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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_________________________________________________________
FORM 8-K
_________________________________________________________
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): November 12, 2026
_________________________________________________________
HOST HOTELS & RESORTS, INC.
(Exact Name of Registrant as Specified in Charter)
_________________________________________________________
| | | | | | | | |
Maryland | 001-14625 | 53-0085950 |
(State or Other Jurisdiction
of Incorporation) | (Commission
File Number) | (IRS Employer
Identification No.) |
| | | | | |
4747 Bethesda Avenue, Suite 1300 Bethesda, Maryland | 20814 |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (240) 744-1000
_________________________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| | | | | |
| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| | | | | | | | | | | | | | |
| Title of Each Class | | Trading Symbol | | Name of Each Exchange on
Which Registered |
| Common Stock, $.01 par value | | HST | | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 1.01. Entry into a Material Definitive Agreement.
On November 12, 2026, Host Hotels & Resorts, Inc. (the “Company”) entered into a distribution agreement (the “Distribution Agreement”) with (i) J.P. Morgan Securities LLC, BofA Securities, Inc., Wells Fargo Securities, LLC, BNY Mellon Capital Markets, LLC, Cantor Fitzgerald & Co., Capital One Securities, Inc., Goldman Sachs & Co. LLC, Jefferies LLC, M&T Securities, Inc., Morgan Stanley & Co. LLC and Scotia Capital (USA) Inc., as sales agents (in such capacity, each, a “Sales Agent” and collectively, the “Sales Agents”) or (other than Capital One Securities, Inc. and M&T Securities, Inc.), as forward sellers acting as sales agents for the respective Forward Purchasers (as defined below) (in such capacity, each a “Forward Seller,” and collectively, the “Forward Sellers”), and (ii) the Forward Purchasers (as defined below). Pursuant to the Distribution Agreement, the Company or any Forward Seller (as agent for its corresponding Forward Purchaser) may offer and sell, from time to time, shares of the Company’s common stock, par value $0.01 per share, having a combined aggregate offering price of up to $600 million (the “Shares”). The Distribution Agreement is attached hereto as Exhibit 1.1 and is incorporated herein by reference.
Substantially concurrently with the Company’s entry into the Distribution Agreement, the Company terminated its existing distribution agreement, dated as of May 31, 2023, among the Company and the agents, forward sellers and forward purchasers party thereto (as amended on May 27, 2026, the “Prior Distribution Agreement”), in accordance with the terms of the Prior Distribution Agreement. At the time of the termination of the Prior Distribution Agreement, shares of the Company’s common stock, par value $0.01 per share, having a combined aggregate offering price of up to $600 million, remained unsold under the Prior Distribution Agreement. As a result, the entry into the Distribution Agreement on November 12, 2026 effectively replaces the Prior Distribution Agreement.
The Shares will be offered and sold through the Sales Agents over a period of time and from time to time in transactions that are deemed to be “at the market” offerings as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended, at then-current market prices or in other transactions permitted by law, pursuant to the Distribution Agreement, and only one of the Sales Agents may sell the Shares on a particular day or specified period of days. The Company is not obligated to sell, and none of the Sales Agents are obligated to buy or sell, any Shares under the Distribution Agreement. The Company shall specify to the applicable Sales Agent (i) the date or dates on which the Shares may be sold, (ii) the maximum number of Shares or maximum dollar amount worth of Shares to be sold on, or over the course of, such date(s) and (iii) the minimum price below which sales may not be made. Under the Distribution Agreement, the Company may also sell Shares to a Sales Agent as principal for its own account, at a price to be agreed upon at the time of sale. If the Company sells Shares to a Sales Agent as principal, it will enter into a separate terms agreement with such Sales Agent.
The Company will pay each Sales Agent a commission that will not exceed, but may be lower than, 2% of the gross proceeds of all Shares sold through such Sales Agent under the Distribution Agreement and will reimburse the Sales Agents for certain expenses incurred in connection with their services under the Distribution Agreement. The Company intends to use the net proceeds from the sale of the Shares from time to time and any net proceeds received upon settlement of any forward sale agreement to fund future potential acquisitions and for general corporate purposes.
