Company: DRH-PA
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001298946-25-000085
Chunk: 65

Company: DiamondRock Hospitality Co
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 65
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 units (“LTIP units”), which are also referred to as profits interest units, may be issued to eligible participants under the 2024 Equity Incentive Plan for the performance of services to or for the benefit of our operating partnership. LTIP units are a class of partnership unit in our operating partnership and will receive, whether vested or not, the same per-unit distributions as the outstanding common OP units, which equal per-share dividends on shares of our common stock. Initially, LTIP units have a capital account balance of zero, do not receive an allocation of operating income (loss), and do not have full parity with common OP units with respect to liquidating distributions. If such parity is reached, vested LTIP units are converted into an equal number of common OP units, and thereafter will possess all of the rights and interests of common OP units, including the right to exchange the common OP units for cash per unit equal to the market price of our common stock, at the time of redemption, or, at our option, for shares of our common stock on a one-for-one basis, subject to adjustment upon the occurrence of stock splits, mergers, consolidations or similar pro-rata share transactions. See Note 9 for additional disclosures related to LTIP units. There were 1,041,362 and 994,653 common OP units held by third parties and executive officers of the Company as of September 30, 2025 and December 31, 2024, respectively. There were 93,418 and 140,127 unvested LTIP units outstanding as of September 30, 2025 and December 31, 2024, respectively.Dividends and DistributionsDuring 2025, we paid the following dividends to holders of our common stock:

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Payment DateRecord DateDividend per Share/UnitJanuary 14, 2025December 31, 2024$0.23 April 11, 2025March 28, 2025$0.08 July 11, 2025June 30, 2025$0.08 October 14, 2025September 30, 2025$0.08 During 2025, we paid the following dividends to holders of our Series A Preferred Stock:Payment DateRecord DateDividend per ShareMarch 28, 2025March 20, 2025$0.515625 June 30, 2025June 20, 2025