J.W. Marriott, Jr.

Activist

First SEC filing: Jan. 20, 2026 · Latest: Jan. 20, 2026

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Insider at Companies where this person is a reporting insider.
Insider transactions Every share this person bought or sold, from Form 4 filings.
Derivatives Options and other derivative holdings reported by this person.
Initial holdings The stakes this person held when they first started reporting.

Insider at

Insider transactions

0 buys (P) 0 sells (S) Net: $0 + 74 non-open-market transactions below last 12 months, based on the transactions shown below

Price change vs current quote, split-adjusted for corporate actions since the filing — not benchmarked, not annualized, not size-weighted

74 other filings hidden

Date	Ticker	Code	Shares	Price	Value	Owned after	Δ own	A/D	vs now
June 10, 2026	MAR	G	17,500	—	—	2,540,056 Direct	-0.68%	Disposed	(price as of 2026-08-20)
May 18, 2026	MAR	G	52	—	—	2,557,556 Direct	0.00%	Disposed	(price as of 2026-08-20)
May 8, 2026	MAR	G	2,340	—	—	2,557,556 Direct	-0.09%	Disposed	(price as of 2026-08-20)
Dec. 3, 2025	MAR	G	123	—	—	2,559,896 Direct	0.00%	Disposed	(price as of 2026-08-20)
Nov. 17, 2025	MAR	G	380	—	—	2,560,019 Direct	-0.01%	Disposed	(price as of 2026-08-20)
Nov. 14, 2025	MAR	G	5,148	—	—	2,560,399 Direct	-0.20%	Disposed	(price as of 2026-08-20)
Dec. 20, 2024	MAR	G	125	—	—	285,883 Indirect	+0.04%	Acquired	(price as of 2026-08-20)
Dec. 20, 2024	MAR	G	5,298	—	—	2,565,547 Direct	-0.21%	Disposed	(price as of 2026-08-20)
Dec. 5, 2024	MAR	G	170,038	—	—	2,720,608 Indirect	-5.88%	Disposed	(price as of 2026-08-20)
Dec. 15, 2023	MAR	G	85,019	—	—	2,890,646 Indirect	-2.86%	Disposed	(price as of 2026-08-20)
Dec. 5, 2022	MAR	G	170,038	—	—	2,975,665 Indirect	-5.41%	Disposed	(price as of 2026-08-20)
June 21, 2022	MAR	G	67,125	—	—	2,570,845 Direct	-2.54%	Disposed	(price as of 2026-08-20)
Dec. 6, 2021	MAR	G	170,038	—	—	3,145,703 Indirect	-5.13%	Disposed	(price as of 2026-08-20)
Feb. 17, 2021	MAR	A	190,236	$131.34	$24,985,596	557,538 Direct	+51.79%	Acquired	172.3% (price as of 2026-08-20)
Feb. 17, 2021	MAR	F	119,568	$131.34	$15,704,061	437,970 Direct	-21.45%	Disposed	172.3% (price as of 2026-08-20)
Feb. 17, 2021	MAR	M	190,236	—	—	0 Direct	-100.00%	Disposed	(price as of 2026-08-20)
Dec. 14, 2020	MAR	J	85,019	—	—	3,315,741 Indirect	-2.50%	Disposed	(price as of 2026-08-20)
Feb. 14, 2020	MAR	A	119,778	—	—	398,064 Direct	+43.04%	Acquired	(price as of 2026-08-20)
Feb. 14, 2020	MAR	M	278,588	$114.90	$32,009,761	278,588 Direct	—	Acquired	211.3% (price as of 2026-08-20)
Dec. 3, 2019	MAR	G	255,057	—	—	3,400,760 Indirect	-6.98%	Disposed	(price as of 2026-08-20)
March 4, 2019	MAR	S	27	$124.42	$3,359	4,846,083 Indirect	0.00%	Disposed	187.5% (price as of 2026-08-20)
March 4, 2019	MAR	G	1,190,266	—	—	3,655,817 Indirect	-24.56%	Disposed	(price as of 2026-08-20)
May 11, 2018	MAR	G	19,350	—	—	1,670,013 Indirect	-1.15%	Disposed	(price as of 2026-08-20)
Nov. 8, 2017	VAC	G	28,917	—	—	50,526 Indirect	-36.40%	Disposed	(price as of 2026-08-20)
Sept. 6, 2017	MAR	S	26,362	$101.78	$2,683,124	203,286 Direct	-11.48%	Disposed	251.4% (price as of 2026-08-20)
Sept. 6, 2017	MAR	M	80,000	—	—	0 Direct	-100.00%	Disposed	(price as of 2026-08-20)
Sept. 6, 2017	VAC	M	14,730	—	—	0 Direct	-100.00%	Disposed	(price as of 2026-08-20)
Sept. 6, 2017	VAC	S	1,100	$114.92	$126,412	0 Direct	-100.00%	Disposed	-2.4% (price as of 2026-08-20)
Sept. 6, 2017	VAC	S	4,862	$114.01	$554,317	1,100 Direct	-81.55%	Disposed	-1.6% (price as of 2026-08-20)
