Form 4: Park Hotels & Resorts Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Carl A. Mayfield, EVP at Park Hotels & Resorts, disposed of shares to cover tax obligations arising from vesting restricted stock.
Summary
- On February 18, 2025, Carl A. Mayfield, EVP of Design and Construction at Park Hotels & Resorts Inc., disposed of 4,584 shares of common stock to satisfy tax withholding obligations.
- The shares were surrendered to cover taxes due upon the vesting of 9,148 shares of restricted stock previously granted under the company's 2017 Omnibus Incentive Plan.
- The transaction was executed at a price of $12.88 per share, based on the closing price of Park Hotels & Resorts' common stock on the NYSE on February 14, 2025.
- Following the transaction, Mayfield directly owns 221,657 shares of Park Hotels & Resorts Inc.
Sentiment
Score: 5
Explanation: Neutral sentiment as this is a routine transaction related to tax obligations.
Industry Context
This is a routine transaction related to executive compensation and tax obligations. It is common for executives to sell shares to cover taxes when restricted stock vests.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 02/14/2025 | Date used to determine the price per share for tax withholding ($12.88 closing price on NYSE). |
| 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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