Ryman Hospitality Properties CFO Jennifer Hutcheson Receives Dividend-Linked RSU Awards Tied to $1.20 Per Share Common Stock Dividend

Ryman Hospitality Properties Pays $1.20 Per Share Dividend, Triggering Executive RSU Adjustments

Ryman Hospitality Properties confirmed in the July 15, 2026 disclosure that it paid a $1.20 per share dividend on its outstanding common stock on that same date. This dividend payment directly activated contractual provisions within CFO Jennifer Hutcheson's existing RSU award agreements, which require the issuance of additional restricted stock units whenever a cash dividend is distributed to common stockholders. The mechanism ensures that executives holding unvested RSUs are not economically disadvantaged relative to shareholders who receive cash dividends during the vesting period.

The number of additional RSUs credited to each tranche was calculated by dividing the $1.20 dividend per share by the closing price of RHP common stock traded on the NYSE on June 30, 2026. The filing does not disclose the specific closing price used in that calculation. This dividend-equivalent RSU approach is a common feature in executive compensation programs at publicly traded real estate investment trusts, where regular dividend distributions form a central component of the investment thesis offered to shareholders.

Four Distinct RSU Tranches Updated in the CFO's Beneficial Ownership Record

The disclosure identifies four separate restricted stock unit tranches associated with Jennifer Hutcheson's compensation. Following the dividend-equivalent adjustment, the updated unit counts stand at 1,183 RSUs, 1,851 RSUs, 3,172 RSUs, and 6,007 RSUs respectively. Each tranche carries its own vesting schedule as detailed in the filing's explanatory footnotes, and all four are held directly by the reporting person. The conversion or exercise price for each RSU tranche is listed as $0, consistent with standard restricted stock unit structures where no purchase price is required upon vesting.

It is important to note that the figures reported — 1,183, 1,851, 3,172, and 6,007 units — represent the total RSUs beneficially owned in each tranche following the reported dividend-equivalent transaction. The filing does not separately disclose how many units existed in each tranche prior to the adjustment or the precise increment added to each tranche through the dividend calculation. Investors should therefore treat these as post-transaction totals as reported, not as the size of the new grant in isolation.

Vesting Schedules Disclosed for Each RSU Award Tranche

The filing's footnotes describe distinct vesting terms for each of the four RSU tranches held by the CFO. The first tranche of 1,183 RSUs is scheduled to vest 100% on March 15, 2027, representing a single-date cliff vesting structure. The second tranche of 1,851 RSUs vests on a one-to-one share basis in two equal installments — 50% on March 15, 2027 and 50% on March 15, 2028 — providing a two-year graduated vesting timeline.

The third tranche of 3,172 RSUs vests ratably in one-quarter increments over four years beginning March 15, 2026, meaning portions of this tranche have already begun vesting as of the filing date. The fourth and largest tranche of 6,007 RSUs also vests in one-quarter increments over four years, but with a start date of March 15, 2027, extending the full vesting period further into the future. These differentiated schedules reflect multiple years of equity grant activity and are consistent with multi-year retention incentive structures commonly used by hospitality REITs.

Ryman Hospitality Properties: A Hospitality REIT Built Around Destination Entertainment

Ryman Hospitality Properties is a real estate investment trust headquartered in Nashville, Tennessee, that owns and operates a portfolio of large-scale, group-focused resort and convention hotels operating under the Gaylord Hotels brand. The company's properties include the Gaylord Opryland Resort and Convention Center in Nashville, Gaylord Texan Resort in the Dallas-Fort Worth area, Gaylord Palms Resort in Orlando, and Gaylord Rockies Resort in Colorado, among others. These properties are managed by Marriott International under a long-term management agreement.

In addition to its hotel assets, Ryman Hospitality Properties owns and operates the Grand Ole Opry, Ryman Auditorium, and other entertainment and media properties through its entertainment segment. This dual-segment model — combining large convention hotel real estate with iconic live entertainment venues — distinguishes RHP from more conventional lodging REITs and creates revenue streams tied to both group travel demand and live entertainment attendance. As a REIT, the company is required to distribute a substantial portion of its taxable income to shareholders, making its dividend policy a central element of its investor value proposition.

