Company: DRH-PA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001298946-25-000077
Chunk: 66

Company: DiamondRock Hospitality Co
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 66
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 and employees generally vest over a three to five year period from the date of grant based on continued employment. We measure compensation expense for the restricted stock awards based upon the fair market value of our common stock at the date of grant. Compensation expense is recognized on a straight-line basis over the vesting period and is included in corporate expenses in the accompanying consolidated statements of operations and comprehensive income. A summary of our restricted stock awards from January 1, 2025 to June 30, 2025 is as follows:Number ofSharesWeighted-Average GrantDate FairValueUnvested balance at January 1, 2025621,595 $8.90 Granted478,098 8.21 Vested(249,994)9.01 Unvested balance at June 30, 2025849,699 $8.48 The total unvested restricted stock awards as of June 30, 2025 are expected to vest as follows: 7,986 during the remainder of 2025, 401,192 during 2026, 271,928 during 2027, 167,332 during 2028, and 1,261 during 2029. As of June 30, 2025, the unrecognized compensation cost related to restricted stock awards was $5.9 million and the weighted-average period over which the unrecognized compensation expense will be recorded is approximately 27 months. We recorded $0.8 million and $1.5 million of compensation expense related to restricted stock awards for the three and six months ended June 30, 2025, respectively. We recorded $2.9 million and $3.9 million of compensation expense related to restricted stock awards for the three and six months ended June 30, 2024, respectively, which included $2 million of accelerated compensation expense related to restricted stock awards for the departures of our former Chief Executive Officer and Chief Investment Officer. The accelerated compensation expense is recorded as severance costs in corporate expenses within the consolidated statements of operations and comprehensive income.   Performance Stock Units 

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Performance stock units (“PSUs”) are restricted stock units that generally vest three years from the date of grant. Each executive officer is granted a target number of PSUs (the “PSU Target Award”). For PSUs granted in 2025, the actual number of shares of common stock issued to each executive officer is based on the Company's achievement of certain levels of total stockholder return relative to