BASS KEITH E 4
4 · Xenia Hotels & Resorts, Inc. · Filed May 15, 2026
Research Summary
AI-generated summary of this filing
Xenia Hotels (XHR) Director Keith Bass Receives LTIP Award
What Happened
Keith E. Bass, a director of Xenia Hotels & Resorts, Inc. (XHR), received a grant of 6,098 LTIP Units (a derivative limited partnership interest) on 2026-05-14. The filing reports these as an award/grant (transaction code A); no per-unit price or immediate cash value is disclosed. According to the filing, the LTIP Units were fully vested on the grant date.
Key Details
- Transaction date: 2026-05-14 (reported on Form 4 filed 2026-05-15). Filing appears timely.
- Transaction type/code: Award/Grant (A).
- Units granted: 6,098 LTIP Units. Price/value: N/A (not reported).
- Shares owned after transaction: not specified in the filing.
- Footnotes: LTIP Units are limited partnership units in the Operating Partnership. They initially lack full parity with common limited partnership units but can attain parity over time and, once parity is reached, vested LTIP Units may be converted one-for-one into Common Units. Common Units can be redeemed for cash based on fair market value or, at the issuer’s election, exchanged for shares of the issuer’s common stock. The LTIP Units granted were fully vested on the grant date.
Context
LTIP Units are a form of equity compensation rather than an open-market buy or sale; they may convert into economic exposure to the company’s common stock under the partnership agreement if certain conditions are met. Because this is an awarded/vested grant (not a purchase), it does not directly signal a market bet by the insider and may be part of routine compensation or director incentives. Potential future conversion or redemption could have dilution implications if converted into common-equivalent interests.
Insider Transaction Report
- Award
LTIP Units
[F1][F2]2026-05-14+6,098→ 71,938 total→ Common Stock (6,098 underlying)
Footnotes (2)
- [F1]LTIP Units are a class of limited partnership units in XHR LP (the "Operating Partnership"), of which the Issuer's wholly-owned subsidiary is the general partner. Initially, the LTIP Units do not have full parity with common limited partnership units of the Operating Partnership ("Common Units") with respect to liquidating distributions. However, upon the occurrence of certain events described in the Operating Partnership's partnership agreement, the LTIP Units can over time achieve full parity with the Common Units for all purposes. If such parity is reached, vested LTIP Units may be converted into an equal number of Common Units on a one for one basis at any time at the request of the Reporting Person or the general partner of the Operating Partnership.
- [F2](continued from Footnote 1) Common Units are redeemable for cash based on the fair market value of an equivalent number of shares of the Issuer's common stock, or, at the election of the Issuer, an equal number of shares of the Issuer's common stock, each subject to adjustment in the event of stock splits, specified extraordinary distributions or similar events. The LTIP Units issued pursuant to the Xenia Hotels & Resorts, Inc., XHR Holding, Inc. and XHR LP 2015 Incentive Award Plan were fully vested on the grant date.