Jon E. Bortz - Mar 16, 2023 Form 4 Insider Report for Pebblebrook Hotel Trust (PEB)

Role: Chairman and CEO, Director
Signature: /s/ Andrew H. Dittamo, as attorney-in-fact, for Jon E Bortz
Stock symbol: PEB
Transactions as of: Mar 16, 2023
Transactions value $: $190,666
Form type: 4
Date filed: 3/17/2023, 05:45 PM
Previous filing: Mar 14, 2023
Next filing: Mar 21, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PEB	Common Shares	Purchase	$191K	+14K	+1.28%	$13.62	1.11M	Mar 16, 2023	Direct	F1
holding	PEB	Common Shares						200K	Mar 16, 2023	By wife	F2

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						308K	Mar 16, 2023	Common Shares	308K		Direct	F3

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

Explanation of Responses:

Id	Content
F1	This is the weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.45 to $13.75, inclusive. The reporting person undertakes to provide to Pebblebrook Hotel Trust, any security holder of Pebblebrook Hotel Trust or the staff of the United States Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote to this Form 4.
F2	The reporting person disclaims beneficial ownership of these shares held by an immediate family member sharing his household, and this report should not be deemed an admission that the reporting person is the beneficial owner of such shares for purposes of Section 16 or for any other purpose.
F3	Represents restricted 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's common 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.