Company: BHR-PD
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001574085-25-000024
Chunk: 250

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 8
Chunk 250
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LTIP unitsAdvisory services fee209 1,039 1,229 LTIP unitsCorporate, general and administrative3 14 28 LTIP units - independent directorsCorporate, general and administrative154 182 252 Total$2,208 $5,680 $5,810 The unamortized cost of the unvested Performance LTIP units of approximately $77,000 at December 31, 2024 will be expensed over a period of 1.0 year with a weighted average period of 1.0 year. 

A summary of the activity of the units in our operating partnership is as follows (in thousands):Year Ended December 31,202420232022Units outstanding at beginning of year7,224 8,283 7,158 LTIP units issued151 44 44 Performance LTIP units issued— 353 1,194 Units redeemed for shares of common stock— (1,456)— Performance LTIP units cancelled(155)— (113)Units outstanding at end of year7,220 7,224 8,283 Units convertible/redeemable at end of year6,244 4,292 5,841 

The following table presents the common units redeemed for cash (in thousands):Year Ended December 31,202420232022Units redeemed— 1,456 — Cash value of common units redeemed$— $7,162 (1)$— ____________________________________(1)    Includes Mr. Monty J. Bennett’s 1.4 million common units redeemed for cash of approximately $7.0 million during February 2023.

14. Equity 

Common Stock Dividends—The following table summarizes the common stock dividends declared during the period (in thousands):Year Ended December 31,202420232022Common stock dividends declared$13,401 $13,423 $5,665 

8.25% Series D Cumulative Preferred Stock—At December 31, 2024 and 2023, there were 1.6 million shares of 8.25% Series D cumulative preferred stock outstanding. The Series D cumulative preferred stock ranks senior to all classes or series of the Company’s common stock and future junior securities, on a parity with each series of the Company’s outstanding preferred stock (the Series B cumulative convertible preferred stock) and with any future parity securities and junior to future