Braemar CFO forfeits 88,747 performance stock units
Braemar Hotels & Resorts’ CFO and Treasurer Deric S. Eubanks reported the disposition of 88,747 Performance Stock Units (2023) back to the company.
Rhea-AI Filing Summary
Braemar Hotels & Resorts’ CFO and Treasurer Deric S. Eubanks reported the disposition of 88,747 Performance Stock Units (2023) back to the company. These units were forfeited because certain performance criteria for the 2023 performance award were not met, so no value was realized.
Each performance stock unit had represented the right, upon achieving specified performance-based vesting criteria, to receive up to two shares of Braemar’s common stock. After this filing, Eubanks continues to hold 201,197 Common Partnership Units and 289,999 shares of common stock directly, plus 533 shares held indirectly through his spouse’s IRA.
Positive
- None.
Negative
- None.
Insider Trade Summary
Disposition: 88,747 shares
Disposition
4 txns
Insider
Eubanks Deric S
Role
CFO and Treasurer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Performance Stock Units (2023) | 88,747 | $0.00 | $0.00 |
| holding | Common Partnership Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Performance Stock Units (2023) — 0 contracts (Direct);
Common Partnership Units — 201,197 contracts (Direct);
Common Stock — 289,999 shares (Direct);
Common Stock — 533 shares (Indirect, By spouse's IRA)
Footnotes (5)
- F1. Each performance stock unit ("Performance Stock Unit") award represented the right, upon achievement of certain specified performance-based vesting criteria, to receive up to two (2) shares of the Issuer's common stock.
- F2. Represents 88,747 Performance Stock Units that were forfeited due to certain performance criteria of the 2023 Performance Stock Unit award not being met
- F3. Reflects the aggregate number of Common Partnership Units currently held directly or indirectly, as noted, by the Reporting Person, some of which may have been converted from special long-term incentive partnership units ("LTIP Units") by the Reporting Person since the Reporting Person's most recent Form 4 or Form 5 filing. See Footnote 7 discussing the convertibility of the Common Partnership Units (as defined below).
- F4. Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"). Common Partnership Units are redeemable for cash or, at the option of the Issuer, redeemable for shares of the Issuer's common stock on a 1-for-1 basis.
- F5. Neither the Common Partnership Units nor vested LTIP Units (including any LTIP Units awarded upon achievement of the specified performance criteria relating to vested performance LTIP Units) have an expiration date.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did BHR CFO Deric Eubanks report on this Form 4?
Deric Eubanks reported the forfeiture and disposition to the issuer of 88,747 Performance Stock Units (2023). The units were cancelled because specified performance criteria tied to the 2023 award were not achieved, so he did not receive any shares or cash from this forfeiture.
Why were 88,747 Braemar Hotels (BHR) Performance Stock Units forfeited?
The 88,747 Performance Stock Units were forfeited because certain performance criteria for the 2023 Performance Stock Unit award were not met. These units only converted into common stock if performance-based vesting conditions were achieved, so they were cancelled when those conditions were not satisfied.
What did each 2023 Performance Stock Unit at Braemar (BHR) represent?
Each 2023 Performance Stock Unit represented the right, upon achievement of specified performance-based vesting criteria, to receive up to two shares of Braemar’s common stock. Without satisfying those performance conditions, the units do not convert to stock and can be forfeited, as disclosed here.
How many Braemar (BHR) Common Partnership Units does Deric Eubanks hold after this filing?
After the reported transactions, Deric Eubanks holds an aggregate 201,197 Common Partnership Units directly or indirectly. These Common Partnership Units are limited partnership interests in a subsidiary and are separately from his direct common stock holdings reported in the same Form 4 filing.
What are Braemar (BHR) Common Partnership Units and how can they be redeemed?
Common Partnership Units are common limited partnership units of a Braemar subsidiary. They are redeemable for cash or, at Braemar’s option, redeemable for shares of Braemar common stock on a 1-for-1 basis. Neither the Common Partnership Units nor vested LTIP Units have an expiration date.
What Braemar Hotels (BHR) common stock does Deric Eubanks own after the Form 4 event?
Following the reported transactions, Deric Eubanks directly owns 289,999 shares of Braemar common stock. In addition, 533 shares of Braemar common stock are held indirectly through his spouse’s IRA, as noted in the ownership information included with the Form 4 filing.
AI-generated analysis. How Rhea-AI works. Not financial advice.
