Raymond D. Martz - Jan 1, 2024 Form 4 Insider Report for Pebblebrook Hotel Trust (PEB)

Role: Co-President,CFO,Treasurer,Sec
Signature: /s/ Andrew H. Dittamo, as attorney-in-fact, for Raymond D. Martz
Stock symbol: PEB
Transactions as of: Jan 1, 2024
Transactions value $: -$120,649
Form type: 4
Date filed: 1/3/2024, 05:30 PM
Previous filing: Feb 22, 2023
Next filing: Feb 20, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PEB	Common Shares	Tax liability	-$121K	-7.55K	-2.89%	$15.98	254K	Jan 1, 2024	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						290K	Jan 1, 2024	Common Shares	290K		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 14,494 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 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 common 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 14,494 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 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 common 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.