4//SEC Filing
Vaziri Abteen 4
Accession 0001104659-20-066380
CIK 0001574085other
Filed
May 26, 8:00 PM ET
Accepted
May 27, 4:05 PM ET
Size
8.7 KB
Accession
0001104659-20-066380
Insider Transaction Report
Form 4
Vaziri Abteen
Director
Transactions
- Award
LTIP Units(1)
2020-05-22$2.42/sh+4,649$11,251→ 16,049 totalExercise: $0.00→ Common Stock
Holdings
- 3,333
Common Stock
- 5,700
Common Partnership Units(4)
Exercise: $0.00→ Common Stock
Footnotes (5)
- [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. See Footnote 4 discussing the convertibility of Common Partnership Units.
- [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]Neither the Common Partnership Units nor vested LTIP Units have an expiration date.
- [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.
- [F5]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 4 discussing the convertibility of the Common Partnership Units.
Documents
Issuer
Braemar Hotels & Resorts Inc.
CIK 0001574085
Entity typeother
Related Parties
1- filerCIK 0001716587
Filing Metadata
- Form type
- 4
- Filed
- May 26, 8:00 PM ET
- Accepted
- May 27, 4:05 PM ET
- Size
- 8.7 KB