ROBERT L. JOHNSON - 05 Jun 2023 Form 4 Insider Report for RLJ Lodging Trust (RLJ)

Role: Executive Chairman, Director
Signature: /s/ Anita Cooke Wells, Attorney-in-Fact
Issuer symbol: RLJ
Transactions as of: 05 Jun 2023
Net transactions value: -$60,584
Form type: 4
Filing time: 07 Jun 2023, 16:55:58 UTC
Previous filing: 08 May 2023
Next filing: 12 Jun 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	RLJ	Common Shares	Award	$0	+22,971	+1.7%	$0.000000	1,373,795	05 Jun 2023	Direct	F1
transaction	RLJ	Common Shares	Tax liability	$60,584	-5,548	-0.4%	$10.92	1,368,247	05 Jun 2023	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	RLJ	OP Units						335,250	05 Jun 2023	Common Stock	335,250		Direct	F3, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These securities were issued to the reporting person pursuant to the RLJ Lodging Trust 2021 Equity Incentive Plan, which provides for the conversion of performance units to a number of restricted common shares based on the Issuer's performance over a designated three-year performance period. 50% of the restricted common shares vested on the date of issuance, with the remaining 50% vesting on February 28, 2024, provided the reporting person remains employed by the Issuer through the vesting date.
F2	Reflects common shares surrendered to the Issuer to satisfy tax withholding obligations in connection with the vesting of the restricted common shares described above.
F3	"OP Units" represent limited partner interests of RLJ Lodging Trust, L.P., the operating partnership (the "OP") of the Issuer, of which the Issuer is the sole general partner. OP Units are redeemable beginning one year after the date of issuance for cash equal to the then current market value of one common share of the Issuer or, at the election of the Issuer, an equal number of common shares of the Issuer.
F4	All of these OP Units are immediately redeemable (subject to certain limitations set forth in the agreement of limited partnership of the OP). OP Units have no expiration date.