Form 4: Park Hotels & Resorts Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Nancy M. Vu, EVP, General Counsel & Secretary of Park Hotels & Resorts Inc., sold shares to cover tax obligations arising from the vesting of restricted stock.
Summary
- On February 18, 2025, Nancy M. Vu, EVP, General Counsel & Secretary of Park Hotels & Resorts Inc., disposed of 3,751 shares of common stock.
- The shares were surrendered to the issuer to satisfy tax withholding obligations due upon the vesting of 8,316 shares of restricted stock.
- The transaction price was $12.88 per share.
- Following the transaction, Vu directly owns 123,148 shares of Park Hotels & Resorts Inc.
- The price per share used to determine the tax withholdings was the closing price per share of the Company's common stock on the New York Stock Exchange (the 'NYSE') on February 14, 2025.
Sentiment
Score: 5
Explanation: This is a neutral event. It's a standard transaction related to tax obligations and doesn't necessarily indicate a positive or negative outlook for the company.
Industry Context
This is a routine Form 4 filing related to insider transactions. It is common for executives to sell shares to cover tax obligations when restricted stock vests.
Key Dates
| Date | Description |
|---|---|
| 02/14/2025 | Date used to determine the tax withholding related to the delivered shares, based on the NYSE closing price. |
| 02/18/2025 | Date of the transaction where shares were surrendered to cover tax obligations. |
| 02/20/2025 | Date of signature on the Form 4 filing. |
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