PK.NYSEPark Hotels & Resorts INC

Form 4: Park Hotels & Resorts Executive Surrenders Shares to Cover Tax Obligations

Sentiment:

SEC Form 4

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Joseph M. Piantedosi, EVP of Asset Management at Park Hotels & Resorts, surrendered shares to cover tax withholding obligations upon the vesting of restricted stock.

Summary

  • On February 24, 2025, Joseph M. Piantedosi, EVP of Asset Management at Park Hotels & Resorts Inc., surrendered 661 shares of common stock to cover tax obligations.
  • These shares were related to the vesting of 2,194 shares of restricted stock previously granted under the company's 2017 Omnibus Incentive Plan.
  • An additional 1,120 shares were surrendered on the same date to cover tax obligations related to the vesting of 3,720 shares of restricted stock.
  • The price per share used to determine the tax withholdings was $12.63, which was the closing price on the NYSE on February 21, 2025.
  • Following these transactions, Piantedosi directly owns 68,096 shares of Park Hotels & Resorts Inc.

Sentiment

Score: 5

Explanation: This is a neutral event. It reflects routine tax obligations related to executive compensation and doesn't indicate any fundamental change in the company's prospects.

Industry Context

This is a routine Form 4 filing, reflecting insider transactions related to equity compensation. It's common for executives to surrender shares to cover tax obligations when restricted stock vests.

Key Dates

DateDescription
02/21/2025NYSE closing price of $12.63 per share used for tax withholding calculation.
02/24/2025Date of share surrender for tax obligations.
02/26/2025Date of signature on the Form 4 filing.

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