Company: BHR-PD
Filing Date: 2025-04-29
Form Type: 10-K/A
Source: 0001574085-25-000040
Chunk: 20

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-04-29
Form: 10-K/A
Chunk 20
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 completed Q4 2024 |     |           |     | Achieved |
| Maintain liquidity of $50M(1)                                                                                  |     |                             $50M |     |   $207.9M |     | Achieved |
| Conduct at least 200 interactions with investors/ analysts consisting of calls, meetings, and/or presentations |     |                              200 |     |       279 |     | Achieved |

(1) Including cash and cash equivalents, restricted cash, marketable securities, due from third party managers, and available credit facility.

(2) As of 12/31/2024.

Based on its review of 2024 performance and in conjunction with cost-saving efforts, the Committee determined to award a reduced total amount of deferred cash compensation award as compared to the prior year, despite the Company’s attainment of all of the six business objectives in 2024.

For 2025, the Company continued its reliance on deferred cash payments (“Deferred Cash Awards”) and determined, for 2025, to grant long-term incentive awards exclusively in that form in lieu of providing part of the award in the form of performance stock units “PSUs”) or performance LTIP Units (“Performance LTIPs”). 1/12th of the Deferred Cash Award will vest generally subject to continued service over the 12 calendar quarters first ending March 31, 2025 and thereafter. Previously granted PSUs and Performance LTIPs remain outstanding in accordance with their terms.

A summary of the Deferred Cash Awards granted in March 2025 to our named executive officers is as follows.

|                     |     | Deferred Cash Amount ($) |           |
| Richard J. Stockton |     |                          | 2,096,369 |
| Deric S. Eubanks    |     |                          | 1,147,717 |
| Alex Rose           |     |                          |   919,482 |
| Justin Coe          |     |                          |   321,563 |

As noted above, the Company in the past has granted equity in the form of LTIP units. The LTIP units are a special class of partnership units in Braemar OP called “long-term incentive partnership units.” Grants of LTIP units are designed to offer executives the same long-term incentive as restricted stock, while allowing them more favorable income tax treatment. Each LTIP unit awarded is deemed equivalent to an award of one share of common stock reserved under our stock incentive plan, reducing availability for other equity awards, because LTIP units