The Distribution Agreement contemplates that, in addition to the offering and sale by the Company of Shares to or through the Sales Agents, the Company may enter into separate forward sale agreements with each of JPMorgan Chase Bank, National Association, Bank of America, N.A., Wells Fargo Bank, National Association, The Bank of New York Mellon, CF Secured, LLC, Goldman Sachs & Co. LLC, Jefferies LLC, Morgan Stanley & Co. LLC and The Bank of Nova Scotia, as forward purchasers (in such capacity, each, a “Forward Purchaser” and collectively, the “Forward Purchasers”). If the Company enters into a forward sale agreement with any Forward Purchaser, then the Company expects that such Forward Purchaser (or its affiliate) will attempt to borrow from third parties and sell, through the relevant Forward Seller, Shares to hedge such Forward Purchaser’s exposure under such forward sale agreement. The Company will not receive any proceeds from any sale of Shares borrowed by a Forward Purchaser (or its affiliate) and sold through a Forward Seller.
In connection with each forward sale agreement, the applicable Forward Seller will receive a commission that will not exceed, but may be lower than, 2% of the gross sales price of the borrowed Shares sold through such Forward
Seller during the applicable forward selling period for such Shares (subject to certain possible adjustments to such gross sales price) and the Company will reimburse the Forward Sellers and the Forward Purchasers for certain expenses incurred in connection with their services under the Distribution Agreement.
The Company currently expects to fully physically settle each forward sale agreement, if any, with the relevant Forward Purchaser on one or more dates specified by the Company on or prior to the maturity date of such forward sale agreement, in which case the Company expects to receive aggregate net cash proceeds at settlement equal to the number of shares specified in such forward sale agreement multiplied by the relevant forward price per share. However, subject to certain exceptions, the Company may also elect, in its sole discretion, to cash settle or net share settle all or any portion of its obligations under any forward sale agreement, in which case the Company may not receive any proceeds (in the case of cash settlement) or will not receive any proceeds (in the case of net share settlement), and the Company may owe cash (in the case of cash settlement) or shares of its common stock (in the case of net share settlement) to the relevant Forward Purchaser.
Host Hotels & Resorts, L.P., through which the Company conducts all operations, and for which the Company is the sole general partner, is a party to the Seventh Amended and Restated Credit Agreement, dated as of October 21, 2026, as amended, under which an affiliate of certain of the Sales Agents is an agent and/or a lender. Each of the Sales Agents, the Forward Sellers and their respective affiliates may have engaged in, or may in the future engage in, investment banking and other commercial dealings in the ordinary course of business with the Company or its affiliates. They have received, or may in the future receive, customary fees and commissions for these transactions.
This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
The foregoing descriptions of the material terms of the Distribution Agreement and the transactions contemplated thereby do not purport to be complete and are qualified in their entirety by reference to the full text of the Distribution Agreement attached hereto as Exhibit 1.1 and incorporated herein by reference.
Item 8.01. Other Events.
The Shares will be offered pursuant to the Company’s shelf registration statement (the “Registration Statement”) on Form S-3ASR (File No. 333-286435), filed on April 8, 2025 with the Securities and Exchange Commission (the “SEC”). In connection with the offering contemplated by the Distribution Agreement, the Company has filed with the SEC a prospectus supplement, dated November 12, 2026, to the prospectus dated April 8, 2025 that is part of the Registration Statement.
In connection with the filing of the prospectus supplement, the Company is filing as Exhibit 5.1 to this Current Report on Form 8-K an opinion of its counsel, Venable LLP, regarding certain Maryland law issues regarding the Shares.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| | | | | | | | |
Exhibit No. | | Description |
| 1.1 | | Distribution Agreement, dated November 12, 2026, among Host Hotels & Resorts, Inc., J.P. Morgan Securities LLC, BofA Securities, Inc., Wells Fargo Securities, LLC, BNY Mellon Capital Markets, LLC, Cantor Fitzgerald & Co., Capital One Securities, Inc., Goldman Sachs & Co. LLC, Jefferies LLC, M&T Securities, Inc., Morgan Stanley & Co. LLC and Scotia Capital (USA) Inc., as sales agents and (other than Capital One Securities, Inc. and M&T Securities, Inc.) forward sellers, and JPMorgan Chase Bank, National Association, Bank of America, N.A., Wells Fargo Bank, National Association, The Bank of New York Mellon, CF Secured, LLC, Goldman Sachs & Co. LLC, Jefferies LLC, Morgan Stanley & Co. LLC and The Bank of Nova Scotia, as forward purchasers. |
| 5.1 | | Opinion of Venable LLP. |
| | | | | | | | |
| 23.1 | | Consent of Venable LLP (included as part of Exhibit 5.1). |
| 104 | | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
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| HOST HOTELS & RESORTS, INC. |
| | |
| Date: November 12, 2026 | By: | /S/ JOSEPH C. OTTINGER |
| Name: | Joseph C. Ottinger |
| Title: | Senior Vice President and Corporate Controller |
