Company: PEB
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001474098-25-000062
Chunk: 37

Company: Pebblebrook Hotel Trust
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 37
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 believe this strong level of support reflects a high degree of shareholder confidence that the Company’s compensation program is rewarding our executives appropriately, particularly following the changes we implemented in 2023 to address shareholder feedback.

Our Compensation Committee is committed to having a compensation program that aligns the interests of our NEOs with those of our shareholders. In response to extensive conversations with shareholders collectively holding more than 50% of our outstanding Common Shares, in 2023 we adopted and incorporated the following best practices into our compensation program and continued those practices in 2024:

| ☑ |     | Committed not to make any special equity retention awards absent extraordinary circumstances.                                                                         |
| ☑ |     | All performance metrics are objective and quantitative.                                                                                                               |
| ☑ |     | Performance-based equity awards have a single multi-year measurement period (not less than three years), without any single-year portions.                            |
| ☑ |     | Threshold performance levels are established for every objective for annual cash incentive bonus and performance-based equity awards.                                 |
| ☑ |     | Endeavor to maintain aggregate compensation of our NEOs to be below the average of lodging REITs.                                                                     |
| ☑ |     | Each proxy statement contains clear disclosures, including clear rationale regarding Compensation Committee decisions and payouts on the annual cash incentive bonus. |

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#### Performance Highlights
In 2024, the Company navigated a dynamic and evolving market environment with significant opportunities and notable challenges. The Company faced persistent macroeconomic headwinds that impacted the transaction market and operating environment, including elevated inflation, rising interest rates and ongoing labor market challenges. The Company made significant strides in strengthening its balance sheet, securing multiple loan extensions, and raising new debt capital. These actions enhanced liquidity, positioning the Company to capitalize on strategic opportunities. The Company also navigated a prolonged and disruptive hurricane season, necessitating swift action to protect Company property and mitigate financial losses. Performance highlights for 2024 include the following:

• Successfully managed operating expenses - Successfully increased hotel-level productivity and operating efficiencies by implementing and auditing best practices, leveraging detailed benchmarking, and optimizing technology to streamline staffing levels and reduce energy and utility consumption. Additionally, the Company intensified efforts to reduce insurance program costs while simultaneously mitigating risk through targeted property improvements. As a result of the combined efforts to improve the Company’s hotels’ operating efficiencies, the growth of our hotels’ EBITDA per room for 2024 was the second highest among its peers.

• Continued development of