Sept. 6, 2017	VAC	F	6,182	$116.28	$718,843	5,962 Direct	-50.91%	Disposed	-3.5% (price as of 2026-08-20)
Sept. 6, 2017	VAC	M	12,144	$20.41	$247,859	12,144 Direct	—	Acquired	449.7% (price as of 2026-08-20)
Sept. 5, 2017	MAR	S	10,376	$102.01	$1,058,456	229,648 Direct	-4.32%	Disposed	250.6% (price as of 2026-08-20)
Sept. 5, 2017	MAR	M	31,467	—	—	80,000 Direct	-28.23%	Disposed	(price as of 2026-08-20)
March 23, 2017	MAR	A	35,059	—	—	275,083 Direct	+14.61%	Acquired	(price as of 2026-08-20)
March 23, 2017	MAR	S	35,059	$93.42	$3,275,212	240,024 Direct	-12.74%	Disposed	282.9% (price as of 2026-08-20)
March 23, 2017	MAR	M	112,000	—	—	111,467 Direct	-50.12%	Disposed	(price as of 2026-08-20)
March 22, 2017	VAC	M	15,000	—	—	14,730 Direct	-50.45%	Disposed	(price as of 2026-08-20)
March 22, 2017	VAC	S	5,788	$95.33	$551,770	0 Direct	-100.00%	Disposed	17.7% (price as of 2026-08-20)
March 22, 2017	VAC	F	6,001	$95.37	$572,315	5,788 Direct	-50.90%	Disposed	17.6% (price as of 2026-08-20)
March 22, 2017	VAC	M	11,789	$20.41	$240,613	11,789 Direct	—	Acquired	449.7% (price as of 2026-08-20)
March 6, 2017	MAR	G	20,837	—	—	1,689,363 Indirect	-1.22%	Disposed	(price as of 2026-08-20)
Feb. 27, 2017	VAC	M	15,000	—	—	29,730 Direct	-33.53%	Disposed	(price as of 2026-08-20)
Feb. 27, 2017	VAC	S	1,900	$97.71	$185,649	0 Direct	-100.00%	Disposed	14.8% (price as of 2026-08-20)
Feb. 27, 2017	VAC	S	5,420	$96.87	$525,035	1,900 Direct	-74.04%	Disposed	15.8% (price as of 2026-08-20)
Feb. 27, 2017	VAC	F	4,567	$98.39	$449,347	7,320 Direct	-38.42%	Disposed	14.0% (price as of 2026-08-20)
Feb. 27, 2017	VAC	M	11,887	$20.41	$242,614	11,887 Direct	—	Acquired	449.7% (price as of 2026-08-20)
Feb. 27, 2017	MAR	A	33,892	—	—	273,916 Direct	+14.12%	Acquired	(price as of 2026-08-20)
Feb. 27, 2017	MAR	S	33,892	$87.40	$2,962,161	240,024 Direct	-12.37%	Disposed	309.3% (price as of 2026-08-20)
Feb. 27, 2017	MAR	D	112,000	—	—	223,467 Direct	-33.39%	Disposed	(price as of 2026-08-20)
Nov. 30, 2016	VAC	G	25,000	—	—	79,443 Indirect	-23.94%	Disposed	(price as of 2026-08-20)
Oct. 20, 2016	VAC	G	29,000	—	—	104,443 Indirect	-21.73%	Disposed	(price as of 2026-08-20)
Sept. 22, 2016	MAR	S	28,515	$70.14	$2,000,042	561,122 Indirect	-4.84%	Disposed	410.0% (price as of 2026-08-20)
June 22, 2016	MAR	D	111,837	—	—	335,467 Direct	-25.00%	Disposed	(price as of 2026-08-20)
June 22, 2016	MAR	S	30,000	$67.81	$2,034,300	240,024 Direct	-11.11%	Disposed	427.5% (price as of 2026-08-20)
June 22, 2016	MAR	A	30,000	—	—	270,024 Direct	+12.50%	Acquired	(price as of 2026-08-20)
Nov. 17, 2015	MAR	G	136,426	—	—	367,484 Indirect	-27.07%	Disposed	(price as of 2026-08-20)
Sept. 16, 2015	MAR	S	34,550	$72.45	$2,503,148	589,637 Indirect	-5.54%	Disposed	393.7% (price as of 2026-08-20)
Aug. 20, 2015	VAC	S	25,000	$75.88	$1,897,000	54,582 Indirect	-31.41%	Disposed	47.8% (price as of 2026-08-20)
May 15, 2015	VAC	G	339	—	—	158,443 Direct	-0.21%	Disposed	(price as of 2026-08-20)
March 19, 2015	VAC	G	324	—	—	28,576 Indirect	+1.15%	Acquired	(price as of 2026-08-20)
March 19, 2015	VAC	G	4,097	—	—	158,782 Direct	+2.65%	Acquired	(price as of 2026-08-20)
March 19, 2015	VAC	G	32,349	—	—	0 Indirect	-100.00%	Disposed	(price as of 2026-08-20)
March 19, 2015	MAR	G	3,234	—	—	285,758 Indirect	+1.14%	Acquired	(price as of 2026-08-20)
March 19, 2015	MAR	G	323,496	—	—	0 Indirect	-100.00%	Disposed	(price as of 2026-08-20)
March 19, 2015	MAR	G	40,954	—	—	240,024 Direct	+20.57%	Acquired	(price as of 2026-08-20)
