Form 4: Park Hotels & Resorts Executive Surrenders Shares to Cover Tax Obligations
SEC Form 4 Filing
Darren W. Robb, SVP and CAO of Park Hotels & Resorts, surrendered shares to cover tax withholding obligations upon the vesting of restricted stock.
Summary
- On February 24, 2025, Darren W. Robb, SVP and CAO of Park Hotels & Resorts Inc., surrendered shares of common stock to cover tax withholding obligations.
- A total of 621 shares were surrendered at a price of $12.63 per share related to the vesting of 2,061 shares of restricted stock.
- An additional 751 shares were surrendered at a price of $12.63 per share related to the vesting of 2,493 shares of restricted stock.
- Following these transactions, Robb directly owns 97,790 shares of Park Hotels & Resorts Inc.
- The shares were surrendered to satisfy tax obligations related to restricted stock granted under the Park Hotels & Resorts Inc. 2017 Omnibus Incentive Plan.
- The price per share used to determine the tax withholdings was the closing price on the NYSE on February 21, 2025.
Sentiment
Score: 5
Explanation: The document describes a routine transaction related to executive compensation and tax obligations, with no inherent positive or negative implications for the company's overall performance.
Industry Context
This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies.
Key Dates
| Date | Description |
|---|---|
| 2025-02-21 | Date of NYSE closing price used to determine tax withholdings. |
| 2025-02-24 | Date of transaction: shares surrendered to cover tax withholding obligations. |
| 2025-02-26 | Date of signature on the Form 4 filing. |
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