Form 4: Chatham Lodging Trust Director Receives Share Grant as Part of 2024 Compensation

Mary Elizabeth Higgins, a director at Chatham Lodging Trust, received 8,754 common shares as part of her 2024 board compensation.

Summary

• Mary Elizabeth Higgins, a director of Chatham Lodging Trust, received 8,754 common shares on January 15, 2025.
• This share grant is part of her compensation for serving on the board of trustees in 2024.
• 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.
• Following this transaction, Ms. Higgins beneficially owns 38,236 common shares.

Sentiment

Score: 7

Explanation: The document reflects a routine compensation practice, which is generally positive for aligning director interests with shareholders. There are no negative implications.

Positives

• The share grant aligns director compensation with company performance.
• The use of a ten-day average closing price provides a fair valuation for the shares.

Industry Context

This type of share-based compensation is common practice for board members in publicly traded companies, aligning their interests with those of shareholders.

Comparison to Industry Standards

• Share-based compensation for board members is a standard practice across the real estate investment trust (REIT) industry, similar to companies like Host Hotels & Resorts (HST) and Park Hotels & Resorts (PK).
• The use of a trailing average share price for valuation is also a common method to mitigate short-term market fluctuations, similar to practices used by other REITs.
• The number of shares granted is likely based on a pre-determined compensation plan, which is typical for board members in publicly listed companies.

Stakeholder Impact

• The share grant aligns the director's interests with those of shareholders.
• The compensation structure is transparent and previously disclosed.

Key Dates

Keywords

Chatham Lodging Trust, Director Compensation, Share Grant, Beneficial Ownership, Board of Trustees, CLDT, SEC Form 4