Mark Nunneley - Jul 9, 2021 Form 4 Insider Report for Braemar Hotels & Resorts Inc. (BHR)

Role: Chief Accounting Officer
Signature: /s/ Mark Nunneley
Stock symbol: BHR
Transactions as of: Jul 9, 2021
Transactions value $: $202,500
Form type: 4
Date filed: 7/13/2021, 04:05 PM
Previous filing: Jun 3, 2021
Next filing: Sep 14, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BHR	Series E Redeemable Preferred Stock	Purchase	$203K	+9K		$22.50	9K	Jul 9, 2021	Direct
holding	BHR	Common Stock						296K	Jul 9, 2021	Direct

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

Type	Sym	Class	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	BHR	Performance Stock Units (2021)	65.3K	Jul 9, 2021	Common Stock	65.3K	$0.00	Direct	F1, F2
holding	BHR	Performance Stock Units (2020)	20K	Jul 9, 2021	Common Stock	20K	$0.00	Direct	F1, F2
holding	BHR	Performance Stock Units (2019)	18K	Jul 9, 2021	Common Stock	18K	$0.00	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Each Performance Stock Unit ("Performance Stock Unit") award represents the right, upon achievement of certain specified performance-based vesting criteria, to receive up to two (2) shares of the Issuer's common stock.
F2	Represents the target share amount that may be issued pursuant to such award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the number of Performance Stock Units awarded, based on achievement of specified performance goals. Assuming continued service through the vesting date and minimum achievement of the specified performance metrics, the Performance Stock Units, will generally vest on December 31, 2021 (with respect to the 2019 grant), December 31, 2022 (with respect to the 2020 grant) and December 31, 2023 (with respect to the 2021 grant).

Content

Each Performance Stock Unit ("Performance Stock Unit") award represents the right, upon achievement of certain specified performance-based vesting criteria, to receive up to two (2) shares of the Issuer's common stock.

Represents the target share amount that may be issued pursuant to such award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the number of Performance Stock Units awarded, based on achievement of specified performance goals. Assuming continued service through the vesting date and minimum achievement of the specified performance metrics, the Performance Stock Units, will generally vest on December 31, 2021 (with respect to the 2019 grant), December 31, 2022 (with respect to the 2020 grant) and December 31, 2023 (with respect to the 2021 grant).