Director Stephen P. Holmes filed a Form 4 with the SEC on November 12, 2026, disclosing the acquisition of deferred stock units in Travel & Leisure Co. (NYSE:TNL) through dividend payments on two separate dates in 2026.

Key Highlights

  • First acquisition: Holmes received 425 deferred stock units on June 30, 2026, at a price of $0, issued as dividends.
  • Second acquisition: Holmes received 530 deferred stock units on September 30, 2026, at a price of $0, also issued as dividends.
  • Direct holdings after transactions: Holmes directly owned 55,166 shares of common stock following the September 30 transaction.
  • Additional holdings: The filing also reports 346,947 previously reported shares and 741 previously reported restricted stock units held directly.
  • Nature of DSUs: Each deferred stock unit entitles Holmes to receive one share of common stock following his retirement or termination of service from the Board of Directors.
  • Role: Holmes is listed as a Director of Travel & Leisure Co.

Holmes Accumulates Dividend-Based Deferred Stock Units at Travel & Leisure

According to the filing, Director Stephen P. Holmes acquired a combined 955 deferred stock units (DSUs) in Travel & Leisure Co. across two transactions. The first grant of 425 DSUs occurred on June 30, 2026, and the second grant of 530 DSUs followed on September 30, 2026. Both transactions carried a price of $0, as the units were issued for dividends rather than purchased on the open market.

The filing states that each deferred stock unit "entitles the reporting person to receive one share of common stock following the reporting person's retirement or termination of service from the Board of Directors." Following the June 30 transaction, Holmes directly held 54,636 shares of common stock. After the September 30 transaction, that direct total rose to 55,166 shares.

In addition to these directly held shares, the filing separately reports 346,947 previously reported shares of common stock and 741 previously reported restricted stock units, both held directly by Holmes. No derivative securities transactions were reported in Table II. The Form 4 was signed by Jeff J. Zanotti as Attorney-in-Fact for Stephen P. Holmes and filed on November 12, 2026.

What Was Disclosed

The filing disclosed two dividend-based deferred stock unit awards to Director Stephen P. Holmes - 425 units on June 30, 2026, and 530 units on September 30, 2026 - both at $0 cost, bringing his directly held common stock total to 55,166 shares.