Feb. 17, 2015	MAR	F	7,524	$80.04	$602,221	0 Direct	-100.00%	Disposed	346.9% (price as of 2026-08-20)
Feb. 17, 2015	VAC	F	935	$77.14	$72,126	154,685 Direct	-0.60%	Disposed	45.4% (price as of 2026-08-20)
Feb. 15, 2015	VAC	M	1,836	—	—	155,620 Direct	+1.19%	Acquired	(price as of 2026-08-20)
Feb. 15, 2015	VAC	M	1,836	—	—	0 Direct	-100.00%	Disposed	(price as of 2026-08-20)
Dec. 12, 2014	VAC	G	82,000	—	—	153,784 Direct	-34.78%	Disposed	(price as of 2026-08-20)
Dec. 8, 2014	VAC	G	36,900	—	—	235,784 Direct	-13.53%	Disposed	(price as of 2026-08-20)
Dec. 1, 2014	MAR	S	16,075	$77.79	$1,250,474	624,187 Indirect	-2.51%	Disposed	359.8% (price as of 2026-08-20)
Nov. 12, 2014	VAC	G	40,780	—	—	272,684 Direct	-13.01%	Disposed	(price as of 2026-08-20)
Nov. 3, 2014	VAC	M	21,138	—	—	0 Direct	-100.00%	Disposed	(price as of 2026-08-20)
Nov. 3, 2014	VAC	S	21,138	$69.70	$1,473,319	313,464 Direct	-6.32%	Disposed	61.0% (price as of 2026-08-20)
Nov. 3, 2014	VAC	M	21,138	$18.47	$390,419	334,602 Direct	+6.74%	Acquired	507.4% (price as of 2026-08-20)
Oct. 31, 2014	VAC	M	3,462	—	—	21,138 Direct	-14.07%	Disposed	(price as of 2026-08-20)
Oct. 31, 2014	VAC	S	3,462	$69.68	$241,232	313,464 Direct	-1.09%	Disposed	61.0% (price as of 2026-08-20)
Oct. 31, 2014	VAC	M	3,462	$18.47	$63,943	316,926 Direct	+1.10%	Acquired	507.4% (price as of 2026-08-20)
Oct. 31, 2014	MAR	M	121,000	—	—	0 Direct	-100.00%	Disposed	(price as of 2026-08-20)
Oct. 31, 2014	MAR	S	16,555	$75.52	$1,250,234	640,262 Indirect	-2.52%	Disposed	373.6% (price as of 2026-08-20)
Oct. 31, 2014	MAR	S	107,500	$75.62	$8,129,150	188,229 Direct	-36.35%	Disposed	373.0% (price as of 2026-08-20)
Oct. 31, 2014	MAR	S	13,500	$76.65	$1,034,775	295,729 Direct	-4.37%	Disposed	366.7% (price as of 2026-08-20)
Oct. 31, 2014	MAR	M	121,000	$32.16	$3,891,360	309,229 Direct	+64.28%	Acquired	1012.2% (price as of 2026-08-20)
Sept. 26, 2014	MAR	M	99,667	—	—	121,000 Direct	-45.17%	Disposed	(price as of 2026-08-20)
Sept. 26, 2014	MAR	S	99,667	$70.75	$7,051,440	188,229 Direct	-34.62%	Disposed	405.6% (price as of 2026-08-20)
Sept. 26, 2014	MAR	M	99,667	$32.16	$3,205,291	287,896 Direct	+52.95%	Acquired	1012.2% (price as of 2026-08-20)
Sept. 19, 2014	MAR	M	25,333	—	—	220,667 Direct	-10.30%	Disposed	(price as of 2026-08-20)
Sept. 19, 2014	MAR	S	25,333	$72.54	$1,837,656	188,229 Direct	-11.86%	Disposed	393.1% (price as of 2026-08-20)
Sept. 19, 2014	MAR	M	25,333	$32.16	$814,709	213,562 Direct	+13.46%	Acquired	1012.2% (price as of 2026-08-20)
Aug. 15, 2014	VAC	S	12,000	$59.27	$711,240	313,464 Direct	-3.69%	Disposed	89.3% (price as of 2026-08-20)
Aug. 15, 2014	VAC	M	12,000	$9.52	$114,240	325,464 Direct	+3.83%	Acquired	1078.4% (price as of 2026-08-20)
Aug. 14, 2014	VAC	M	12,000	—	—	0 Direct	-100.00%	Disposed	(price as of 2026-08-20)
Aug. 14, 2014	VAC	M	12,000	—	—	12,000 Direct	-50.00%	Disposed	(price as of 2026-08-20)
Aug. 14, 2014	VAC	S	12,000	$59.46	$713,520	313,464 Direct	-3.69%	Disposed	88.7% (price as of 2026-08-20)
Aug. 14, 2014	VAC	M	12,000	$9.52	$114,240	325,464 Direct	+3.83%	Acquired	1078.4% (price as of 2026-08-20)
Aug. 13, 2014	VAC	M	10,780	—	—	24,000 Direct	-30.99%	Disposed	(price as of 2026-08-20)
Aug. 13, 2014	VAC	S	10,780	$59.78	$644,428	313,464 Direct	-3.32%	Disposed	87.7% (price as of 2026-08-20)
Aug. 13, 2014	VAC	M	10,780	$9.52	$102,626	324,244 Direct	+3.44%	Acquired	1078.4% (price as of 2026-08-20)
Aug. 4, 2014	MAR	S	25,000	$65.00	$1,625,000	95,207 Indirect	-20.80%	Disposed	450.3% (price as of 2026-08-20)

