Company: PEB
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001474098-25-000062
Chunk: 8

Company: Pebblebrook Hotel Trust
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 8
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2) Extend the maturity date by 10 years by modifying the first sentence of Article XVII to read, “No Share Award, Performance Unit Award, Incentive Award, Option, SAR or Other Equity-Based Award may be granted under this Plan after June 30, 2026 2036.”

If the Amendment does not receive the required shareholder approval at the Annual Meeting, the Equity Incentive Plan, as currently in effect and without regard to the Amendment, will remain in effect. In addition, if the Amendment does not receive the required approval and the share authorization of the Equity Incentive Plan is exhausted, the Company may need to provide greater cash incentive opportunities in order to provide appropriate and competitive compensation for its named executive officers and other key employees. Cash incentives are more costly to the Company and provide for less alignment of interests than awards of equity.

The Board also believes that increasing the number of Common Shares that may be issued under the Equity Incentive Plan is critical to supporting the Company’s emphasis on motivating and compensating its executive officers and its other employees with equity-based compensation to maintain and strengthen the alignment of their interests with those of the Company and the shareholders. The Company currently expects the duration of the increased number of Common Shares available under the Equity Incentive Plan, as amended by the Amendment, will be sufficient for the next three to four years.

#### Burn Rate
The following table provides detailed information regarding the activity related to our equity incentive plans for fiscal years 2022, 2023 and 2024.

|                                                 |     | Fiscal Year |      |             |      |      |             |      |      |             | Three-Year Average |      |             |
|                                                 |     |        2022 |      |             | 2023 |      |             | 2024 |      |             |                    |      |             |
| Options / Share Appreciation Rights granted     |     |             |    — |             |      |    — |             |      |    — |             |                    |    — |             |
| Time-based shares/units granted(1)              |     |             |      |     177,661 |      |      |     299,840 |      |      |     322,984 |                    |      |     266,828 |
| Performance-based shares/units vested           |     |             |    — |             |      |      |      94,291 |      |      |     117,684 |