Mr. Shaw has served as a director of the Company since July 2011 and as Chairman of our Board since November 2011. He served as Vice Chairman of the board of directors of Marriott International, a publicly traded international lodging and hospitality company, from May 2009 until his retirement in March 2011. He previously served as President and Chief Operating Officer of Marriott International from 1997 until May 2009. He joined Marriott International in 1974 and was named Corporate Controller in 1979 and a Corporate Vice President in 1982. In 1986, Mr. Shaw was named Senior Vice President-Finance and Treasurer of Marriott International. He became Chief Financial Officer and Executive Vice President of Marriott International in 1988. In 1992, he was named President of the Marriott Service Group. Mr. Shaw serves on the Board of Directors of The Carlyle Group Inc., a publicly traded private equity, alternative asset management and financial services corporation., and on the Board of Directors of DiamondRock Hospitality Company, a publicly traded lodging real estate investment trust. He also serves on the Board of Trustees of the University of Notre Dame.

Mr. Shaw brings to the Board extensive management experience with Marriott International, his prominent status in the hospitality industry and a wealth of knowledge in dealing with financial and accounting matters as a result of his prior service in financial and accounting positions at Marriott International, including as its Chief Financial Officer. Mr. Shaw also has experience as a board member of publicly traded companies.

Mr. Andrews has served as a director of the Company since April 2013. Mr. Andrews has served as a member of the Board of Directors of, and an advisor to, MorganFranklin Consulting, a business consulting and technology solutions company from April 2017 through June 2019 when he retired. He served as its Chief Executive Officer from May 2013 until March 2017. From June 2009 until February 2012, Mr. Andrews was the president of RSM McGladrey Business Services, Inc., an audit and accounting services provider. Prior to that, Mr. Andrews served as the president of SLM Corporation (“Sallie Mae”), which originates, services and collects student loans. He joined Sallie Mae in 2003 as the Executive Vice President of Accounting and Risk Management and held the title of Chief Financial Officer from 2006 to 2007. Prior to joining Sallie Mae, Mr. Andrews spent approximately 30 years at Arthur Andersen, LLP, an accounting firm. He served as managing partner for Arthur Andersen's mid-Atlantic region and was promoted to global managing partner for audit and advisory services in 2002. Mr. Andrews serves on the boards of Washington Mutual Investors Fund, a publicly traded mutual fund, and NVR Inc., a publicly traded homebuilder. In addition, he serves on the board of Trustar Bank, a state chartered bank. 

Mr. Andrews brings to the Board, and particularly to the Audit Committee, the extensive financial and accounting expertise that he obtained over his thirty-year career in public accounting, as well as through his role as Chief Financial Officer of Sallie Mae and as a certified public accountant (inactive). Mr. Andrews also has experience as a board member and an officer of publicly traded companies.

Mr. Asmar is co-founder and Managing Partner of Impactive Capital LLC, an active investment management firm based in New York that serves some of the largest pension, endowment and foundations globally. Prior to founding Impactive, from June 2010 to January 2018, Mr. Asmar was a Managing Director and Investing Partner at Blue Harbour Group, a leading activist investment firm. Mr. Asmar led many of the firm's investments where he advised CEOs and boards of public companies on capital allocation, environmental, social, and governance issues, and strategic considerations. Prior to joining Blue Harbour, from June 2006 to June 2010, Mr. Asmar was a founding team member of Morgan Stanley Infrastructure Partners (MSIP), where he worked in infrastructure investments in the energy, transportation and social infrastructure sectors and served on the board of multi-billion dollar private infrastructure assets. Prior to his tenure at MSIP, Mr. Asmar worked in the Investment Banking division at Morgan Stanley where he structured and executed project level financings in emerging markets and Latin America. Mr. Asmar served on the Board of Avid Technology, Inc. (Nasdaq: AVID) from October 2019 to November 2023.

Mr. Asmar graduated magna cum laude from Princeton University with a B.S.E. in Operations Research & Financial Engineering and minors in Finance, Engineering & Management Systems and Robotics & Intelligent Systems. Mr. Asmar provides the Board with the benefit of his extensive experience in capital allocation and investments and his perspective as a principal of a major investor in the Company.

Matthew (Matt) E. Avril is the CEO of Marriott Vacations Worldwide (NYSE: VAC), having previously held the position of Interim President and CEO since November 2025. He joined the Board of Directors in March 2025.

