Raymond D. Martz - Jan 1, 2023 Form 4 Insider Report for Pebblebrook Hotel Trust (PEB)

Role: Exec VP, CFO, Treasurer, Secre
Signature: /s/ Andrew H. Dittamo, as attorney-in-fact, for Raymond D. Martz
Stock symbol: PEB
Transactions as of: Jan 1, 2023
Transactions value $: -$142,443
Form type: 4
Date filed: 1/4/2023, 03:51 PM
Previous filing: May 16, 2022
Next filing: Feb 22, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PEB	Common Shares	Tax liability	-$142K	-10.6K	-4.05%	$13.39	252K	Jan 1, 2023	Direct	F1

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	PEB	LTIP Class B Units						251K	Jan 1, 2023	Common Shares	251K		Direct	F2

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

Explanation of Responses:

Id	Content
F1	Represents Common Shares sold to the Issuer as payment of tax withholding upon vesting of 20,745 Common Shares.
F2	Represents units of limited partnership interest ("LTIP Class B Units") in Pebblebrook Hotel, L.P. (the "Operating Partnership"), of which the Issuer is the general partner. Vested LTIP Class B Units, upon achieving parity with the Operating Partnership units pursuant to the terms of the partnership agreement, may be exchanged at any time, at the election of the holder, for Operating Partnership units on a one-for-one basis or, at the Operating Partnership's option, an equivalent amount of cash. The LTIP Class B Units were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

Content

Represents Common Shares sold to the Issuer as payment of tax withholding upon vesting of 20,745 Common Shares.

Represents units of limited partnership interest ("LTIP Class B Units") in Pebblebrook Hotel, L.P. (the "Operating Partnership"), of which the Issuer is the general partner. Vested LTIP Class B Units, upon achieving parity with the Operating Partnership units pursuant to the terms of the partnership agreement, may be exchanged at any time, at the election of the holder, for Operating Partnership units on a one-for-one basis or, at the Operating Partnership's option, an equivalent amount of cash. The LTIP Class B Units were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.