BAIRD W BLAKE 4

What Happened

• Baird W. Blake, a director of Sunstone Hotel Investors (SHO), was granted a total of 22,872 shares on May 1, 2026: 12,234 vested shares and 10,638 restricted shares. The Form 4 lists these as awards/acquisitions (code A) with no purchase price (N/A), as these are equity grants rather than open-market buys or sales.

Key Details

• Transaction dates: May 1, 2026 (both grants); Form 4 filed May 5, 2026 (Accession 0001213596-26-000002).
• Amounts: 12,234 shares (vested grant — F1) and 10,638 shares (restricted grant — F2); total = 22,872 shares.
• Price: N/A (awards/grants — no cash purchase).
• Shares owned after transaction: not stated in the filing.
• Footnotes:
  • F1: Represents grant of vested shares of common stock pursuant to the 2022 Incentive Award Plan.
  • F2: Represents grant of restricted shares pursuant to the 2022 Incentive Award Plan; these restricted shares vest on the earlier of (i) the first anniversary of the grant or (ii) the date of the next annual meeting of stockholders, subject to continued service.
• Filing timing: Transactions dated May 1; Form 4 filed May 5. Form 4s are typically due within two business days of a reportable transaction, so the filing occurred several days after the transaction date.

Context

• These entries are equity awards, not purchases or sales. The 12,234-share grant was vested immediately (per F1), while the 10,638 restricted shares vest later per the stated schedule (per F2). Awards and vesting are often part of director compensation and do not, by themselves, indicate a personal purchase or sale decision.
• For retail investors, outright purchases by insiders can be a stronger signal of conviction than routine compensation-related grants.