Form 4: Braemar Hotels & Resorts Director Monty J. Bennett Reports Changes in Beneficial Ownership

Director Monty J. Bennett reports changes in beneficial ownership of Braemar Hotels & Resorts Inc. securities, including transactions involving common stock, preferred stock, and derivative securities.

Summary

• Monty J. Bennett, a director of Braemar Hotels & Resorts Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
• The report includes transactions involving common stock, Series E Redeemable Preferred Stock, and various Performance LTIP Units.
• Bennett directly owns 14,152 shares of common stock.
• He indirectly owns 267 shares of common stock through his spouse.
• He indirectly owns 44,444 shares of Series E Redeemable Preferred Stock through MJB Investments, LP.
• The report details the vesting and convertibility of Performance LTIP Units into Common Partnership Units, which are in turn redeemable for cash or common stock.
• Transactions on March 6, 2024, involved the conversion of Performance LTIP Units and LTIP Units into Common Partnership Units.
• Bennett indirectly holds Common Partnership Units through Texas Yarrow LLC, Ashford Financial Corporation, and his spouse.
• The reporting person disclaims interest in all other securities of the Issuer or the Subsidiary owned directly by Ashford Financial Corporation.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing, so the sentiment is neutral.

Future Outlook

The actual number of Performance LTIP Units that may vest can range from 0% to 200% of the target number of Performance LTIP Units, based on achievement of specified performance metrics.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.

Key Dates