to align their interests with those of shareholders, particularly in the real estate investment trust (REIT) sector where Park Hotels & Resorts operates.

Comparison to Industry Standards

• Comparing director compensation structures across similar REITs such as Host Hotels & Resorts (HST) and Pebblebrook Hotel Trust (PEB) would provide context on whether this arrangement is standard.
• Many REITs offer directors the option to receive equity in lieu of cash, often with similar vesting schedules to align director incentives with long-term shareholder value.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with theirs.
• There is no significant impact on employees, customers, suppliers, or creditors.

Key Dates