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

Role
Director
Signature
/s/ Abteen Vaziri
Issuer symbol
BHR
Transactions as of
13 Nov 2024
Net transactions value
-$6,700
Form type
4
Filing time
05 Dec 2024, 16:05:14 UTC
Previous filing
17 May 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BHR Common Stock Sale $6,700 -1,782 -15% $3.76 10,230 13 Nov 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 47,098 13 Nov 2024 Common Stock $0.000000 Direct F1, F2
holding BHR Common Partnership Units 34,928 13 Nov 2024 Common Stock $0.000000 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.