Form 4: Park Hotels & Resorts Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Thomas C. Morey, EVP & Chief Investment Officer of Park Hotels & Resorts, disposed of shares to cover tax withholding obligations upon the vesting of restricted stock.
Summary
- On February 24, 2025, Thomas C. Morey, EVP & Chief Investment Officer of Park Hotels & Resorts Inc., disposed of shares of common stock to satisfy tax withholding obligations.
- The transactions involved the surrender of 4,208 shares and 5,240 shares, respectively, to cover taxes due upon the vesting of restricted stock granted under the company's 2017 Omnibus Incentive Plan.
- The price per share used to determine the tax withholdings was $12.63, which was the closing price of the company's common stock on the NYSE on February 21, 2025, the trading day prior to the delivery of the shares.
- Following the reported transactions, Morey directly owns 317,292 shares of Park Hotels & Resorts Inc.
Sentiment
Score: 5
Explanation: The document describes a routine transaction related to tax obligations, with no indication of positive or negative sentiment.
Industry Context
This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies.
Key Dates
| Date | Description |
|---|---|
| 02/21/2025 | NYSE closing price of $12.63 per share used for tax withholding calculation. |
| 02/24/2025 | Date of share disposal to satisfy tax withholding obligations. |
| 02/26/2025 | Date of signature on the Form 4 filing. |
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