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 obligations related to vesting restricted stock.
Summary
- On February 18, 2025, Thomas C. Morey, EVP & Chief Investment Officer of Park Hotels & Resorts Inc., disposed of 5,848 shares of common stock to satisfy tax withholding obligations.
- The shares were surrendered to cover taxes due upon the vesting of 12,106 shares of restricted stock previously granted 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 on the NYSE on February 14, 2025.
- Following the transaction, Morey directly owns 326,740 shares of Park Hotels & Resorts Inc.
Sentiment
Score: 5
Explanation: Neutral. This is a standard transaction related to executive compensation and tax obligations.
Industry Context
This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies.
Key Dates
| Date | Description |
|---|---|
| 02/14/2025 | NYSE closing price of $12.88 used to determine tax withholding. |
| 02/18/2025 | Date of transaction: disposal of shares to cover tax obligations. |
| 02/20/2025 | Date of signature on the Form 4 filing. |
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