Evans Mary Candace 4
4 · Braemar Hotels & Resorts Inc. · Filed May 27, 2020
Insider Transaction Report
Form 4
Evans Mary Candace
Director
Transactions
- Award
LTIP Units
2020-05-22$2.42/sh+4,262$10,314→ 15,662 totalExercise: $0.00→ Common Stock
Holdings
- 1,125
Common Stock
Footnotes (3)
- [F1]Fully vested 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"), are convertible into Common Partnership Units at the option of the Reporting Person. 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.
- [F2]The LTIP Units were issued to the Reporting Person under the Issuer's 2013 Equity Incentive Plan in lieu of 25% of the annual cash retainers (as such cash retainers were reduced in March 2020) that would otherwise be payable to the Reporting Person under the Issuer's non-employee director compensation program for a one-year period and are fully vested.
- [F3]The LTIP Units have no expiration date.