4//SEC Filing
Martz Raymond D 4
Accession 0001474098-21-000048
CIK 0001474098other
Filed
Feb 21, 7:00 PM ET
Accepted
Feb 22, 4:35 PM ET
Size
9.8 KB
Accession
0001474098-21-000048
Insider Transaction Report
Form 4
Martz Raymond D
Executive VP, and CFO
Transactions
- Award
Common Shares
2021-02-18+22,084→ 250,402 total - Award
Common Shares
2021-02-18$20.83/sh+9,445$196,739→ 259,847 total - Award
LTIP Class B Units
2021-02-18+192,031→ 250,852 total→ Common Shares (192,031 underlying)
Footnotes (3)
- [F1]All of these shares are restricted common shares that were granted to the reporting person by the Issuer's Board of Trustees (the "Board"). 7,362, 7,361, and 7,361 of these shares shall become vested and nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2022, January 1, 2023, and January 1, 2024, respectively.
- [F2]The Common Shares were issued to the reporting person, pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated, in lieu of cash based on the extent to which the performance objectives of the annual cash bonus award made in February 2020 had been achieved for the measurement period ended December 31, 2020. The reporting person earned 75% of the target amount of cash issuable pursuant to the award.
- [F3]Represents restricted units of limited partnership interest ("LTIP Class B Units") in Pebblebrook Hotel, L.P. (the "Operating Partnership"), of which the Issuer is the general partner. Vested LTIP Class B Units, upon achieving parity with the Operating Partnership units pursuant to the terms of the partnership agreement, may be exchanged at any time, at the election of the holder, for Operating Partnership units on a one-for-one basis or, at the Operating Partnership's option, an equivalent amount of cash. 48,008, 48,008, 48,008, and 48,007 LTIP Class B Units will vest, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2023, January 1, 2024, January 1, 2025, and January 1, 2026, respectfully. The LTIP Class B Units have no expiration date. The LTIP Class B Units were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.
Documents
Issuer
Pebblebrook Hotel Trust
CIK 0001474098
Entity typeother
Related Parties
1- filerCIK 0001326594
Filing Metadata
- Form type
- 4
- Filed
- Feb 21, 7:00 PM ET
- Accepted
- Feb 22, 4:35 PM ET
- Size
- 9.8 KB