Sirna Kellie 4
4 · Braemar Hotels & Resorts Inc. · Filed Jun 17, 2025
Insider Transaction Report
Form 4
Sirna Kellie
Director
Transactions
- Award
Common Stock
2025-06-13+1,799→ 1,799 total - Disposition to Issuer
LTIP Units
2025-06-13−1,799→ 0 total→ Common Stock (1,799 underlying)
Footnotes (3)
- [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.
- [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.
- [F3]Neither the Common Partnership Units nor vested LTIP Units had an expiration date.