Vaziri Abteen 4
4 · Braemar Hotels & Resorts Inc. · Filed Sep 30, 2020
Insider Transaction Report
Form 4
Vaziri Abteen
Director
Transactions
- Award
LTIP Units
2020-09-28$2.46/sh+2,614$6,430→ 12,963 totalExercise: $0.00→ Common Stock
Holdings
- 3,333
Common Stock
- 11,400
Common Partnership Units
Exercise: $0.00→ Common Stock
Footnotes (5)
- [F1]Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Partnership Units.
- [F2]The LTIP Units were issued to the Reporting Person under the Issuer's 2013 Equity Incentive Plan in lieu of certain cash retainer fees and were fully vested upon grant.
- [F3]Neither the Common Partnership Units nor vested LTIP Units have an expiration date.
- [F4]Common Partnership Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.
- [F5]Reflects the aggregate number of Common Partnership Units currently held directly or indirectly, as noted, by the Reporting Person. On July 16, 2020, 5,700 LTIP Units converted to Common Partnership Units. See Footnote 4 discussing the convertibility of the Common Partnership Units.