Company: DRH-PA
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001298946-25-000015
Chunk: 142

Company: DiamondRock Hospitality Co
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 142
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 and 2022, we recorded approximately $4.2 million, $3.0 million, and $2.3 million, respectively, of compensation expense net of forfeitures related to the PSUs. The compensation expense recorded for the year ended December 31, 2024 included $1.8 million of accelerated compensation expense related to PSUs for the departures of our former Chief Executive Officer and Chief Investment Officer. The accelerated compensation expense is recorded as severance costs in corporate expenses within the consolidated statements of operations and comprehensive income. The compensation expense recorded for the year ended December 31, 2022 includes the reversal of $0.5 million of previously recognized compensation expense in connection with the resignation of our former Executive Vice President, Asset Management and Chief Operating Officer. LTIP Units

F-28

         A summary of our LTIP units from January 1, 2022 to December 31, 2024 is as follows:Number ofUnitsWeighted-Average GrantDate FairValueUnvested balance at January 1, 2022135,388 $10.22 Granted71,084 9.32 Vested (1)(108,422)10.38Unvested balance at December 31, 202298,050 9.39 Granted257,270 8.94Vested (1)(41,183)9.49Unvested balance at December 31, 2023314,137 9.01 Granted97,477 8.72Vested (1)(271,487)8.94Unvested balance at December 31, 2024140,127 $9.85 ______________________(1)As of December 31, 2024, all vested LTIP units have achieved economic parity with common OP units and have been converted to common OP units.The remaining unvested LTIP units are expected to vest as follows: 46,709 during 2025, 2026, and 2027. As of December 31, 2024, the unrecognized compensation cost related to LTIP unit awards was $1.0 million and the weighted-average period over which the unrecognized compensation expense will be recorded is approximately 28 months. For the years ended December 31, 2024, 2023, and 2022, we recorded $2.0 million, $0.8 million, and $0.5 million, respectively, of compensation expense