Braemar Hotels & Resorts Inc. 8-K

What Happened

• Braemar Hotels & Resorts Inc. (filed 8-K on March 6, 2026) announced that Deric Eubanks, currently Chief Financial Officer of Ashford Hospitality Advisors, Ashford Hospitality Trust and the Company, will terminate employment effective March 31, 2026.
• Effective March 31, 2026, Justin Coe, the Company’s Chief Accounting Officer and principal accounting officer, will serve as Braemar’s principal financial officer. The company states Mr. Coe’s biography appears in the Company’s 2025 definitive proxy (filed Oct 30, 2025).

Key Details

• Separation and agreement reached March 5, 2026; Termination Date: March 31, 2026.
• Cash payments: Ashford Advisors will pay Mr. Eubanks $1,796,000 in 12 substantially equal monthly installments beginning April 2026.
• Deferred compensation: $3,316,223 in outstanding deferred cash grants will continue to vest and be paid per original schedules, subject to compliance with the Release.
• Additional payments and consulting: Mr. Eubanks remains eligible for a 2025 cash incentive bonus; he will be paid $200,000 for part-time availability through June 30, 2026 (up to 20 hours/week) and may provide consulting (up to 40 hours/month) tied to deferred grant vesting.
• Post-employment restrictions: Mr. Eubanks remains subject to existing confidentiality, non-compete, non-solicit and non-disparagement covenants and agreed to 24-month limitations on acquiring equity or engaging in certain transactions involving the Advisor, Ashford entities and the Company.
• The full Release and Waiver Agreement is attached to the 8-K as Exhibit 99.1.

Why It Matters

• A change in the principal financial officer is material for investors because it affects financial leadership and reporting responsibility; the Company appointed an internal successor (Justin Coe), which may support continuity in accounting and financial operations.
• The separation includes substantial cash and deferred-pay arrangements (totaling multi-million-dollar payments and continued vesting of $3.316M in deferred grants), which are cash-flow and governance items investors may want to note when assessing the Advisor’s and related entities’ compensation commitments and executive transitions.