| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| holding | BHR | Common Stock | 14.2K | Mar 6, 2024 | Direct | ||||||
| holding | BHR | Common Stock | 267 | Mar 6, 2024 | By Spouse | ||||||
| holding | BHR | Series E Redeemable Preferred Stock | 44.4K | Mar 6, 2024 | By MJB Investments, LP |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | BHR | Performance LTIP Units (2021) | Options Exercise | -490K | -100% | 0 | Mar 6, 2024 | Common Stock | 0 | $0.00 | Texas Yarrow 2021 | F1, F2 | ||
| transaction | BHR | LTIP Units | Options Exercise | +490K | +200% | 735K | Mar 6, 2024 | Common Stock | 490K | $0.00 | Texas Yarrow 2021 | F3, F5, F6, F7 | ||
| transaction | BHR | Common Partnership Units | Award | $0 | +56.7K | $0.00 | 56.7K | Mar 6, 2024 | Common Stock | 56.7K | $0.00 | Texas Yarrow 2021 | F4, F6, F8, F9, F10 | |
| holding | BHR | Performance LTIP Units (2023) | 353K | Mar 6, 2024 | Common Stock | 353K | $0.00 | Direct | F1, F2 | |||||
| holding | BHR | Performance LTIP Units (2022) | 456K | Mar 6, 2024 | Common Stock | 456K | $0.00 | Texas Yarrow LLC - 2022 PS | F1, F2 | |||||
| holding | BHR | Common Partnership Units | 123K | Mar 6, 2024 | Common Stock | 123K | $0.00 | By Ashford Financial Corporation | F6, F8, F9, F10 | |||||
| holding | BHR | Common Partnership Units | 3.2K | Mar 6, 2024 | Common Stock | 3.2K | $0.00 | By Spouse | F6, F8, F9, F10 |
| Id | Content |
|---|---|
| F1 | Each performance LTIP Unit ("Performance LTIP Unit") award represents a special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"), subject to performance-based vesting criteria. |
| F2 | Represents the maximum number of LTIP Units that may vest pursuant to the 2021, 2022 and 2023 awards of Performance LTIP Units, which is 200% of the target number of LTIP Units. The actual number of Performance LTIP Units that may vest can range from 0% to 200% of the target number of Performance LTIP Units, based on achievement of specified performance metrics. Assuming continued service through the vesting date and minimum achievement of the specified performance metrics, the Performance LTIP Units will generally vest on December 31, 2023 (with respect to the 2021 Performance LTIP Units), December 31, 2024 (with respect to the 2022 Performance LTIP Units) and December 31, 2025 (with respect to the 2023 Performance LTIP Units). See Footnote 3 discussing the convertibility of vested LTIP Units. |
| F3 | Represents LTIP Units in the Subsidiary. Vested LTIP Units, upon achieving parity with the Common Partnership Units (as defined below) are redeemable for Common Partnership Units at the option of the Reporting Person. See Footnote 8 discussing redemption of Common Partnership Units. |
| F4 | Represents dividend equivalent rights that accrued on a Performance LTIP Unit award pursuant to the dividend reinvestment feature of the award. |
| F5 | The LTIP Units reported herein vest and are convertible in three (3) equal installments over a three (3) year term from the date of the award. See Footnote 3 discussing the convertibility of vested LTIP Units. |
| F6 | Neither the Common Partnership Units nor vested LTIP Units (including any LTIP Units awarded upon achievement of the specified performance criteria relating to vested Performance LTIP Units) have an expiration date. |
| F7 | Reflects the aggregate number of LTIP Units held directly or indirectly by the Reporting Person, and includes LTIP Units comprising awards previously granted to, and reported by, the Reporting Person. Such LTIP Units have different grant and vesting dates and include those which (i) may have achieved parity with the Common Partnership Units, (ii) have not yet achieved parity with the Common Partnership Units, (iii) are currently vested or (iv) have not yet vested. Such LTIP Units have been combined herein solely for reporting purposes. See Footnote 3 discussing convertibility of LTIP Units and Footnote 8 discussing convertibility of Common Partnership Units. |
| F8 | Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"). Common Partnership Units are redeemable for cash or, at the option of the Issuer, redeemable for shares of the Issuer's common stock on a 1-for-1 basis. |
| F9 | Reflects the aggregate number of Common Partnership Units currently held directly or indirectly, as noted, by the Reporting Person, some of which may have been converted from LTIP Units by the Reporting Person since the Reporting Person's most recent Form 4 or Form 5 filing. See Footnote 8 discussing the convertibility of the Common Partnership Units. |
| F10 | The Common Partnership Units reflected as beneficially owned indirectly through Ashford Financial Corporation reflect only the Reporting Person's pecuniary interest in all Common Partnership Units owned by such entity. The Reporting Person hereby disclaims interest in all other securities of the Issuer or the Subsidiary owned directly by such entity. |