Company: DRH-PA
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001298946-25-000015
Chunk: 141

Company: DiamondRock Hospitality Co
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 141
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9, 202273.3 %3.20 %$9.65 $9.32 February 23, 202374.5 %4.40 %$9.22 $8.94 May 7, 202436.5 %4.64 %$8.03 $8.72 A summary of our PSUs from January 1, 2022 to December 31, 2024 is as follows:Number ofUnitsWeighted-Average GrantDate FairValueUnvested balance at January 1, 2022969,240 $9.45 Granted407,570 9.66 Additional units from dividends3,600 7.89 Vested (1)(269,224)10.14 Forfeited(160,533)9.34 Unvested balance at December 31, 2022950,653 9.35 Granted363,523 9.08 Additional units from dividends17,886 8.35 Vested (2)(299,766)9.01 Unvested balance at December 31, 20231,032,296 9.34 Granted364,799 8.36 Additional units from dividends13,340 8.93 Vested (3)(301,861)9.32 Unvested balance at December 31, 20241,108,574 $9.02 ______________________(1)The number of shares of common stock earned for the PSUs vested in 2022 was equal to 105.71% of the PSU Target Award.(2)The number of shares of common stock earned for the PSUs vested in 2023 was equal to 103.36% of the PSU Target Award.(3)The number of shares of common stock earned for the PSUs vested in 2024 was equal to 95.56% of the PSU Target Award.The remaining unvested PSUs expected to vest are as follows: 332,534 during 2025, 372,513 in 2026 and 403,527 during 2027. As of December 31, 2024, the unrecognized compensation cost related to the PSUs was $2.8 million and is expected to be recognized on a straight-line basis over a period of 25 months. For the years ended December 31, 2024, 2023,