Showing latest 100 of 563 transactions

P = Open-market purchase · S = Sale · A = Grant/award · M = Option exercise · G = Gift · F = Tax withholding

Insider transactions are not a recommendation; sales are often driven by liquidity or tax reasons.

Derivative holdings (Form 4 Table II)

Options, RSUs and convertible securities reported on Form 4 Table II.

Date	Ticker	Security	Underlying	Exercise price	Expiration	Shares	A/D
Feb. 17, 2021	MAR	Stock Appreciation Rights	Class A Common Stock (190,236)	$40.84	Feb. 17, 2022	190,236	Disposed
Feb. 14, 2020	MAR	Stock Appreciation Rights	Class A Common Stock (278,588)	$26.99	Feb. 14, 2020	278,588	Acquired
Sept. 6, 2017	MAR	Stock Appreciation Rights	Class A Common Stock (80,000)	$35.54	Feb. 19, 2018	80,000	Disposed
Sept. 6, 2017	VAC	Stock Appreciation Right	Common (14,730)	$20.41	Feb. 19, 2018	14,730	Disposed
Sept. 5, 2017	MAR	Stock Appreciation Rights	Class A Common Stock (31,467)	$35.54	Feb. 19, 2018	31,467	Disposed
March 23, 2017	MAR	Stock Appreciation Rights	Class A Common Stock (112,000)	$35.54	Feb. 19, 2018	112,000	Disposed
March 22, 2017	VAC	Stock Appreciation Right	Common (15,000)	$20.41	Feb. 19, 2018	15,000	Disposed
Feb. 27, 2017	VAC	Stock Appreciation Right	Common Stock (15,000)	$20.41	Feb. 19, 2018	15,000	Disposed
Feb. 27, 2017	MAR	Stock Appreciation Rights	Class A Common Stock (112,000)	$35.54	Feb. 19, 2018	112,000	Disposed
June 22, 2016	MAR	Stock Appreciation Rights	Class A Common Stock (111,837)	$35.54	Feb. 19, 2018	111,837	Disposed
Nov. 3, 2014	VAC	Stock Options (Right to Buy)	Common Stock (21,138)	$18.47	Feb. 10, 2015	21,138	Disposed
Oct. 31, 2014	VAC	Stock Options (Right to Buy)	Common Stock (3,462)	$18.47	Feb. 10, 2015	3,462	Disposed
Oct. 31, 2014	MAR	Stock Option (Right to buy)	Class A Common Stock (121,000)	$32.16	Feb. 10, 2015	121,000	Disposed
Sept. 26, 2014	MAR	Stock Option (Right to buy)	Class A Common Stock (99,667)	$32.16	Feb. 10, 2015	99,667	Disposed
Sept. 19, 2014	MAR	Stock Option (Right to buy)	Class A Common Stock (25,333)	$32.16	Feb. 10, 2015	25,333	Disposed
Aug. 14, 2014	VAC	Stock Options (Right to Buy)	Common Stock (12,000)	$9.52	Nov. 4, 2014	12,000	Disposed
Aug. 14, 2014	VAC	Stock Options (Right to Buy)	Common Stock (12,000)	$9.52	Nov. 4, 2014	12,000	Disposed
Aug. 13, 2014	VAC	Stock Options (Right to Buy)	Common Stock (10,780)	$9.52	Nov. 4, 2014	10,780	Disposed
June 23, 2014	MAR	Stock Option (Right to buy)	Class A Common Stock (100,000)	$16.58	Nov. 4, 2014	100,000	Disposed
June 20, 2014	MAR	Stock Option (Right to buy)	Class A Common Stock (100,000)	$16.58	Nov. 4, 2014	100,000	Disposed
June 19, 2014	MAR	Stock Option (Right to buy)	Class A Common Stock (100,000)	$16.58	Nov. 4, 2014	100,000	Disposed
May 23, 2014	MAR	Stock Option (Right to buy)	Class A Common Stock (28,995)	$16.58	Nov. 4, 2014	28,995	Disposed
May 22, 2014	MAR	Stock Option (Right to buy)	Class A Common Stock (68,048)	$16.58	Nov. 4, 2014	68,048	Disposed