Mr. Avril has over 30 years of executive leadership experience in the hospitality and vacation ownership industry. He has been a self-employed consultant since March 2017 and previously served as Chief Executive Officer of Diamond Resorts International, Inc., a hospitality and vacation ownership company, from November 2016 to March 2017. Prior to that, he was Chief Executive Officer-elect for Vistana Signature Experiences, Inc. (“Vistana”), a vacation ownership business, from February 2015 to May 2016, after his retirement as President, Hotel Group, for Starwood Hotels & Resorts Worldwide, Inc., a publicly traded hotel and leisure company (“Starwood”) – a position he held from September 2008 to December 2012. In this role, he was responsible for hotel operations worldwide for Starwood’s nine hotel brands, consisting of 960 properties in more than approximately 97 countries. He has also held senior leadership roles with Vistana and Starwood Vacation Ownership.

In addition to his operational leadership, Mr. Avril previously served as a director and Chairman of the Board of Directors of Franchise Group, Inc. from 2019 to 2023 and Babcock & Wilcox Enterprises, Inc. from 2018 to 2022. He is a certified public accountant (inactive) and has contributed his financial and governance expertise as a chair and member of various public company boards and committees. Mr. Avril’s extensive industry experience and board service provide valuable insight and guidance to the Company and its Board.

Mr. Dausch has served as a director of the Company since March 2025. Mr. Dausch is Chief Digital & Technology Officer of Yum Brands, Inc. and President of Byte by Yum!, previously serving as Global Chief Digital and Technology Officer, Pizza Hut at Yum! Brands, Inc. since December 2024. Prior to that, he served as Executive Vice President and Chief Strategy and Consumer Experience Officer at Under Armour, Inc., one of the world’s leading athletic performance brands from May 2024 to December 2024 and Executive Vice President, Chief Customer Officer from July 2023 to May 2024, where he led the company’s efforts to drive stronger consumer demand and engagement. Prior to joining Under Armour, Mr. Dausch was the Chief Digital and Transformation Officer of Marriott International, a global lodging company, from March 2021 to July 2023, where he led Marriott International’s direct digital channels and spearheaded one of the company’s largest business transformation initiatives; Senior Vice President, Enterprise Products from 2016 to 2021, where he played a leading role in the successful merger and integration of Marriott International and Starwood from 2016 to 2019, and Senior Vice President, Global Operations from 2014 to 2016. Mr. Dausch’s career at Marriott International spanned over 20 years with increasing leadership responsibility in the areas of Corporate Finance, Sales & Marketing, Brand Management, Franchising, Operations, Digital and Technology.

Mr. Dausch provides the Board with the benefit of his extensive experience in the hospitality, vacation ownership and consumer products industries, including: as Global Chief Digital and Technology Officer, Pizza Hut at Yum! Brands, Inc.; as former Chief Strategy and Consumer Experience Officer at Under Armour, Inc.; and as former Chief Digital and Transformation Officer and former Senior Vice President, Enterprise Products of Marriott International, Inc.; and as an experienced leader in the areas of corporate finance, sales and marketing, brand management, franchising, operations, digital and technology.

Ms. Galbreath has served as a director of the Company since September 2018. Ms. Galbreath has been the managing partner of Galbreath & Company, a real estate investment firm, since 1999. From April 1997 to 1999, Ms. Galbreath was a managing director of LaSalle Partners/Jones Lang LaSalle, a real estate services and investment management firm where she also served as a director.

Before her time at LaSalle, Ms. Galbreath spent 13 years in a variety of leadership positions including managing director, chairman and chief executive officer at The Galbreath Company, the predecessor entity of Galbreath & Company.

Ms. Galbreath received a Master of Business Administration from The Wharton School at the University of Pennsylvania and a Bachelor of Arts from Dartmouth College. Ms. Galbreath formerly served on the boards of Paramount Group, Inc., a publicly traded REIT; ILG, Inc. (until its merger with Marriott Vacations Worldwide); Starwood Hotels & Resorts Worldwide, Inc., and was the past chair of The Wharton School’s Real Estate Advisory Board. She also currently serves as a director on the board of BGO Industrial Real Estate Income Trust, Inc., a publicly traded real estate investment trust (“REIT”), since 2023.

