Form 4: Xenia Hotels & Resorts Executive Acquires Long-Term Incentive Plan Units

Barry A. Bloom, President and COO of Xenia Hotels & Resorts, reports the acquisition of 32,010 Long-Term Incentive Plan (LTIP) units on February 23, 2024.

Summary

• Barry A. Bloom, President and Chief Operating Officer of Xenia Hotels & Resorts, acquired 32,010 Long-Term Incentive Plan (LTIP) units on February 23, 2024.
• These LTIP units are a class of limited partnership units in XHR LP, where Xenia Hotels & Resorts' subsidiary acts as the general partner.
• The LTIP units do not initially have full parity with common limited partnership units but can achieve parity over time under certain conditions.
• Vested LTIP units can be converted into common units on a one-for-one basis.
• Common units are redeemable for cash or shares of Xenia Hotels & Resorts' common stock.
• The LTIP units vest in three tranches: 33% on March 2, 2025, 33% on March 2, 2026, and 34% on March 2, 2027, with potential for earlier vesting under specific circumstances.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating confidence in the company's future performance. The sentiment is neutral to slightly positive.

Positives

• The acquisition of LTIP units aligns the executive's interests with the long-term performance of the company.
• The vesting schedule encourages continued service and commitment from the executive.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedule of the LTIP units.

Management Comments

• Marcel Verbaas signed the document as Attorney-in-Fact for Barry A. Bloom.

Industry Context

This filing is a routine disclosure related to executive compensation and is common in the hospitality industry to incentivize and retain key personnel.

Comparison to Industry Standards

• LTIPs are a common form of executive compensation in the hospitality industry, used by companies like Marriott International and Hilton Worldwide to align executive incentives with shareholder value.
• The vesting schedule is typical, often spanning three to four years to encourage long-term commitment.

Stakeholder Impact

• The acquisition of LTIP units incentivizes the executive to drive long-term value for shareholders.
• Employees may view this as a positive sign of the company's commitment to its leadership.

Key Dates