Form 4: Stephen Sadove Receives Restricted Stock Award for Board Service at Park Hotels & Resorts Inc.

Director Stephen Sadove received 8,668 shares of restricted stock from Park Hotels & Resorts Inc. for his board service, vesting on April 25, 2025.

Summary

• Stephen Sadove, a director of Park Hotels & Resorts Inc., received 8,668 shares of restricted stock on April 19, 2024.
• The shares were awarded under the Issuer's 2017 Stock Plan for Non-Employee Directors.
• This award is in connection with Mr. Sadove's service on the Board of Directors for the period from April 19, 2024, through the date of the Issuer's 2025 annual meeting of stockholders.
• The restricted stock will vest in full on April 25, 2025, or earlier if the 2025 annual meeting is held before that date.
• Following the transaction, Mr. Sadove directly owns 59,521 shares of common stock.
• He also indirectly owns 20,000 shares through the Sadove Family Delaware Dynasty Trust and 23,816 shares through the Stephen I. Sadove Revocable Trust.

Sentiment

Score: 7

Explanation: The document reflects a routine compensation practice, indicating stability and alignment of interests. It's a neutral to slightly positive event.

Positives

• The grant of restricted stock aligns Mr. Sadove's interests with those of the shareholders.
• The vesting schedule encourages continued service on the board.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting date of the restricted stock.

Industry Context

This type of equity compensation is common for non-employee directors to align their interests with the long-term performance of the company.

Comparison to Industry Standards

• Equity compensation for board members is a standard practice across the hospitality industry.
• Companies like Marriott International and Hilton Worldwide also utilize stock awards and options as part of their director compensation packages.
• The specific amount and vesting schedule can vary based on company size, performance, and board responsibilities.

Stakeholder Impact

• The stock award aligns the director's interests with those of the shareholders, potentially leading to better decision-making.
• The award does not have a direct impact on employees, customers, suppliers, or creditors.

Key Dates