Park Hotels & Resorts Inc. filed a current report on Form 8-K on September 11, 2026, disclosing the departure of Thomas C. Morey, Executive Vice President and Chief Investment Officer, effective September 8, 2026.

Key Highlights

  • Departure effective: Thomas C. Morey's last day as Executive Vice President and Chief Investment Officer was September 8, 2026.
  • Separation Agreement signed: Mr. Morey entered into a Separation Agreement and Release with the company on September 9, 2026.
  • Severance eligibility: Mr. Morey is entitled to severance payments and benefits under the company's Executive Severance Plan, applicable to an Executive Vice President whose employment is terminated without "cause."
  • Revocation period: Mr. Morey has a seven-day revocation period beginning on the date he signed the Separation Agreement.
  • Post-departure obligations: Non-solicitation and non-competition obligations apply for 12 months following the separation date, as set forth in the Severance Plan.
  • General release: Mr. Morey has agreed to a general release of claims against the company pursuant to the Separation Agreement.

Park Hotels & Resorts Discloses Chief Investment Officer Exit and Separation Terms

According to the filing, Park Hotels & Resorts Inc. (NYSE:PK) announced on September 11, 2026 that Thomas C. Morey, who served as Executive Vice President and Chief Investment Officer, departed the company effective September 8, 2026. The company disclosed the separation under Item 5.02 of the Form 8-K, which covers departures of certain officers.

The filing states that Mr. Morey entered into a Separation Agreement and Release with the company on September 9, 2026. Under the terms of that agreement, and subject to Mr. Morey not revoking the agreement during the seven-day revocation period, he is entitled to receive severance payments and benefits as set forth in the company's Executive Severance Plan for an Executive Vice President whose employment is terminated by the company without "cause," as that term is defined in the Severance Plan. The filing notes that receipt of all severance payments and benefits is contingent upon Mr. Morey complying with various requirements.

Those requirements include non-solicitation and non-competition obligations to the company as set forth in the Severance Plan, which the filing states apply for a period of 12 months following the separation date. In addition, the filing discloses that Mr. Morey agreed to a general release of claims against the company. The full text of the Separation Agreement and Release is attached to the filing as Exhibit 10.1. The report was signed by Sean M. Dell'Orto, Executive Vice President, Chief Operating Officer, Chief Financial Officer and Treasurer.

What Was Disclosed

Park Hotels & Resorts Inc. reported the departure of its Chief Investment Officer, Thomas C. Morey, effective September 8, 2026, and disclosed the key terms of the accompanying Separation Agreement and Release entered into on September 9, 2026.