Stefani D. Carter - 18 Jun 2025 Form 4 Insider Report for Braemar Hotels & Resorts Inc. (BHR)

Reporting relationship: Director
Issuer ticker: BHR
Reported as of: 18 Jun 2025
Net transaction value: $0
SEC form: 4
Accepted by SEC: 20 Jun 2025, 12:17:30 UTC
Prior SEC filing: 15 Nov 2024
Next SEC filing: 18 Nov 2025
Source filing: View source filing
Reporting owner signature: /s/ Stefani D. Carter

Key filing fact

Stefani D. Carter filed Form 4 for Braemar Hotels & Resorts Inc. (BHR) on 20 Jun 2025.

Key facts

This page summarizes Stefani D. Carter's Form 4 filing for Braemar Hotels & Resorts Inc. (BHR).
2 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 20 Jun 2025, 12:17.

Change

Previous filing in this sequence was filed on 15 Nov 2024.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001591372 Primary reporting owner

Carter Stefani D

Relationship: Director
Address: 14185 DALLAS PARKWAY, SUITE 1200, DALLAS
Signature: /s/ Stefani D. Carter
Signature date: 20 Jun 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

BHR transaction

Common Stock

Award

Transaction value: $0
Shares: +3,489
Change %: +5.9%
Price: $0.000000
Shares after: 62,833
Date: 18 Jun 2025
Ownership: Direct
Footnotes: F1

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

BHR transaction Derivative

LTIP Units

Disposed to Issuer

Transaction value: $0
Shares: -3,489
Change %: -100%
Price: $0.000000
Shares after: 0
Date: 18 Jun 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 3,489
Exercise price
Footnotes: F1, F2, F3

BHR holding Derivative

Common Partnership Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 38,002
Date: 18 Jun 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount
Exercise price: $0.000000
Footnotes: F3, F4, F5

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 5 footnotes

Footnote F1

On June 13, 2025, the Reporting Person entered into an Exchange Agreement (the "Exchange Agreement") with the Issuer pursuant to which the Reporting Person exchanged a number of vested LTIP Units (as defined below) for an equal number of shares of common stock in a Rule 16b-3 exempt transaction. No other consideration was involved in connection with the Exchange Agreement.

Footnote F2

Represented 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"), were convertible into Common Partnership Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Partnership Units.

Footnote F3

Neither the Common Partnership Units nor vested LTIP Units have an expiration date.

Footnote F4

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.

Footnote F5

Reflects the aggregate number of Common Partnership Units currently held directly or indirectly, as noted, by the Reporting Person. See Footnote 4 discussing the convertibility of the Common Partnership Units.