Company: DRH-PA
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001298946-25-000049
Chunk: 53

Company: DiamondRock Hospitality Co
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 53
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 See Note 9 for additional disclosures related to LTIP units. There were 1,027,145 and 994,653 common OP units held by unaffiliated third parties and executive officers of the Company as of March 31, 2025 and December 31, 2024, respectively. There were 107,635 and 140,127 unvested LTIP units outstanding as of March 31, 2025 and December 31, 2024, respectively.Dividends and DistributionsWe have paid the following dividends to holders of our common stock during 2025 as follows:Payment DateRecord DateDividend per Share/UnitJanuary 14, 2025December 31, 2024$0.23 April 11, 2025March 28, 2025$0.08 We have paid the following dividends to holders of our Series A Preferred Stock during 2025 as follows:Payment DateRecord DateDividend per ShareMarch 28, 2025March 20, 2025$0.515625 

9.  Equity Incentive Plans

We are authorized to issue up to 7,900,000 shares of our common stock under our 2024 Equity Incentive Plan (the "2024 Plan"), of which we have issued or committed to issue 2,449,628 shares as of March 31, 2025. Shares underlying awards that are granted under the 2024 Plan that are forfeited, cancelled, reacquired prior to vesting, satisfied without the issuance of stock or otherwise terminated (other than by exercise), including shares tendered or held back upon settlement of an award, other than a stock option or stock appreciation right, to cover the tax withholding will be added back to the shares available for issuance under the 2024 Plan.Restricted Stock AwardsRestricted stock awards issued to our officers and employees generally vest over a three to five year period from the date of grant based on continued employment. We measure compensation expense for the restricted stock awards based upon the fair market value of our common stock at the date of grant. Compensation expense is recognized on a straight-line basis over the vesting period and is included in corporate expenses in the accompanying consolidated statements of operations and comprehensive income. A summary of our restricted stock awards from January 1, 2025 to March 31, 2025 is as follows:

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Number ofSharesWeighted-Average GrantDate FairValueUnvested balance