Eubanks Deric S 4

What Happened
Deric S. Eubanks, CFO and Treasurer of Braemar Hotels & Resorts, reported a disposition to the issuer on 2026-02-24: 88,747 performance stock units (PSUs) were forfeited because specified performance-based vesting criteria were not met. The filing lists the transaction as a derivative disposition (code D); no per-share price or cash proceeds are reported.

Key Details

• Transaction date: 2026-02-24; Form 4 filed: 2026-02-26 (timely).
• Transaction type/code: Disposition to issuer — derivative (D).
• Units forfeited: 88,747 Performance Stock Units (PSUs).
• Price/Proceeds: N/A — this was a forfeiture, not a sale.
• Potential share impact: Each PSU could have converted into up to 2 shares under the award terms, so these PSUs could have represented up to 177,494 shares if fully earned (see footnote).
• Shares owned after transaction: Not specified in this Form 4; see footnote re Common Partnership Units holdings.
• Relevant footnotes: F1 — each PSU could convert to up to 2 shares if performance met; F2 — these 88,747 PSUs were forfeited for not meeting 2023 performance criteria; F3–F5 — discuss Common Partnership Units and LTIP Units convertibility/terms.

Context
This was a forfeiture of unvested performance awards due to unmet performance conditions — not an open-market sale or exercise. For retail investors, forfeitures reduce the number of potential future shares that might have been issued to insiders and do not represent insider buying or bearish selling intent.