Form 4: Park Hotels & Resorts Director Timothy Naughton Acquires Shares in Lieu of Cash Fees

Director Timothy Naughton acquired 1,564 shares of Park Hotels & Resorts Inc. common stock in lieu of cash fees for board service during the third quarter of 2024.

Summary

• Timothy Naughton, a director at Park Hotels & Resorts Inc., acquired 1,564 shares of common stock on September 23, 2024.
• The acquisition was made in lieu of cash fees for his service on the board of directors during the third quarter of 2024.
• The shares were granted under the Park Hotels & Resorts Inc. 2017 Stock Plan for Non-Employee Directors, as amended.
• The shares vested immediately upon grant.
• Following the transaction, Naughton directly owns 116,801 shares of Park Hotels & Resorts Inc.
• The price of the stock at the time of acquisition was $0, indicating it was an award rather than a purchase.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The director taking stock in lieu of cash suggests confidence, but it's a routine transaction.

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 aligns the director's interests with those of the shareholders.

Industry Context

This type of stock award is a common practice for compensating board members, aligning their interests with the long-term performance of the company. It's typical for directors to receive equity as part of their compensation package.

Comparison to Industry Standards

• Many companies, such as Marriott International and Hilton Worldwide, use similar stock plans to compensate non-employee directors.
• The amount of stock awarded is generally in line with industry standards for director compensation at companies of similar size and market capitalization.

Stakeholder Impact

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

Key Dates