May 13, 2014	VAC	Stock Options (Right to Buy)	Common Stock (25,220)	$9.52	Nov. 4, 2014	25,220	Disposed
May 13, 2014	MAR	Stock Option (Right to buy)	Class A Common Stock (52,957)	$16.58	Nov. 4, 2014	52,957	Disposed
May 12, 2014	MAR	Stock Option (Right to buy)	Class A Common Stock (150,000)	$16.58	Nov. 4, 2014	150,000	Disposed
Nov. 15, 2013	MAR	Stock Option (Right to buy)	Class A Common Stock (115,196)	$22.81	Feb. 5, 2014	115,196	Disposed
Nov. 14, 2013	MAR	Stock Option (Right to buy)	Class A Common Stock (150,000)	$22.81	Feb. 5, 2014	150,000	Disposed
Nov. 13, 2013	MAR	Stock Option (Right to buy)	Class A Common Stock (125,000)	$22.81	Feb. 5, 2014	125,000	Disposed
Nov. 11, 2013	MAR	Stock Option (Right to buy)	Class A Common Stock (150,000)	$16.58	Nov. 4, 2014	150,000	Disposed
Nov. 8, 2013	MAR	Stock Option (Right to buy)	Class A Common Stock (100,000)	$22.81	Feb. 5, 2014	100,000	Disposed
Nov. 7, 2013	MAR	Stock Option (Right to buy)	Class A Common Stock (18,604)	$22.81	Feb. 5, 2014	18,604	Disposed
Dec. 14, 2012	MAR	Stock Option (Right to buy)	Class A Common Stock (19,103)	$14.11	Nov. 5, 2013	19,103	Disposed
Dec. 12, 2012	MAR	Stock Option (Right to buy)	Class A Common Stock (36,897)	$14.11	Nov. 5, 2013	36,897	Disposed
Dec. 7, 2012	VAC	Stock Options (Right to Buy)	Common Stock (5,699)	$13.10	Feb. 5, 2014	5,699	Disposed
Dec. 3, 2012	VAC	Stock Options (Right to Buy)	Common Stock (7,569)	$13.10	Feb. 5, 2014	7,569	Disposed
Nov. 30, 2012	VAC	Stock Options (Right to Buy)	Common Stock (1,612)	$13.10	Feb. 5, 2014	1,612	Disposed
Nov. 29, 2012	VAC	Stock Options (Right to Buy)	Common Stock (700)	$13.10	Feb. 5, 2014	700	Disposed
Nov. 29, 2012	MAR	Stock Option (Right to buy)	Class A Common Stock (200,000)	$14.11	Nov. 5, 2013	200,000	Disposed
Nov. 29, 2012	MAR	Stock Option (Right to buy)	Class A Common Stock (128,000)	$14.11	Nov. 5, 2013	128,000	Disposed
Nov. 28, 2012	VAC	Stock Options (Right to Buy)	Common Stock (10,000)	$13.10	Feb. 5, 2014	10,000	Disposed
Nov. 27, 2012	VAC	Stock Options (Right to Buy)	Common Stock (30,300)	$13.10	Feb. 5, 2014	30,300	Disposed
Nov. 26, 2012	VAC	Stock Options (Right to Buy)	Common Stock (10,000)	$13.10	Feb. 5, 2014	10,000	Disposed
Nov. 19, 2012	VAC	Stock Options (Right to Buy)	Common Stock (38,400)	$8.10	Nov. 5, 2013	38,400	Disposed
Nov. 19, 2012	MAR	Stock Option (Right to buy)	Class A Common Stock (168,224)	$15.10	Feb. 6, 2013	168,224	Disposed
Nov. 16, 2012	MAR	Stock Option (Right to buy)	Class A Common Stock (35,271)	$15.10	Feb. 6, 2013	35,271	Disposed
Nov. 16, 2012	VAC	Stock Options (Right to Buy)	Common Stock (42,756)	$8.68	Feb. 6, 2013	42,756	Disposed
Nov. 13, 2012	VAC	Stock Options (Right to Buy)	Common Stock (20,144)	$8.68	Feb. 6, 2013	20,144	Disposed
Nov. 5, 2012	VAC	Stock Options (Right to Buy)	Common Stock (22,000)	$8.68	Feb. 6, 2013	22,000	Disposed
Nov. 5, 2012	MAR	Stock Option (Right to buy)	Class A Common Stock (100,000)	$15.10	Feb. 6, 2013	100,000	Disposed
