BASS KEITH E 4

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.