Company: BHR-PD
Filing Date: 2025-04-29
Form Type: 10-K/A
Source: 0001574085-25-000040
Chunk: 34

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-04-29
Form: 10-K/A
Chunk 34
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 awards computed in accordance with FASB ASC Topic 718 on the date of the grant. See notes 2, 11 and 14 to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2024 for a discussion of the assumptions used in the valuation of stock-

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based awards. Mses. Evans and Carter and Messrs. Vaziri and Shah elected to receive their equity awards in the form of LTIP units, while the remaining non-executive directors elected to receive shares of common stock.

(2) As described above, Mr. Bennett's annual equity award and deferred cash is not granted in respect of his service on the Board, but instead in recognition of the extraordinary service that he provides to the Company indirectly through his employment with our advisor, and is therefore disclosed in the “All Other Compensation” column. The approximate balance of $2.4 million is attributable to deferred cash awards. The deferred cash award amount consists of a one-third allocation from Mr. Bennet’s 2022 award, one-third from his 2023 award and one-third from his 2024 award of approximately $461,000, $979,000 and $927,000, respectively (the portions of those awards that vested and became payable in 2024). Mr. Bennett did not receive an equity award in 2024. See Notes 2, 11, and 14 to our consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2024 for a discussion of the assumptions used in the valuation of stock-based awards. As of December 31, 2024, Mr. Bennett held 352,590 performance-based LTIP Units that remain subject to vesting conditions (which reflect the maximum amount that could be earned in respect of such LTIP Units).

(3) Messrs. Abteen Vaziri’s and Kenneth H. Fearn, Jr.’s service as directors ceased on December 17, 2024 and December 18, 2024, respectively.

Compensation Committee Interlocks and Insider Participation

During 2024, each of Mses. Evans and Odino-Johnson and Messrs. Rinaldi and Shah served on our Compensation Committee. Each of those persons was or is an independent director throughout the period for which they served or have served on our Compensation Committee during 2024 and thereafter. None of these directors was