Nov. 2, 2012	VAC	Stock Options (Right to Buy)	Common Stock (28,100)	$8.68	Feb. 6, 2013	28,100	Disposed
Nov. 2, 2012	MAR	Stock Option (Right to buy)	Class A Common Stock (196,505)	$15.10	Feb. 6, 2013	196,505	Disposed
Nov. 2, 2012	MAR	Stock Option (Right to buy)	Class A Common Stock (100,000)	$15.10	Feb. 6, 2013	100,000	Disposed
Sept. 7, 2012	MAR	Stock Option (Right to buy)	Class A Common Stock (530,000)	$15.10	Feb. 6, 2013	530,000	Disposed
July 24, 2012	MAR	Stock Option (Right to buy)	Class A Common Stock (137,600)	$15.27	Nov. 6, 2012	137,600	Disposed
March 13, 2012	MAR	Stock Option (Right to buy)	Class A Common Stock (4,085)	$15.52	Nov. 6, 2012	4,085	Disposed
March 12, 2012	MAR	Stock Option (Right to buy)	Class A Common Stock (133,517)	$15.52	Nov. 6, 2012	133,517	Disposed
Dec. 29, 2011	VAC	Stock Option (Right to Buy)	Common Stock (69,900)	$10.82	Feb. 19, 2012	69,900	Disposed
Dec. 23, 2011	VAC	Stock Option (Right to Buy)	Common Stock (10,000)	$10.82	Feb. 19, 2012	10,000	Disposed
Dec. 23, 2011	MAR	Stock Option (Right to buy)	Class A Common Stock (50,000)	$18.84	Feb. 19, 2012	50,000	Disposed
Dec. 22, 2011	VAC	Stock Option (Right to Buy)	Common Stock (100)	$10.82	Feb. 19, 2012	100	Disposed
Dec. 22, 2011	MAR	Stock Option (Right to buy)	Class A Common Stock (250,000)	$18.84	Feb. 19, 2012	250,000	Disposed
Dec. 21, 2011	MAR	Stock Option (Right to buy)	Class A Common Stock (500,000)	$18.84	Feb. 19, 2012	500,000	Disposed
Aug. 29, 2011	MAR	Stock Option (Right to buy)	Class A Common Stock (156,316)	$12.35	Nov. 7, 2011	156,316	Disposed
Aug. 11, 2011	MAR	Stock Option (Right to buy)	Class A Common Stock (156,316)	$12.55	Nov. 7, 2011	156,316	Disposed
Feb. 17, 2011	MAR	Stock Appreciation Rights	Class A Common Stock (190,236)	$40.84	Feb. 17, 2022	190,236	Acquired
Nov. 11, 2010	MAR	Stock Option (Right to buy)	Class A Common Stock (200,000)	$22.87	Feb. 1, 2011	200,000	Disposed
Nov. 10, 2010	MAR	Stock Option (Right to buy)	Class A Common Stock (150,000)	$22.87	Feb. 1, 2011	150,000	Disposed
Nov. 5, 2010	MAR	Stock Option (Right to buy)	Class A Common Stock (350,000)	$22.87	Feb. 1, 2011	350,000	Disposed
Sept. 1, 2010	MAR	Stock Option (Right to buy)	Class A Common Stock (95,162)	$8.51	Nov. 2, 2010	95,162	Disposed
Sept. 1, 2010	MAR	Stock Option (Right to buy)	Class A Common Stock (20,162)	$8.38	Nov. 2, 2010	20,162	Disposed
April 26, 2010	MAR	Stock Option (Right to buy)	Class A Common Stock (200,000)	$8.38	Nov. 2, 2010	200,000	Disposed
March 25, 2010	MAR	Stock Option (Right to buy)	Class A Common Stock (125,000)	$8.51	Nov. 2, 2010	125,000	Disposed
Feb. 16, 2010	MAR	Stock Appreciation Rights	Class A Common Stock (278,588)	$26.99	Feb. 16, 2020	278,588	Acquired
April 27, 2009	MAR	Stock Option (Right to buy)	Class A Common Stock (100,000)	$6.56	Nov. 3, 2009	100,000	Disposed
March 26, 2009	MAR	Stock Option (Right to buy)	Class A Common Stock (98,146)	$6.56	Nov. 3, 2009	98,146	Disposed