Dividend-Equivalent RSU Provisions and Their Role in Executive Compensation at REITs

The use of dividend-equivalent RSU provisions is a well-established practice among real estate investment trusts, where high and regular dividend yields are a defining characteristic of the investment structure. Without such provisions, executives holding unvested RSUs would miss out on the economic value of dividend payments made to common shareholders during the vesting period, creating a misalignment between executive and shareholder economic interests. By automatically crediting additional RSUs in proportion to dividends paid, the company maintains the intended compensation value of the original grants across the full vesting timeline.

In Ryman Hospitality Properties' case, the $1.20 dividend per share paid on July 15, 2026 triggered adjustments across all four of the CFO's active RSU tranches simultaneously. This underscores that the mechanism operates at the award level across the executive's full equity compensation portfolio, not as a selective or discretionary grant. The filing was signed by Scott J. Lynn as Attorney-in-Fact for Jennifer Hutcheson, which the disclosure identifies as the authorized signatory for this report.

CFO Jennifer Hutcheson's Role and Reporting Obligations Under Section 16

Jennifer L. Hutcheson is identified in the disclosure as Executive Vice President and Chief Financial Officer of Ryman Hospitality Properties, a role that classifies her as a reporting person subject to beneficial ownership reporting requirements under Section 16(a) of the Securities Exchange Act of 1934. As a senior officer, she is required to report changes in her beneficial ownership of company securities, including the receipt of additional RSUs through dividend-equivalent provisions, within prescribed regulatory timeframes.

The disclosure confirms that Hutcheson's address of record is One Gaylord Drive, Nashville, Tennessee 37214, which is consistent with the company's principal executive offices. The filing was submitted as an individual report by a single reporting person rather than as a group filing, and all four RSU tranches are reported as directly owned. The direct ownership designation indicates that Hutcheson holds these RSUs in her own name rather than through a trust, partnership, or other indirect ownership structure.

Implications of the $1.20 Dividend for Ryman Hospitality's Shareholder Distribution Program

The $1.20 per share common stock dividend paid on July 15, 2026 is directly referenced in the disclosure as the catalyst for the RSU adjustments. For investors, the payment of this dividend signals that the company's board had authorized a distribution at that level on that date, consistent with its obligations and strategy as a REIT. The filing does not provide forward-looking commentary on the dividend's sustainability, future dividend declarations, or any associated earnings guidance.

Ryman Hospitality Properties' ability to sustain its dividend program is closely linked to the performance of its Gaylord Hotels portfolio and its entertainment segment, both of which are sensitive to group travel trends, convention booking volumes, consumer spending on live entertainment, and broader macroeconomic conditions. Investors monitoring the company's dividend trajectory may consider reviewing the company's most recent quarterly earnings reports and investor presentations for relevant financial metrics, which are not part of this insider ownership disclosure.

What the Filing Does and Does Not Disclose About Total Executive Equity Holdings

The disclosure is specific to the four RSU tranches identified and the adjustments made on July 15, 2026. It does not provide a comprehensive picture of all equity or other securities held by Jennifer Hutcheson in connection with her role at Ryman Hospitality Properties. Table I of the disclosure — covering non-derivative securities such as direct common stock holdings — contains no reported transactions, meaning no open-market purchases or sales of common stock by the CFO are reflected in this update.

The four RSU tranches are reported under Table II as derivative securities, each with a conversion price of $0 and underlying securities consisting of Ryman Hospitality Properties common stock on a one-to-one basis. The filing does not disclose aggregate RSU totals across all tranches combined, nor does it describe any other outstanding equity awards such as performance share units, stock options, or restricted stock grants that may form part of the CFO's broader compensation arrangement. Investors seeking a complete picture of executive equity holdings should review the company's annual proxy statement and other periodic disclosures filed with the Commission.

Timing and Authorization of the Insider Disclosure

The transaction date, the filing date, and the dividend payment date are all recorded as July 15, 2026, indicating that the RSU adjustments were recognized and reported in alignment with the dividend payment event. The filing notes that the earliest transaction date is July 15, 2026, and the document does not carry an amendment designation, confirming this is an original rather than a corrected submission. The immediate share price impact of this disclosure was not clear from available public information.

Scott J. Lynn signed the filing as Attorney-in-Fact for Jennifer Hutcheson, a practice that allows a designated representative to submit regulatory documents on behalf of a reporting person. This does not alter the substantive content or legal obligations associated with the disclosure. The filing carries standard regulatory reminders that intentional misstatements or omissions of facts constitute federal criminal violations under applicable U.S. law, as noted in the document itself.