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 4,208 shares of common stock to cover tax obligations arising from the vesting of restricted stock.
Summary
- On February 26, 2024, Thomas C. Morey, the EVP & Chief Investment Officer of Park Hotels & Resorts Inc., disposed of 4,208 shares of the company's common stock.
- The transaction was executed to satisfy tax withholding obligations related to the vesting of 8,711 shares of restricted stock.
- The price per share for determining the tax withholdings was $15.9, based on the closing price of the company's common stock on the NYSE on February 23, 2024.
- Following the transaction, Morey directly owns 264,188 shares of Park Hotels & Resorts Inc.
Sentiment
Score: 5
Explanation: Neutral sentiment as it reflects a routine transaction for tax purposes.
Industry Context
This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies.
Key Dates
| Date | Description |
|---|---|
| 02/23/2024 | Date used to determine the price per share for tax withholding obligations ($15.9). |
| 02/26/2024 | Date of the transaction where 4,208 shares were disposed of to cover tax obligations. |
| 02/27/2024 | Date of signature on the Form 4 filing. |
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