Form 4: Park Hotels & Resorts Executive Surrenders Shares for Tax Obligations
SEC Form 4 Filing
Carl A. Mayfield, EVP at Park Hotels & Resorts, surrendered shares to cover tax withholding obligations upon the vesting of restricted stock.
Summary
- On February 24, 2025, Carl A. Mayfield, EVP of Design and Construction at Park Hotels & Resorts Inc., surrendered shares of common stock to the issuer to satisfy tax withholding obligations.
- A total of 3,299 shares were surrendered at a price of $12.63 per share due to the vesting of 6,583 shares of restricted stock.
- An additional 4,107 shares were surrendered at the same price of $12.63 per share due to the vesting of 8,197 shares of restricted stock.
- Following these transactions, Mayfield directly owns 214,251 shares of Park Hotels & Resorts Inc. common stock.
Sentiment
Score: 5
Explanation: This is a neutral event related to standard executive compensation practices; it doesn't indicate positive or negative sentiment.
Industry Context
This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies.
Comparison to Industry Standards
- Share surrenders for tax obligations upon vesting of restricted stock are a standard practice in executive compensation across various industries.
- Companies like Marriott International and Hilton Worldwide also utilize restricted stock grants as part of their executive compensation packages, and similar tax-related share surrenders are expected to occur periodically.
Key Dates
| Date | Description |
|---|---|
| 02/24/2025 | Date of transaction: Shares surrendered to cover tax obligations. |
| 02/26/2025 | Date of signature on the Form 4 filing. |
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