Form 4: Park Hotels & Resorts SVP and CAO, Darren W. Robb, Reports Changes in Beneficial Ownership

Darren W. Robb, SVP and CAO of Park Hotels & Resorts, reports the disposition of 621 shares to cover tax obligations upon vesting of restricted stock.

Summary

• On February 26, 2024, Darren W. Robb, SVP and CAO of Park Hotels & Resorts Inc., disposed of 621 shares of common stock to satisfy tax withholding obligations.
• The shares were surrendered to cover taxes due upon the vesting of 2,060 shares of restricted stock previously granted under the company's 2017 Omnibus Incentive Plan.
• The price per share used to determine the tax withholdings was $15.9, based on the closing price of Park Hotels & Resorts' common stock on the NYSE on February 23, 2024.
• Following the transaction, Robb directly owns 81,965 shares of Park Hotels & Resorts Inc.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing a standard transaction related to executive compensation. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It reflects standard practices for managing tax obligations associated with equity-based compensation.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider transactions.
• Companies like Marriott International and Hilton Worldwide also have executives who regularly file Form 4s related to stock options and restricted stock units.
• The tax withholding mechanism described is a common method for handling equity compensation across the industry.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, as it is a routine adjustment of executive stock ownership.
• Employees who hold restricted stock may find the information relevant to their own tax planning.

Key Dates