Form 4: Park Hotels & Resorts Director Timothy Naughton Acquires Restricted Stock Award

Director Timothy Naughton receives 8,668 shares of restricted stock from Park Hotels & Resorts in connection with his board service.

Summary

• Timothy Naughton, a director at Park Hotels & Resorts Inc., acquired 8,668 shares of common stock on April 19, 2024.
• The acquisition was a result of a restricted stock award under the company's 2017 Stock Plan for Non-Employee Directors.
• These shares are compensation for Mr. Naughton's service on the Board of Directors from April 19, 2024, through the date of the 2025 annual meeting of stockholders.
• The shares will vest fully on April 25, 2025, or earlier if the annual meeting occurs before that date.
• Following the transaction, Mr. Naughton beneficially owns 113,602 shares of Park Hotels & Resorts Inc.

Sentiment

Score: 7

Explanation: The document reflects a standard director compensation practice, indicating stability and alignment of interests. It's a neutral-positive event.

Positives

• The grant of restricted stock aligns the director's interests with those of the shareholders.
• The vesting schedule encourages continued service on the board.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting date of the restricted stock.

Industry Context

Director compensation through stock awards is a common practice in the hotel and resort industry to align management and shareholder interests.

Comparison to Industry Standards

• Stock awards are a typical component of director compensation packages across the hospitality industry.
• Companies like Marriott International and Hilton Worldwide also utilize stock-based compensation for their board members.
• The size of the award is likely benchmarked against peer companies and the director's level of responsibility.

Stakeholder Impact

• Shareholders may view the stock award positively as it aligns the director's interests with the company's performance.
• The award does not have a direct impact on employees, customers, suppliers, or creditors.

Next Steps

• The shares will vest on April 25, 2025, or earlier if the annual meeting is held before that date.

Key Dates