Form 4: Park Hotels & Resorts Executive Sells Shares to Cover Tax Obligations

Joseph M. Piantedosi, EVP of Asset Management at Park Hotels & Resorts, disposed of shares to cover tax obligations upon vesting of restricted stock.

Summary

• On February 18, 2025, Joseph M. Piantedosi, EVP of Asset Management at Park Hotels & Resorts Inc., disposed of 1,091 shares of common stock to satisfy tax withholding obligations.
• The shares were surrendered to cover taxes due upon the vesting of 3,623 shares of restricted stock previously granted to Piantedosi under the company's 2017 Omnibus Incentive Plan.
• The price per share used to determine the tax withholdings was $12.88, which was the closing price of Park Hotels & Resorts' common stock on the NYSE on February 14, 2025.
• Following the transaction, Piantedosi beneficially owns 69,877 shares of Park Hotels & Resorts Inc.

Sentiment

Score: 5

Explanation: This is a neutral event related to standard executive compensation practices. It doesn't indicate positive or negative sentiment towards the company's prospects.

Industry Context

This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies. It doesn't necessarily reflect a change in the executive's confidence in the company.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a small number of shares being disposed of by an executive to cover tax obligations.

Key Dates