secwatch.observer — SEC 8-K summary
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Issuer:     Park Hotels & Resorts Inc. (PK)
CIK:        0001617406
Form:       8-K
Filed at:   2026-09-11T10:01:22+00:00
Accession:  0001193125-26-388548
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Park Hotels EVP/CIO Thomas Morey exits Sept 8, 2026; gets 2.0x severance, vested RSAs
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- Morey, also General Counsel, departed without cause on Sept 8, 2026; separation agreement signed Sept 9, 2026.
- Severance: lump sum equal to 2.0x base salary plus average bonus for last two fiscal years, per Executive Severance Plan.
- Equity: 10,848 (2024) and 28,557 (2025) unvested RSAs fully vest; all 61,971 (2026) RSAs forfeited; PSUs pro-rated.
- Non-compete/non-solicit apply for 12 months, limited to services provided during employment; law practice carve-out.
- COBRA paid for 12 months; severance contingent on release and compliance with restrictive covenants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1617406/000119312526388548/0001193125-26-388548-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1617406/000119312526388548/d122328d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-388548

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