UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM8-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 20, 2016
Park Hotels & Resorts Inc.
(Exact Name of Registrant as Specified in its Charter)
| Delaware | 001-37795 | 36-2058176 | ||
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
7930 Jones Branch Drive, Suite 1100 McLean, Virginia | 22102 | |
| (Address of principal executive offices) | (Zip Code) |
(703)883-1000
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form8-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 Rule14a-12 under the Exchange Act (17 CFR240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule14d-2(b) under the Exchange Act (17 CFR240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule13e-4(c) under the Exchange Act (17 CFR240.13e-4(c)) |
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of New Chief Accounting Officer
On December 20, 2016, the Board of Directors of Park Hotels & Resorts Inc. (the “Company”) appointed Mr. Darren W. Robb, age 39, as the Company’s Senior Vice President and Chief Accounting Officer, effective immediately. In this role, Mr. Robb will act as the principal accounting officer of the Company.
Prior to joining the Company, Mr. Robb most recently served as Vice President, Global Head of Financial Reporting & Accounting Policy of Hilton Worldwide Holdings Inc. (“Hilton”) (NYSE: HLT), a hospitality company, from April 2013 until November 2016. Prior to his tenure at Hilton, Mr. Robb served as a senior manager with KPMG LLP, an accounting firm, in that firm’s national office from October 2010 until April 2013. Prior to that, Mr. Robb was in various roles at KPMG LLP from 1999 until 2010, providing audit and advisory services to clients in the real estate and hospitality industries. Mr. Robb received his Bachelor of Business Administration degree from James Madison University and is a CPA, licensed in the Commonwealth of Virginia.
In connection with Mr. Robb’s appointment, he will receive an annual base salary of $325,000 (“Base Salary”) starting from the date of the completion of the previously announcedspin-off of the Company from Hilton, the Company’s parent. Mr. Robb will also be eligible to receive an annual bonus targeted at 45% of his Base Salary and an annual grant of long-term incentive awards targeted at 75% of his Base Salary.
Mr. Robb has no family relationships with any director, executive officer, or person nominated or chosen by the Company to become a director or executive officer of the Company. Mr. Robb is not a party to any transaction required to be disclosed pursuant to Item 404(a) of RegulationS-K.
SIGNATURE
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.
| PARK HOTELS & RESORTS INC. | ||
| By: | /s/ Sean M. Dell’Orto | |
| Sean M. Dell’Orto | ||
| Executive Vice President, Chief Financial Officer and Treasurer | ||
Date: December 27, 2016
