Company: BHR-PD
Filing Date: 2025-10-30
Form Type: DEF 14A
Source: 0001574085-25-000111
Chunk: 32

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-10-30
Form: DEF 14A
Chunk 32
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 Board based on the recommendations of the Compensation Committee.

#### Corporate Governance
Our Compensation Committee believes that the integrity of corporate governance is reinforced by linking our executive officers' long-term interests to the interests of our stockholders through our compensation program. We believe that our compensation program provides appropriate performance-based incentives to attract and retain leadership talent, and to align officer and stockholder interests.

2025 Proxy Statement 24

#### TABLE OF CONTENTS
The following policies support our position:

| What We Do                                                                                                                                                                         |     | What We Don't Do                                                                                                                    |
| Pay for Performance.A substantial portion of our incentive compensation grants are tied to rigorous performance goals.                                                             |     | No Hedging/Pledging.We do not allow hedging or pledging of Company securities.                                                      |
| Equity Ownership Guidelines.We impose robust stock ownership guidelines on our executive officers.                                                                                 |     | Equity Ownership Guidelines.We do not count performance shares toward our stock ownership guidelines.                               |
| Clawback Policy.We must recover incentive compensation in various circumstances.                                                                                                   |     | No Dividends on Unvested Performance Shares.We do not pay dividends on unvested performance shares unless the shares actually vest. |
| Independent Compensation Consultant.Our Compensation Committee uses the consulting firm of Gressle & McGinley, which is independent and provides no other services to the Company. |     | No Stock Options.We do not grant stock options.                                                                                     |
| Compensation Risk Assessment.We conduct an annual compensation risk assessment.                                                                                                    |     | No Evergreen Provision.We have no evergreen provisions in our stock incentive plan.                                                 |
| External Advisor Compensation.We provide detailed disclosure of compensation paid by our advisor to our named executive officers.                                                  |     | No Perquisites.We do not provide our executive officers with any perquisites or retirement programs.                                |

#### Consideration of Say-on-Pay Vote
At our 2024 annual meeting of stockholders, we provided our stockholders with the opportunity to vote to approve, on a non-binding advisory basis, our executive compensation. Approximately 73% of the votes cast at our 2024 annual meeting of stockholders voted to approve our 2023 executive compensation. The Compensation Committee reviewed the results of this advisory "say-on-pay" vote and considered it in determining specific award amounts granted to our named executive officers for 2024. The Compensation Committee will also carefully consider future stockholder votes on this matter, along with other expressions of stockholder views it receives on specific policies and desirable actions.

#### Advisory Fee and Compensation Paid by the Advisor