Company: BHR-PD
Filing Date: 2025-10-30
Form Type: DEF 14A
Source: 0001574085-25-000111
Chunk: 27

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-10-30
Form: DEF 14A
Chunk 27
---
 Bennett's annual equity award and deferred cash is not granted in respect of his service on the Board, but instead in recognition of the extraordinary service that he provides to the Company indirectly through his employment with our advisor, and is therefore disclosed in the “All Other Compensation” column. The approximate balance of $2.4 million is attributable to deferred cash awards. The deferred cash award amount consists of a one-third allocation from Mr. Bennet’s 2022 award, one-third from his 2023 award and one-third from his 2024 award of approximately $461,000, $979,000 and $927,000, respectively (the portions of those awards that vested and became payable in 2024). Mr. Bennett did not receive an equity award in 2024. See Notes 2, 11, and 14 to our consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2024 for a discussion of the assumptions used in the valuation of stock-based awards. As of December 31, 2024, Mr. Bennett held 352,590 performance-based LTIP Units that remain subject to vesting conditions (which reflect the maximum amount that could be earned in respect of such LTIP Units).

(3) Messrs. Abteen Vaziri’s, Kenneth H. Fearn, Jr.’s and Jay Shah's service as directors ceased on December 17, 2024, December 18, 2024 and June 2, 2025, respectively.

Compensation Committee Interlocks and Insider Participation

During 2024, each of Mses. Evans and Odino-Johnson and Messrs. Rinaldi and Shah served on our Compensation Committee. Each of those persons was or is an independent director throughout the period for which they served or have served on our Compensation Committee during 2024 and thereafter. None of these directors was, is or has ever been an officer or employee of our Company. None of our executive officers serves, or during 2024 served, as (i) a member of a Compensation Committee (or Board committee performing equivalent functions) of any entity, one of whose executive officers served as a director on our Board or as a member of our Compensation Committee, or (ii) a director of another entity, one of whose executive officers served or serves on our Compensation Committee. No member of our Compensation Committee has or had in 2024 any relationship with the Company requiring disclosure as a related party transaction under "