UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
_________________________
Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 23, 2019
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Marriott Vacations Worldwide Corporation
(Exact name of registrant as specified in its charter)
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| Delaware | 001-35219 | 45-2598330 | ||
| (State or other jurisdiction | (Commission | (IRS Employer | ||
| of incorporation) | File Number) | Identification No.) | ||
| 6649 Westwood Blvd. | Orlando | FL | 32821 | ||
| (Address of principal executive offices) | (Zip Code) | ||||
Registrant’s telephone number, including area code (407) 206-6000
N/A
(Former name or former address, if changed since last report)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, $0.01 Par Value | VAC | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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Item 8.01 Other Events
Marriott Vacations Worldwide Corporation (the "Company") announced today the completion of a securitization of a pool of approximately $90 million of vacation ownership loans, and the completion of a new warehouse facility, which has a capacity of $350 million.
The Company also announced on December 19, 2019 that it has closed on the sale of land in Cancun, Mexico and Avon, Colorado for more than $60 million.
A copy of the Company's press release regarding the securitization and warehouse facility is attached as Exhibit 99.1 and is incorporated by reference. A copy of the Company's press release regarding the sale of land in Cancun, Mexico and Avon, Colorado is attached as Exhibit 99.2 and is incorporated by reference.
Item 9.01 Financial Statements and Exhibits
(d) The following exhibits are being filed herewith:
| Exhibit Number | Description | |
| Press release dated December 23, 2019 | ||
| Press release dated December 19, 2019 | ||
| 101 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document | |
| 104 | The cover page from this Current Report on Form 8-K, formatted as Inline XBRL (included as Exhibit 101) | |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MARRIOTT VACATIONS WORLDWIDE CORPORATION | ||
| (Registrant) | ||
| Dated: December 23, 2019 | By: | /s/ John E. Geller, Jr. |
| Name: | John E. Geller, Jr. | |
| Title: | Executive Vice President and Chief Financial and Administrative Officer | |
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