Company: PEB
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001474098-25-000062
Chunk: 49

Company: Pebblebrook Hotel Trust
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 49
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., Chatham Lodging Trust, DiamondRock Hospitality Company, Host Hotels & Resorts, Inc., Park Hotels & Resorts Inc., RLJ Lodging Trust, Ryman Hospitality Properties, Inc., Summit Hotel Properties, Inc., Sunstone Hotel Investors, Inc. and Xenia Hotels & Resorts, Inc.

The 2024 compensation program further provides that 30% of the target number of performance units that may vest will be determined by the Company’s TSR itself (the “Absolute TSR Objective”).

The Compensation Committee established threshold levels of performance for both of the performance metrics, such that unless at least the threshold level of performance is met, no performance units will vest based on that metric. The maximum possible vesting overall will be 200%.

The following table shows the performance levels required for threshold, target, and maximum vesting (with payout levels between the threshold and target, or between target and the maximum, being interpolated) :

(1) If the Company’s TSR for the measurement period is negative, total payout will be capped at 100% regardless of the Relative TSR result.

If the Company’s TSR is less than 0% for the three-year measurement period ending December 31, 2026, then the maximum percentage of the target number of performance units will be capped at 100%, regardless of the degree of the Company’s out-performance, if any, against the Relative TSR Objective or the Absolute TSR Objective.

The threshold, target, and maximum number of performance units subject to the 2024 performance-based equity incentive awards for the Company’s three executive officers are as follows:

| Name             |     | Number of Performance Units Subject to Performance-Based Vesting |     |         |     |         |     | Value if MaximumNumber Vests(1) |
| Threshold        |     |                                                           Target |     | Maximum |     |         |     |                                 |
| Jon E. Bortz     |     |                                                           71,810 |     | 143,620 |     | 287,240 |     |                      $4,633,181 |
| Raymond D. Martz |     |                                                           30,454 |     |  60,908 |     | 121,816 |     |                      $1,964,892 |
| Thomas C. Fisher |     |                                                           30,454 |     |  60,908 |     | 121,816 |     |                      $1,964,892 |

(1) The amounts in this column show the dollar values of the performance