Abteen Vaziri - May 11, 2021 Form 4 Insider Report for Braemar Hotels & Resorts Inc. (BHR)

Role
Director
Signature
/s/ Abteen Vaziri
Stock symbol
BHR
Transactions as of
May 11, 2021
Transactions value $
$2,149
Form type
4
Date filed
5/13/2021, 05:10 PM
Next filing
May 13, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding BHR Common Stock 3.33K May 11, 2021 Direct

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
transaction BHR LTIP Units Award $0 +11.2K +184.9% $0.00 17.2K May 11, 2021 Common Stock $0.00 Direct F1, F2, F3
transaction BHR LTIP Units Award $2.15K +354 +6.21% $6.07 6.05K May 11, 2021 Common Stock $0.00 Direct F1, F3, F4
holding BHR Common Partnership Units 20K May 11, 2021 Common Stock $0.00 Direct F3, F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. See Footnote 5 discussing the convertibility of Common Partnership Units.
F2 The LTIP Unit awards reported herein were issued as an annual grant under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan (the "Plan") upon the Reporting Person's re-election to the Issuer's Board of Directors.
F3 Neither the Common Partnership Units nor vested LTIP Units have an expiration date.
F4 The LTIP Units were issued to the Reporting Person under the Plan in lieu of certain cash retainer fees and were fully vested upon grant.
F5 Common Partnership Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.
F6 Reflects the aggregate number of Common Partnership Units currently held directly or indirectly, as noted, by the Reporting Person. See Footnote 4 discussing the convertibility of the Common Partnership Units.