Company: BHR-PD
Filing Date: 2025-10-30
Form Type: DEF 14A
Source: 0001574085-25-000111
Chunk: 19

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-10-30
Form: DEF 14A
Chunk 19
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 Board also recognizes the importance of continuing education for directors and is committed to providing education opportunities in order to improve both the Board's and its committees' performance. Senior management will assist in identifying and advising our directors about opportunities for continuing education, including conferences provided by independent third parties.

2025 Proxy Statement 15

#### TABLE OF CONTENTS

#### Director Change in Occupation
Upon the time a director's principal occupation or business association changes substantially from the position he or she held when originally invited to join the Board, a director is required to tender a letter of proposed resignation from the Board to the chair of our Nominating and Corporate Governance Committee. Our Nominating and Corporate Governance Committee will review the director's continuation on the Board, and recommend to the Board whether, in light of all the circumstances, the Board should accept such proposed resignation or request that the director continue to serve.

#### Hedging and Pledging Policies
We maintain a policy that prohibits our directors and executive officers from holding Company securities in a margin account or pledging Company securities as collateral for a loan. Our policy also prohibits our directors and executive officers from engaging in speculation with respect to Company securities, and specifically prohibits our executives from engaging in any short-term, speculative securities transactions involving Company securities and engaging in hedging transactions.

#### Cooperation Agreement with Bob Ghassemieh
On August 25, 2025, the Company, Ashford Trust and Ashford Inc. (the " Company Group ") entered into a Cooperation Agreement (the “ Cooperation Agreement ”) with Bob Ghassemieh and certain of his affiliates (the “ Ghassemieh Parties ”) regarding the withdrawal of the Ghassemieh Parties’ proxy campaign and certain other matters. Pursuant to the Cooperation Agreement, the Ghassemieh Parties agreed to withdraw their nomination notice delivered to the Company on June 2, 2025, regarding the nomination of director candidates for election to the Board at the 2025 Annual Meeting. Also pursuant to the Cooperation Agreement, the Company agreed to appoint Bob Ghassemieh to the Board. The Company has also agreed to nominate Mr. Ghassemieh (or a Replacement Director, as defined in the Cooperation Agreement) for election at the Company's 2025 annual meeting of stockholders and 2026 annual meeting of stockholders (the " 2026 Annual Meeting "), subject to the terms of the Cooperation Agreement.

Additionally, the Ghassemieh Parties are subject to certain standstill restrictions from the date