March 10, 2009	MAR	Stock Option (Right to buy)	Class A Common Stock (198,146)	$6.67	Nov. 3, 2009	198,146	Disposed
May 12, 2008	MAR	Stock Option (Right to buy)	Class A Common Stock (99,154)	$5.87	Oct. 14, 2008	99,154	Disposed
May 7, 2008	MAR	Stock Option (Right to buy)	Class A Common Stock (30,000)	$5.87	Oct. 14, 2008	30,000	Disposed
May 6, 2008	MAR	Stock Option (Right to buy)	Class A Common Stock (80,000)	$5.87	Oct. 14, 2008	80,000	Disposed
Feb. 27, 2008	MAR	Class A Employee Stock Option (Right to buy)	Class A Common Stock (209,154)	$5.97	Oct. 14, 2008	209,154	Disposed
Feb. 19, 2008	MAR	Stock Appreciation Rights	Class A Common Stock (447,304)	$35.54	Feb. 19, 2018	447,304	Acquired
Aug. 24, 2007	MAR	Class A Employee Stock Option (Right to buy)	Class A Common Stock (126,200)	$3.60	Oct. 20, 2007	126,200	Disposed
Aug. 6, 2007	MAR	Class A Employee Stock Option (Right to buy)	Class A Common Stock (120,000)	$3.60	Oct. 20, 2007	120,000	Disposed
July 25, 2007	MAR	Class A Employee Stock Option (Right to buy)	Class A Common Stock (4,786)	$3.60	Oct. 20, 2007	4,786	Disposed
March 19, 2007	MAR	Class A Employee Stock Option (Right to buy)	Class A Common Stock (152,300)	$3.66	Oct. 20, 2007	152,300	Disposed
March 15, 2007	MAR	Class A Employee Stock Option (Right to buy)	Class A Common Stock (98,686)	$3.66	Oct. 20, 2007	98,686	Disposed
Jan. 8, 2007	MAR	Class A Employee Stock Option (Right to buy)	Class A Common Stock (495,364)	$12.21	Feb. 6, 2007	495,364	Disposed
Oct. 23, 2006	MAR	Class A Employee Stock Option (Right to buy)	Class A Common Stock (495,366)	$12.41	Feb. 6, 2007	495,366	Disposed
Aug. 30, 2006	MAR	Class A Employee Stock Option (Right to buy)	Class A Common Stock (140,204)	$2.94	Oct. 3, 2006	140,204	Disposed
June 16, 2006	MAR	Class A Employee Stock Option (Right to buy)	Class A Common Stock (135,000)	$2.94	Oct. 3, 2006	135,000	Disposed
March 15, 2006	MAR	Class A Employee Stock Option (Right to buy)	Class A Common Stock (100,000)	$5.97	Oct. 3, 2006	100,000	Disposed
March 14, 2006	MAR	Class A Employee Stock Option (Right to buy)	Class A Common Stock (37,602)	$5.97	Oct. 3, 2006	37,602	Disposed
Sept. 7, 2005	MAR	Class A Employee Stock Option (Right to buy)	Class A Common Stock (124,659)	$3.19	Oct. 12, 2005	124,659	Disposed
May 24, 2005	MAR	Class A Employee Stock Option (Right to buy)	Class A Common Stock (90,000)	$3.19	Oct. 12, 2005	90,000	Disposed
May 24, 2005	MAR	Class A Employee Stock Option (Right to buy)	Class A Common Stock (35,000)	$3.24	Oct. 12, 2005	35,000	Disposed
Feb. 10, 2005	MAR	Class A Employee Stock Option (Right to buy)	Class A Common Stock (123,000)	$64.32	Feb. 10, 2015	123,000	Acquired
May 5, 2004	MAR	Class A Employee Stock Option (Right to buy)	Class A Common Stock (179,659)	$3.24	Oct. 12, 2005	179,659	Disposed
Feb. 5, 2004	MAR	Class A Employee Stock Option (Right to buy)	Class A Common Stock (329,400)	$45.62	Feb. 5, 2014	329,400	Acquired

