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 661 shares to cover tax obligations related to vesting restricted stock.

Summary

• On February 26, 2024, Joseph M. Piantedosi, EVP of Asset Management at Park Hotels & Resorts Inc., disposed of 661 shares of common stock.
• The shares were surrendered to the issuer to satisfy tax withholding obligations due upon the vesting of 2,193 shares of restricted stock.
• The transaction was executed at a price of $15.9 per share.
• Following the transaction, Piantedosi directly owns 38,393 shares of Park Hotels & Resorts Inc.
• The price per share used to determine the tax withholdings was the closing price on the NYSE on February 23, 2024.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to tax obligations, with no indication of 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.

Comparison to Industry Standards

• Similar transactions are common among executives at publicly traded companies like Host Hotels & Resorts (HST) and Marriott International (MAR), where stock-based compensation is a significant part of executive pay.
• These transactions are typically viewed in the context of individual financial planning rather than a reflection of company performance.

Key Dates