Company: PEB
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001474098-25-000062
Chunk: 44

Company: Pebblebrook Hotel Trust
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 44
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 Board established target cash incentive bonuses for 2024 for Messrs. Bortz, Martz, and Fisher of $1,345,000, $570,000, and $570,000, respectively. As a percentage of annual base salary for Mr. Bortz and each of Messrs. Martz and Fisher, the target amounts were 165% and 105%, respectively. As a percentage of target total compensation for Mr. Bortz and each of Messrs. Martz and Fisher, the target amounts were 24% and 22%, respectively.

#### Annual Objectives - Performance Expectations
To earn any of the cash incentive bonus, the Company had to perform against the six annual objectives in 2024 that the Compensation Committee set in February 2024. The objectives, all of which were quantitatively and objectively measurable, were designed to align the incentives of the Company’s employees and management with the interests of the Company’s shareholders.

The following table provides a summary of the performance metrics and objectives for the 2024 cash incentive bonus, their weightings and, for each, the results required to have any payout (threshold), target payout and maximum payout.

(1) Total payout will be capped at 200% even if maximum results for individual performance metrics are achieved and it will be capped at 100% if a material weakness is found.

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The details of each annual performance metric and objective for 2024 are as follows:

• 2024 Adjusted FFO per Share (25% weighting) - target performance required achieving the Company’s 2024 adjusted FFO per share target of $1.40, as adjusted to reflect hotel or real estate sold or acquired, including any respective balance sheet impacts and any quantifiable adjustment for properties impacted by named storms.

• Gross Proceeds from Dispositions in 2024 (20% weighting) - target performance required generating $75 million of gross sales proceeds to reduce the Company’s outstanding debt, increase reinvestment capacity and to provide capital for share repurchases.

• Relative Hotel EBITDA per Key Increase for 2024 (10% weighting) - target performance required generating hotel-level EBITDA per key fourth within a group of eight peer companies in the full-service hotel sector (Ryman Hospitality Properties, DiamondRock Hospitality Company, Host Hotels & Resorts, Inc., Park Hotels & Resorts Inc., RLJ Lodging Trust, Sunstone Hotel Investors, Inc., Xenia Hotels &