MARRIOTT VACATIONS WORLDWIDE Corp

Marriott Vacations Worldwide announced that Lori Gustafson, Executive Vice President and Chief Brand and Digital Officer, will depart the company effective July 31, 2026, due to the elimination of her position in an internal reorganization. Ms. Gustafson will receive a severance payment of $1,425,000, representing one and a half times her 2026 base salary plus target bonus. She is also eligible for an additional payment based on 2026 performance, with other equity awards treated per existing terms, contingent on a release of claims and restrictive covenants.

Marriott Vacations Worldwide Corporation held its 2026 annual meeting of stockholders, where several key proposals were approved. Stockholders voted to approve the Second Amended and Restated 2020 Equity Incentive Plan, which extends the plan's term through May 15, 2036, and increases the shares available for equity-based awards by 2,500,000. Additionally, the nine director nominees were elected, Ernst & Young LLP was ratified as the independent auditors, and the compensation of named executive officers received advisory approval.

Marriott Vacations Worldwide reported a significant decrease in net income and EPS for Q1 2026, with net income attributable to common stockholders falling to $22 million ($0.64 diluted EPS) from $56 million ($1.46 diluted EPS) in Q1 2025. Total revenues increased slightly to $1.26 billion from $1.20 billion year-over-year. The company also completed the disposition of a hotel in Cancun, Mexico for $50 million, recognizing a $2 million gain. Operating cash flow turned negative for the quarter.

Marriott Vacations Worldwide reported a significant decline in Q1 2026 financial results, with net income attributable to common stockholders falling 61% to $22 million and diluted EPS decreasing 56% to $0.64. Adjusted EBITDA also dropped 16% to $161 million, and contract sales declined 2% to $411 million. Despite the weaker first quarter, the company reiterated its full-year Adjusted EBITDA guidance and raised its full-year contract sales guidance, citing strategic actions like executive team changes, cost reductions, and asset dispositions, including the sale of the Westin Cancun hotel for $50 million.