Company: BHR-PD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001574085-25-000051
Chunk: 101

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 101
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:Income (loss) allocated to unvested performance stock units$19 $23 Income (loss) attributable to redeemable noncontrolling interests in operating partnership(262)296 Dividends on preferred stock - Series B1,058 1,058 Interest expense on Convertible Senior Notes1,131 1,123 Dividends on preferred stock - Series E (inclusive of deemed dividends)10,892 — Dividends on preferred stock - Series M (inclusive of deemed dividends)770 1,121 Total$13,608 $3,621 Weighted average diluted shares are not adjusted for:Effect of unvested performance stock units43 13 Effect of assumed conversion of operating partnership units6,786 5,902 Effect of assumed conversion of preferred stock - Series B4,116 4,116 Effect of assumed conversion of Convertible Senior Notes16,267 13,609 Effect of assumed conversion of preferred stock - Series E135,669 — Effect of assumed conversion of preferred stock - Series M13,959 22,340 Total176,840 45,980 

17

BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

11. Redeemable Noncontrolling Interests in Operating Partnership

Redeemable noncontrolling interests in the operating partnership represent the limited partners’ proportionate share of equity and their allocable share of equity in earnings/losses of Braemar OP, which is an allocation of net income/loss attributable to the common unitholders based on the weighted average ownership percentage of these limited partners’ common units of limited partnership interest in the operating partnership (the “common units”) and units issued under our Long-Term Incentive Plan (the “LTIP units”) that are vested. Each common unit may be redeemed, by the holder, for either cash or, at our sole discretion, up to one share of our REIT common stock, which is either: (i) issued pursuant to an effective registration statement; (ii) included in an effective registration statement providing for the resale of such common stock; or (iii) issued subject to a registration rights agreement.LTIP units, which are issued to certain executives and employees of Ashford LLC as compensation, generally have vesting periods of three years