Martz Raymond D 4

What Happened

• Raymond D. Martz, Co‑President, Chief Financial Officer, Treasurer and Secretary of Pebblebrook Hotel Trust (PEB), was granted 56,218 restricted units of limited partnership interest (LTIP Class B Units) on February 5, 2026. The units were reported at $0.00 per unit (no cash paid at grant). This is an award/compensation grant rather than an open‑market purchase or sale.

Key Details

• Transaction date: 2026-02-05; Filing date (Form 4): 2026-02-09. Timeliness not specified in the filing.
• Grant type: 56,218 LTIP Class B Units (derivative interest in Pebblebrook Hotel, L.P.); reported price $0.00; reported value $0.
• Shares owned after transaction: not disclosed in the provided filing excerpt.
• Footnote: The LTIP Class B Units are restricted units issued under the 2009 Equity Incentive Plan. They vest in three tranches — 18,740 units on Jan 1, 2027; 18,739 on Jan 1, 2028; and 18,739 on Jan 1, 2029 — subject to continued service. Vested LTIP Class B Units may be exchanged one‑for‑one for the operating partnership’s common units, or for an equivalent cash amount at the partnership’s option. The LTIP Class B Units have no expiration date.

Context

• This was an equity compensation grant (A = Award/Grant). Such awards are routine as part of executive compensation and do not by themselves indicate a buy or sell signal in the market.
• Because these are restricted LTIP units, value to the holder depends on future vesting and parity/exchange into operating partnership units or cash; they are not immediately marketable shares.