Exercise/conversion price is blank when not applicable (e.g. RSUs).

Initial ownership (Form 3) 48 holdings

Securities held when first becoming an insider, per SEC Form 3.

Date	Ticker	Security	Shares	Ownership
Dec. 19, 2011	VAC	Stock Appreciation Rights→ Common Stock (44,730)	44,730	Direct
Dec. 19, 2011	VAC	Stock Appreciation Rights→ Common Stock (27,858)	27,858	Direct
Dec. 19, 2011	VAC	Stock Appreciation Rights→ Common Stock (19,023)	19,023	Direct
Dec. 19, 2011	VAC	Stock Options→ Common Stock (13,760)	13,760	Direct
Dec. 19, 2011	VAC	Stock Options→ Common Stock (13,760)	13,760	Direct
Dec. 19, 2011	VAC	Stock Options→ Common Stock (38,400)	38,400	Direct
Dec. 19, 2011	VAC	Stock Options→ Common Stock (60,000)	60,000	Direct
Dec. 19, 2011	VAC	Stock Options→ Common Stock (80,000)	80,000	Direct
Dec. 19, 2011	VAC	Stock Options→ Common Stock (113,000)	113,000	Direct
Dec. 19, 2011	VAC	Stock Options→ Common Stock (65,880)	65,880	Direct
Dec. 19, 2011	VAC	Stock Options→ Common Stock (24,600)	24,600	Direct
Nov. 30, 2011	VAC	Common Stock	288,307	Direct
Nov. 30, 2011	VAC	Common Stock	52,000	Indirect
Nov. 30, 2011	VAC	Common Stock	100,000	Indirect
Nov. 30, 2011	VAC	Common Stock	1,082,798	Indirect
Nov. 30, 2011	VAC	Common Stock	919,999	Indirect
Nov. 30, 2011	VAC	Common Stock	32,349	Indirect
Nov. 30, 2011	VAC	Common Stock	28,252	Indirect
Nov. 30, 2011	VAC	Common Stock	226,845	Indirect
Nov. 30, 2011	VAC	Common Stock	1,322	Indirect
Nov. 30, 2011	VAC	Common Stock	1,668	Indirect
Nov. 30, 2011	VAC	Common Stock	1,668	Indirect
Nov. 30, 2011	VAC	Common Stock	1,967	Indirect
Nov. 30, 2011	VAC	Common Stock	1,967	Indirect
Nov. 30, 2011	VAC	Common Stock	1,021	Indirect
Nov. 30, 2011	VAC	Common Stock	50,391	Indirect
Nov. 30, 2011	VAC	Common Stock	75,080	Indirect
Nov. 30, 2011	VAC	Common Stock	43,111	Indirect
Nov. 30, 2011	VAC	Common Stock	49,555	Indirect
Nov. 30, 2011	VAC	Common Stock	80,767	Indirect
Nov. 30, 2011	VAC	Common Stock	58,752	Indirect
Nov. 30, 2011	VAC	Common Stock	66,627	Indirect
Nov. 30, 2011	VAC	Common Stock	79,582	Indirect
Nov. 30, 2011	VAC	Common Stock	1,700	Indirect
Nov. 30, 2011	VAC	Common Stock	521,568	Indirect
Nov. 30, 2011	VAC	Restricted Stock Units	7,989	Indirect
Nov. 30, 2011	VAC	Restricted Stock Units	7,346	Indirect
Nov. 30, 2011	VAC	Stock Appreciation Rights→ Common Stock (44,730)	44,730	Direct
Nov. 30, 2011	VAC	Stock Appreciation Rights→ Common Stock (27,858)	27,858	Direct
Nov. 30, 2011	VAC	Stock Appreciation Rights→ Common Stock (19,023)	19,023	Direct
Nov. 30, 2011	VAC	Stock Options→ Common Stock (13,760)	13,760	Direct
Nov. 30, 2011	VAC	Stock Options→ Common Stock (13,760)	13,760	Direct
Nov. 30, 2011	VAC	Stock Options→ Common Stock (38,400)	38,400	Direct
Nov. 30, 2011	VAC	Stock Options→ Common Stock (60,000)	60,000	Direct
Nov. 30, 2011	VAC	Stock Options→ Common Stock (80,000)	80,000	Direct
Nov. 30, 2011	VAC	Stock Options→ Common Stock (113,000)	113,000	Direct
Nov. 30, 2011	VAC	Stock Options→ Common Stock (65,880)	65,880	Direct
Nov. 30, 2011	VAC	Stock Options→ Common Stock (24,600)	24,600	Direct