Ms. Galbreath provides the Board with the benefit of her senior leadership experience as managing partner for Galbreath & Company. The Board also benefits from her real estate investment, development and strategy experience, and management and corporate governance experience, having served as a member of the boards of directors and committees of the boards of directors of other publicly traded companies.

Ms. Galligan has served as a director of the Company since January 2024.

Ms. Galligan’s career has spanned 35 years in technology and cybersecurity, government relations, and risk management, as well as navigating high-profile multifaceted crises and cyber incidents.

She began her career in 1988 as a special agent in the FBI, assuming positions of increasing responsibility and eventually becoming a member of the federal government’s Senior Executive Service and the first female appointed Special Agent in Charge of Cyber and Special Operations in the New York office. In that role, she was responsible for driving the operations of the largest technical and physical surveillance operation in the FBI, including budget, personnel, and oversight of investigations into national security and criminal cyber intrusions.

Ms. Galligan has been successful in adapting her work with U.S. government entities to risk mitigation and incident response measures for the private sector. She most recently served as Managing Director for Deloitte’s Cyber & Strategic Risk practice from 2013 to 2023, leading the response to several high-profile cyber breaches while also serving as an advisor on addressing cyber incidents to the boards of directors and senior executives of Deloitte’s Fortune 500 clients.

Ms. Galligan is also a director on the Intermediate Holding Company Board (IHC) of Barclays, US LLC, a non-publicly traded company. In addition to presenting and authoring publications on cybersecurity risk and topics like artificial intelligence, she is an FBI-certified Crisis Negotiator and Crisis Manager. Ms. Galligan also serves as an advocate for the acceleration of women professionals in the cybersecurity field and accessible STEM education for girls in secondary schools. She holds an M.A. in psychology from The New School for Social Research, a B.A. in communications from Fordham University, and an Honorary Doctor of Laws from Marian University.

Ms. Galligan provides the Board with the benefit of her significant cyber security experience working for the U.S. government and advising multinational companies. Ms. Galligan is also an experienced leader, decision maker and problem solver.

Ms. Gray has served as a director of the Company since November 2021. Ms. Gray is a Partner with Paul Hastings, LLP, a global law firm, where she is Chair of the Consumer Financial Services Group.

Throughout her professional career, Ms. Gray has specialized in work with banks, non-bank financial institutions, and other companies providing financial products and services. She works with some of the largest bank and non-bank financial institutions, emerging companies such as fintechs, and retailers whose business operations include consumer and commercial finance.

Ms. Gray’s work is focused on representing corporate clients in high-stakes legal proceedings, including matters initiated by federal and state regulators, private civil litigation, and internal investigations. Ms. Gray’s work includes particularized focus on matters related to consumer protection and corporate compliance.

Ms. Gray routinely provides strategic advice to senior corporate leaders, including Boards of Directors, as they navigate complex, and often unexpected, business and legal challenges. In view of the nature of her practice, this work often involves crisis management.

Ms. Gray has been deeply professionally engaged as a leader in her industry. She is a Past Chair of the American Bar Association’s Banking Law Committee, which had over 2,000 members during her three-year term. She sits on the Executive Council of the Federal Bar Association’s Banking Law Section, the Board of Regents for the American College of Financial Services Lawyers, and the Law360 Banking Advisory Board. She has delivered hundreds of speeches and authored more than 20 articles in the past few years on financial matters.

Outside of her professional work, Ms. Gray has served as a Director and as a senior leader for numerous non-profit organizations. Her current affiliations include serving on the Board of Directors for The Legal Aid Society of the District of Columbia and on the Advisory Board for the Ron Brown Scholars Program.

Prior to joining Paul Hastings, Mrs. Gray was a Founding Partner and Governing Board Member of another international law firm. She holds a BA from the University of Virginia (Phi Beta Kappa) and a JD from Yale Law School.

