Abteen Vaziri - Nov 13, 2024 Form 4 Insider Report for Braemar Hotels & Resorts Inc. (BHR)

Role
Director
Signature
/s/ Abteen Vaziri
Stock symbol
BHR
Transactions as of
Nov 13, 2024
Transactions value $
-$6,700
Form type
4
Date filed
12/5/2024, 04:05 PM
Previous filing
May 17, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BHR Common Stock Sale -$6.7K -1.78K -14.84% $3.76 10.2K Nov 13, 2024 Direct F5

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 47.1K Nov 13, 2024 Common Stock $0.00 Direct F1, F2
holding BHR Common Partnership Units 34.9K Nov 13, 2024 Common Stock $0.00 Direct F2, F3, F4
* 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 3 discussing the convertibility of Common Partnership Units.
F2 Neither the Common Partnership Units nor vested LTIP Units have an expiration date.
F3 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.
F4 Reflects the aggregate number of Common Partnership Units currently held directly or indirectly, as noted, by the Reporting Person. See Footnote 3 discussing the convertibility of the Common Partnership Units.
F5 These shares were sold by the reporting person's brokerage firm, without the knowledge of the reporting person, to meet margin requirements established by the brokerage firm. This Form 4 was filed as promptly as practicable following the reporting person's discovery that these shares had been sold.