BORTZ JON E 4

What Happened

• Jon E. Bortz, Chairman, CEO and Director of Pebblebrook Hotel Trust (PEB), was granted 127,369 restricted LTIP Class B units (a derivative award) on February 5, 2026. The units were reported at $0.00 on the Form 4 (award/derivative transaction), so the filing shows no cash paid at grant. These LTIP Class B units may be exchanged for Operating Partnership common units (one-for-one) or an equivalent cash amount when they achieve parity per the partnership agreement.

Key Details

• Transaction date: 2026-02-05; Form 4 filed: 2026-02-09 (timely filing within required period).
• Reported price: $0.00 (award/derivative — code A on Form 4).
• Units granted: 127,369 LTIP Class B Units (restricted units of limited partnership interest).
• Vesting schedule: 42,457 units vest on 1/1/2027; 42,456 units vest on 1/1/2028; 42,456 units vest on 1/1/2029, subject to continued service.
• Shares/units owned after transaction: Not specified in the provided filing excerpt.
• Footnotes:
  • F1: Reporting person disclaims beneficial ownership of shares held by an immediate family member in the same household.
  • F2: LTIP Class B Units can convert one-for-one to Operating Partnership common units (or cash at OP's option) when parity is achieved; no expiration date; issued under the issuer's 2009 Equity Incentive Plan.

Context

• This is a compensation award (derivative restricted units), not an open-market purchase or sale. Such awards are common for executive compensation and do not necessarily signal immediate buying or selling of company stock. The units vest over three years and only convert to Operating Partnership common units (or cash) upon meeting parity conditions and subject to continued service.