Ms. Gray brings to the Board of Directors a fresh and unique perspective in the areas of financial and capital markets, regulatory affairs, consumer protection, risk and crisis management, and technology.
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Mr. McCarten has served as a director of the Company since November 2011. He has served as non-executive Chairman of the Board of DiamondRock Hospitality Company, a publicly traded lodging REIT, since January 2010. He was Executive Chairman of DiamondRock from September 2008 to December 2009. Prior to that, he was Chairman and Chief Executive Officer of DiamondRock from its inception in 2004 until September 2008. From 1979 through 2003, Mr. McCarten worked at Marriott International and companies that operated businesses that were previously part of Marriott International or its predecessors, where he held a number of executive positions, including President of the Services Group and President and Chief Executive Officer of HMSHost Corporation, a publicly traded company, and he served as a consultant to Marriott International from January 2004 to June 2004. Mr. McCarten is also a former director of Cracker Barrel Old Country Store, Inc., a publicly traded company.

Mr. McCarten provides the Board with the benefit of his extensive experience in the hospitality industry and capital markets, including his service as Chief Executive Officer and board member of publicly traded companies. He is a former certified public accountant who has a strong familiarity with accounting and financial reporting matters.

Ms. Morgan has served as a director of the Company since April 2013. She retired in 2001 from a 30-year career with Walt Disney World Company, a subsidiary of The Walt Disney Company, a publicly traded entertainment company, where she served most recently as Senior Vice President of Public Affairs and Senior Vice President of Human Resources for Walt Disney World Company. During her tenure at Walt Disney World Company, she oversaw the Disney Institute, a recognized leader in experiential training, leadership development, benchmarking and cultural change for business professionals around the world. She previously served on the boards of Chesapeake Utilities Corporation, a publicly traded diversified energy corporation, from August 2008 to May 2023, the Board of Trustees of Hersha Hospitality Trust, a publicly traded REIT, from March 2010 to December 2023, and the Board of Directors of CNL Health Care Properties II, Inc., a publicly traded REIT, from November 2015 to March 2020. Ms. Morgan is also a Past Chair of the Board of Directors of Orlando Health and previously served as Chairman of the national board for the Children's Miracle Network. She also previously served on the Board of Trustees for the University of Florida from 2001 to 2011, and as its Chair from 2007 to 2009.

As an accomplished senior manager at Walt Disney World Company in various areas, Ms. Morgan brings to the Board best practice expertise in human capital and customer experience. Ms. Morgan's previous experience overseeing the Disney Institute, which provides leading professional development programs, and serving as Senior Vice President of Human Resources for Walt Disney World Company have provided her with extensive knowledge of leadership development programs and organizational culture. In addition, Ms. Morgan's experience as Senior Vice President of Public Affairs for Walt Disney World Company has provided her with a solid foundation in media relations and government relations. She also has extensive experience as a board member of publicly traded and private companies.

Mr. Quazzo has served as a director of the Company since September 2018. Mr. Quazzo is the Chief Executive Officer, and has been the Managing Director and co-founder, of Pearlmark Real Estate, LLC (formerly known as Transwestern Investment Company, LLC), a Chicago-based real estate principal investment firm, since March 1996. Pearlmark pursues domestic, value-added strategies through a series of institutional and high net worth investment vehicles.

From 1991 to 1996, Mr. Quazzo served as president of Equity Institutional Investors, Inc., a subsidiary of investor Sam Zell’s private holding company, Equity Group Investments, Inc. Prior to joining the Zell organization, Mr. Quazzo was in the Real Estate Department of Goldman, Sachs & Co., where he was a vice president responsible for the firm’s real estate investment banking activities in the Midwest.

Mr. Quazzo holds undergraduate and Master of Business Administration degrees from Harvard University, where he has served as a member of the Board of Dean’s Advisors for the business school. He is a trustee of the Urban Land Institute (ULI), past chairman of the ULI Foundation, a member of the Pension Real Estate Association and a licensed real estate broker in Illinois. For 22 years (1994-2016), he served as a director of Starwood Hotels & Resorts, which in 2016 merged with Marriott International. He also served on the board of ILG, Inc. until its merger with Marriott Vacations Worldwide. Mr. Quazzo serves on a number of non-profit boards, including: Rush University Medical Center, the Chicago Symphony Orchestra Endowment, and the Chicago Parks Foundation and Deerfield Academy. He is also currently a director of Phillips Edison & Company, a publicly traded REIT.

Mr. Quazzo provides the Board with the benefit of his extensive experience in real estate, investment and development and strategy experience as Chief Executive Officer of Pearlmark Real Estate, as well as his senior leadership experience. He also has broad experience in corporate governance, having served as a board member of other publicly traded companies.