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

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-10-30
Form: DEF 14A
Chunk 30
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 medical device and other industries domestically and internationally. 
 Mr. Coe holds Bachelor of Business Administration and Master of Accountancy degrees from Texas State University - San Marcos and is a licensed certified public accountant (CPA) in the state of Texas.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |

2025 Proxy Statement 23

#### TABLE OF CONTENTS

### EXECUTIVE COMPENSATION

### Compensation Discussion and Analysis
The following is a discussion of the compensation program adopted for our named executive officers, which include Mr. Stockton, our President and Chief Executive Officer, Mr. Eubanks, our Chief Financial Officer, Mr. Rose, our Executive Vice President, General Counsel and Secretary, and Mr. Coe, our Chief Accounting Officer. Also included below is a discussion of the incentive compensation awarded to our named executive officers in 2025 with respect to 2024 performance. This discussion should be read together with the compensation tables and related disclosures set forth elsewhere in this proxy statement.

#### Compensation of Our Executive Officers
We are externally advised by Ashford Inc. pursuant to an advisory agreement. Ashford Inc., through its operating company Ashford LLC, is responsible for implementing our investment strategies and managing our operations. Our advisor manages the day-to-day operations of our Company and our affiliates in exchange for an advisory fee, the terms of which are described under “ Our Relationship and Agreements with Ashford Inc. and its Subsidiaries. ” As a consequence of this management arrangement and although the Company has executive officers, it does not have any employees. Each of the Company's executive officers is, however, an employee of our advisor and is compensated by our advisor in his capacity as such. During all of 2022, 2023 and 2024, the cash compensation received by our executive officers was paid to those persons by Ashford Inc. in their capacity as employees of our advisor. However, our executive officers (as well as employees of our advisor) continue to be eligible to receive equity-based awards (to the extent of equity available for future grants under incentive plans established by us from time to time), as well as certain deferred cash awards. We do not, however, provide any other compensation or employee benefit plans for our executive officer.

#### Compensation Objectives & Philosophy
The objectives of our equity compensation program are to: (i) motivate our executive officers to achieve the Company's business and strategic objectives; (ii) align the interests of key leadership with the long-term interests of the Company's stockholders; and (