Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of
Equity Securities
Market Information and Dividends
Our common stock currently is traded on the New York Stock Exchange, or the “NYSE,” under the symbol “VAC.” We currently expect to pay quarterly cash dividends in the future, but any future dividend payments will be subject to Board approval, which will depend on our financial condition, results of operations and capital requirements, as well as applicable law, regulatory constraints, industry practice and other business considerations that our Board of Directors considers relevant. In addition, our Corporate Credit Facility and the indentures governing our senior notes contain restrictions on our ability to pay dividends, and the terms of agreements governing any debt that we may incur in the future may also limit or prohibit the payment of dividends. The payment of certain cash dividends may also result in an adjustment to the conversion rate of our convertible notes in a manner adverse to us. Accordingly, there can be no assurance that we will pay dividends in the future at any particular rate or at all.
Holders of Record
On February 23, 2026, there were 20,180 holders of record of our common stock.
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Issuer Purchases of Equity Securities
Period Total Number of Shares Purchased Average
Price Paid per Share (2)
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs ( 1)
Maximum Dollar Amount of Shares That May Yet Be Purchased Under the Plans or Programs (1)(2)
October 1, 2025 – October 31, 2025
— $ — — $ 347,132,547
November 1, 2025 – November 30, 2025
417,396 $ 47.94 417,396 $ 327,122,328
December 1, 2025 – December 31, 2025
90,733 $ 55.13 90,733 $ 322,120,557
Total 508,129 $ 49.22 508,129 $ 322,120,557
(1) On May 11, 2023, we announced that our Board of Directors increased the then-remaining authorization under our share repurchase program (which was first announced on September 13, 2021) to authorize purchases of up to $600 million of our common stock and extended the term of our share repurchase program to December 31, 2024. On December 19, 2024, we announced that our Board of Directors extended the term of our share repurchase program to December 31, 2025. On December 12, 2025, we announced that our Board of Directors extended the term of our share repurchase program to December 31, 2026.
(2) All dollar amounts presented exclude the nondeductible 1% excise tax on the net value of certain stock repurchases that was imposed by the Inflation Reduction Act of 2022.
Performance Graph
The above graph compares the relative performance of our common stock, the S&P SmallCap 600 Index, the S&P MidCap 400 Index, and the S&P Composite 1500 Hotels, Resorts & Cruise Lines Index. In December 2025, MVW was added to the S&P SmallCap 600 Index as it is more representative of the Company’s current market capitalization range than the Company’s prior index, the S&P MidCap 400 Index. The graph assumes that $100 was invested in our common stock and each index on December 31, 2020. The stock price performance reflected above is not necessarily indicative of future stock price performance. The foregoing performance graph is being furnished as part of this Annual Report solely in accordance with the requirement under Rule 14a-3(b)(9) to furnish our stockholders with such information, and therefore, shall not be deemed to be filed or incorporated by reference into any filings by the Company under the Securities Act of 1933, as amended, or the Exchange Act.
Item 6. Reserved
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