Anthony Capuano, President and CEO of Marriott International Inc /MD/, filed a Form 4 on November 6, 2026, disclosing multiple transactions in Class A Common Stock on November 4, 2026, including the exercise of stock appreciation rights and open-market sales totaling tens of thousands of shares.

Key Highlights

  • SAR exercise: Capuano exercised 16,428 stock appreciation rights (SARs) with an exercise price of $139.54, receiving a net 5,605 shares of Class A Common Stock after 10,823 shares were withheld for the exercise price and tax obligations.
  • Open-market sales: Capuano sold shares across multiple transactions on November 4, 2026, at weighted average prices ranging from approximately $416.00 to $424.03 per share.
  • Gift of shares: Capuano disposed of 5,000 shares via a gift transaction (code G) at $0.0000 on November 4, 2026.
  • Remaining direct ownership: Following all reported transactions, Capuano directly held 50,867 shares of Class A Common Stock.
  • Additional holdings: Capuano also holds 28,040 Class A Common Restricted Stock Units (direct) and 1,958.003 shares indirectly through a 401(k) account.
  • SARs fully exercised: After the exercise, the filing reports 0 SARs with a $139.54 exercise price remaining, with an expiration date of February 20, 2028.

Capuano's November 4, 2026 Transactions in Marriott Class A Common Stock

According to the filing, Anthony Capuano, who serves as both a Director and President and CEO of Marriott International Inc /MD/ (NASDAQ:MAR), reported a series of transactions on November 4, 2026. The activity began with the exercise of 16,428 SARs originally granted on February 20, 2018, which vested in three equal installments beginning on the first anniversary of the grant date. The filing states that 10,823 shares were withheld to cover the exercise price and satisfy tax withholding obligations, resulting in a net acquisition of 5,605 shares at the SAR exercise price of $139.54.

Following the SAR exercise, the filing discloses that Capuano sold shares in numerous separate transactions throughout the same day. These sales ranged in size from 80 shares at a weighted average price of $423.54 to 16,604 shares at a weighted average price of $421.9747. The filing provides footnoted detail on the minimum and maximum prices within each weighted average sale. Additionally, Capuano disposed of 5,000 shares via a gift at $0.0000. A separate tax-related withholding transaction (code F) of 10,823 shares at $424.15 is also reported in connection with the SAR exercise.

After all reported transactions, the filing indicates Capuano's direct beneficial ownership stood at 50,867 shares of Class A Common Stock. He also holds 28,040 Restricted Stock Units in Class A Common stock directly, and 1,958.003 shares indirectly through a 401(k) account, according to the filing. The form was signed by Andrew P.C. Wright as Attorney-in-Fact and filed on November 6, 2026.

What Was Disclosed

The filing disclosed Anthony Capuano's exercise of 16,428 SARs, multiple open-market share sales, a gift of 5,000 shares, and tax-withholding share dispositions on November 4, 2026, resulting in direct ownership of 50,867 shares of Marriott Class A Common Stock.