Form 4: Park Hotels & Resorts Executive VP Nancy M. Vu Reports Stock Award and Tax Withholding

Nancy M. Vu, EVP, General Counsel & Secretary of Park Hotels & Resorts Inc., reports acquisition of shares from vested performance stock units and shares withheld for tax obligations.

Summary

• On January 24, 2025, Nancy M. Vu, EVP, General Counsel & Secretary of Park Hotels & Resorts Inc., acquired 13,951 shares of common stock related to a vested performance stock unit award.
• These shares were earned based on the company's total shareholder return (TSR) relative to a peer group over a performance period from January 1, 2022, to December 31, 2024.
• The number of earned performance stock units represented 99% of the target number eligible to be earned.
• Also on January 24, 2025, 4,602 shares were withheld by the issuer to satisfy tax withholding obligations at a price of $13.78 per share.
• Following these transactions, Vu directly owns 97,471 shares of Park Hotels & Resorts Inc. common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The document simply reports transactions related to executive compensation. The vesting of performance stock units suggests the company met some performance goals, but the document itself is purely informational.

Positives

• The vesting of performance stock units indicates that the company met certain performance criteria related to total shareholder return.
• The achievement of 99% of the target number of performance stock units suggests strong performance relative to its peer group.

Industry Context

This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It reflects the alignment of executive incentives with shareholder returns, a common practice in the hospitality industry.

Comparison to Industry Standards

• Performance-based equity compensation is a standard practice among publicly traded companies, including hotel REITs like Host Hotels & Resorts and Pebblebrook Hotel Trust.
• The use of TSR relative to a peer group as a performance metric is also common, as it directly links executive compensation to shareholder value creation.
• The level of TSR achievement (99% of target) would need to be compared to similar disclosures from peer companies to assess its relative performance.

Stakeholder Impact

• The vesting of performance stock units aligns management's interests with those of shareholders, potentially driving decisions that increase shareholder value.
• The tax withholding impacts the executive's net compensation.

Key Dates