Carter Stefani D 4
4 · Braemar Hotels & Resorts Inc. · Filed Jun 20, 2025
Insider Transaction Report
Form 4
Carter Stefani D
Director
Transactions
- Award
Common Stock
2025-06-18+3,489→ 62,833 total - Disposition to Issuer
LTIP Units
2025-06-18−3,489→ 0 total→ Common Stock (3,489 underlying)
Holdings
- 38,002
Common Partnership Units
Exercise: $0.00→ Common Stock
Footnotes (5)
- [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. See Footnote 4 discussing the convertibility of Common Partnership Units.
- [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. See Footnote 4 discussing the convertibility of the Common Partnership Units.