Company: PEB
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001474098-25-000062
Chunk: 39

Company: Pebblebrook Hotel Trust
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 39
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6.375% amid strong investor demand; and

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◦ Strategically leveraged recent debt pay downs and transaction fees to negotiate an extension of the majority of the remaining $200 million 2025 term loan and the $650 million revolving credit facility to 2029, significantly extending debt maturities

• Strategically exercised patience to capture better transaction opportunities in the future

◦ Continued to evaluate potential sales across the portfolio strategically, with a focus on slow-to-recover urban markets in a transaction market that had not accelerated despite the reduction in short-term interest rates in September and November 2024; and

◦ Decided to forego numerous disposition opportunities at unattractive valuations in favor of remaining patient in anticipation of an improving transaction market in the future.

• Maintained and strengthened financial controls and risk management - The annual audit of our internal controls and procedures found no material weaknesses or significant deficiencies.

#### Compensation Highlights
In February 2024, the Compensation Committee established our 2024 compensation program. Highlights include:

• Annual base salary comprises only 14% of target total compensation for the CEO and 21% for the other NEOs.

• Target cash incentive bonus comprises 24% of target total compensation for the CEO and 22% for the other NEOs.

◦ 90% of target cash incentive bonus for 2024 is based on objective, quantitative criteria.

◦ Each performance metric has a threshold level which must be met or payout on that metric will be zero.

◦ Although the payout for each performance metric may be as much as 250% if maximum performance is achieved, no executive officer can receive more than a maximum of 200% of their target cash incentive bonus.

◦ If a material weakness is found, the total payout will be capped at just 100%.

• Long-term equity-based awards are the largest components of our NEOs’ target total compensation (62% for the CEO and 57% for the other NEOs).

◦ 60% vest based on performance

▪ Performance is measured after a three-year period, without any one-year measurement periods within the three-year measurement period;

▪ Performance is measured with two metrics, not just one:

• 70% of target is based on the Company’s total shareholder return (“TSR”) relative to the TSRs of the Company’s peers; and

• 30% of target is based on the Company’s TSR alone;

▪ In addition to