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

Terri D. McClements, a director at Park Hotels & Resorts Inc., acquired 1,441 shares of common stock on September 23, 2024, in lieu of cash fees for board service.

Summary

• On September 23, 2024, Terri D. McClements, a director of Park Hotels & Resorts Inc., acquired 1,441 shares of common stock.
• The acquisition was made in lieu of cash fees for her service on the issuer's board of directors during the 3rd quarter of 2024.
• The shares were granted under the Park Hotels & Resorts Inc. 2017 Stock Plan for Non-Employee Directors, as amended.
• The common stock vested immediately upon grant.
• Following the transaction, McClements directly owns 14,950 shares of Park Hotels & Resorts Inc. common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction of a director receiving stock in lieu of cash, which is generally viewed neutrally to positively as it aligns interests with shareholders. There are no indications of negative sentiment.

Positives

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

Industry Context

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

Stakeholder Impact

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

Key Dates