Business Context and Reporting Period
This Form 8-K Current Report is filed by Park Hotels & Resorts Inc. on September 11, 2026, regarding events occurring on September 8, 2026. The filing addresses the departure of a senior executive and the execution of a separation agreement.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
- Executive Departure: Thomas C. Morey, Executive Vice President and Chief Investment Officer, departed the Company effective September 8, 2026.
- Separation Agreement: A Separation Agreement and Release was entered into on September 9, 2026.
- Severance Terms: Mr. Morey is eligible for severance payments and benefits under the Executive Severance Plan for an Executive Vice President terminated without "cause."
- Conditions: Receipt of benefits is contingent upon a seven-day revocation period and compliance with non-solicitation and non-competition obligations for 12 months.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, or management commentary regarding future financial performance. The primary risk disclosed relates to the loss of a senior executive and the associated severance obligations, which are detailed in the attached Separation Agreement (Exhibit 10.1).
Investor Verification Checklist
- Review the full text of the Separation Agreement (Exhibit 10.1) for specific severance amounts and benefit details.
- Verify the status of the seven-day revocation period for the Separation Agreement.
- Confirm the timeline for the appointment of a new Chief Investment Officer.
- Assess the potential impact of the departure on the Company's investment strategy and capital allocation.