Director George Herrera of Travel & Leisure Co. filed a Form 4 on November 12, 2026, reporting the acquisition of deferred stock units issued as dividend equivalents on June 30, 2026 and September 30, 2026.

Key Highlights

  • First acquisition: 367 deferred stock units were acquired on June 30, 2026 at $0, bringing beneficial ownership to 47,102 shares of common stock.
  • Second acquisition: 456 deferred stock units were acquired on September 30, 2026 at $0, bringing beneficial ownership to 47,558 shares of common stock.
  • Nature of units: According to the filing, the deferred stock units were "issued for dividends," with each unit entitling the reporting person to receive one share of common stock following retirement or termination of service from the Board.
  • Previously reported holdings: The filing also lists 1,353 shares of common stock and 741 restricted stock units as previously reported positions.
  • Signing authority: The form was signed by Jeff J. Zanotti as Attorney-in-Fact for George Herrera.

Herrera's Dividend-Based DSU Grants at Travel & Leisure Co.

Travel & Leisure Co. (NYSE:TNL) director George Herrera reported two separate acquisitions of deferred stock units in a Form 4 filed November 12, 2026. Both transactions carried a price of $0 and were coded as acquisitions (transaction code "A"). The filing identifies the units as dividend-related grants, not open-market purchases.

According to the filing's explanation of responses, the deferred stock units were "issued for dividends." Each unit entitles Herrera to receive one share of common stock following his "retirement or termination of service from the Board of Directors." The June 30, 2026 grant consisted of 367 units, and the September 30, 2026 grant consisted of 456 units. After the first transaction, the filing reports direct beneficial ownership of 47,102 shares; after the second, that figure rose to 47,558 shares.

In addition to the newly reported DSU acquisitions, the filing lists 1,353 shares of common stock and 741 restricted stock units as previously reported holdings. No derivative securities transactions appear in Table II. The form was filed by one reporting person and indicates that Herrera's relationship to the issuer is that of a director.

What Was Disclosed

Director George Herrera disclosed the receipt of 367 and 456 deferred stock units on June 30 and September 30, 2026, respectively, both issued as dividend equivalents at no cost, with settlement deferred until departure from the Board.