Form 4: Chatham Lodging Trust Director Acquires Shares as Part of 2024 Compensation

Director David Grissen acquired 11,763 common shares of Chatham Lodging Trust as part of his 2024 board compensation.

Summary

• David Grissen, a director of Chatham Lodging Trust, acquired 11,763 common shares on January 15, 2025.
• These shares were granted as part of his 2024 compensation for serving on the board of trustees.
• The share grant represents the share-based portion of the company's annual compensation to its trustees.
• Mr. Grissen elected to receive 50% of his cash election annual base fee in shares.
• The per-share value was calculated using the average closing price of the company's common shares on the New York Stock Exchange for the last ten trading days of 2024.
• The price per share was $9.14.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to slightly positive as it aligns interests.

Positives

• The share grant aligns the director's interests with those of the shareholders.
• The use of the average closing price over ten days provides a fair valuation for the shares.

Industry Context

This is a standard practice for compensating board members, aligning their interests with the company's performance.

Comparison to Industry Standards

• Many companies use a combination of cash and equity to compensate board members.
• The practice of using a trailing average share price for valuation is common to avoid price manipulation.
• The 50% cash and 50% share split is a common compensation structure for board members.

Stakeholder Impact

• The share grant has a minor positive impact on shareholders as it aligns director interests with company performance.

Key Dates

Keywords

Chatham Lodging Trust, Director, Share Acquisition, Board Compensation, Common Shares, SEC Form 4, David Grissen