Justin Coe - 01 Jan 2024 Form 3 Insider Report for Braemar Hotels & Resorts Inc. (BHR)

Role
Chief Accounting Officer
Signature
/s/ Justin Coe
Issuer symbol
BHR
Transactions as of
01 Jan 2024
Net transactions value
$0
Form type
3
Filing time
05 Jan 2024, 16:25:08 UTC
Next filing
08 Feb 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding BHR Common Stock 607 01 Jan 2024 Direct
holding BHR Series E Redeemable Preferred Stock 1,111 01 Jan 2024 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
holding BHR LTIP Units 01 Jan 2024 Common Stock 7,454 $0.000000 Direct F1, F2, F3, F4
holding BHR LTIP Units 01 Jan 2024 Common Stock 3,728 $0.000000 Direct F1, F3, F4, F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"), subject to certain vesting criteria.
F2 The LTIP Units reported herein are vested and exercisable. Vested LTIP Units, upon achieving parity with the Common Partnership Units, are convertible into Common Partnership Units (as defined below) at the option of the Reporting Person. See Footnote 4 discussing the convertibility of the Common Partnership Units.
F3 LTIP Units do not have an expiration date.
F4 "Common Partnership Units" are Common Limited Partnership Units of the Subsidiary and 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.
F5 The LTIP Units reported herein vest on March 15, 2024. See Footnote 2 discussing the convertibility of vested LTIP Units.
F6 Represents unvested LTIP Units in the Subsidiary.