Pebblebrook Hotel Trust (PEB) CEO awarded 127,369 LTIP Class B units

Rhea-AI Filing Summary

Pebblebrook Hotel Trust Chairman and CEO Jon E. Bortz reported an equity award in the form of 127,369 LTIP Class B Units on February 5, 2026, granted at $0 per unit. After this award, he holds 643,500 LTIP Class B Units directly.

The LTIP Class B Units are restricted partnership units in Pebblebrook Hotel, L.P. that, once vested and having achieved parity with common units, can be exchanged on a one-for-one basis for common units of the operating partnership or an equivalent amount of cash, at the operating partnership's option.

Bortz also directly holds 1,557,110 common shares and 18,000 5.70% Series H preferred shares of Pebblebrook Hotel Trust. An additional 200,000 common shares are held by his wife; he disclaims beneficial ownership of these family-held shares.

Of the awarded LTIP Class B Units, 42,457, 42,456, and 42,456 units are scheduled to vest on January 1, 2027, January 1, 2028, and January 1, 2029, respectively, subject to his continued employment. The LTIP Class B Units have no expiration date and were issued under the company’s 2009 Equity Incentive Plan, as amended and restated.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

BORTZ JON E

(Last) (First) (Middle)

4747 BETHESDA AVE

SUITE 1100

(Street)

BETHESDA MD 20814

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Pebblebrook Hotel Trust [ PEB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman and CEO

3. Date of Earliest Transaction (Month/Day/Year)
02/05/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares								1,557,110	D
Common Shares								200,000(1)	I	By wife
5.70% Series H Preferred Shares								18,000	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
LTIP Class B Units	(2)	02/05/2026		A		127,369		(2)	(2)	Common Shares	127,369	$0	643,500	D

Explanation of Responses:

1. The reporting person disclaims beneficial ownership of these shares held by an immediate family member sharing his household, and this report should not be deemed an admission that the reporting person is the beneficial owner of such shares for purposes of Section 16 or for any other purpose.

2. Represents restricted units of limited partnership interest ("LTIP Class B Units") in Pebblebrook Hotel, L.P. (the "Operating Partnership"), of which the Issuer is the general partner. Vested LTIP Class B Units, upon achieving parity with the Operating Partnership's common units pursuant to the terms of the partnership agreement, may be exchanged at any time, at the election of the holder, for the Operating Partnership's common units on a one-for-one basis or, at the Operating Partnership's option, an equivalent amount of cash. 42,457, 42,456 and 42,456 LTIP Class B Units will vest on January 1, 2027, January 1, 2028, and January 1, 2029, respectfully, subject to the reporting person's continued service as an employee of the Issuer. The LTIP Class B Units have no expiration date. The LTIP Class B Units were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

Remarks:

	/s/ Andrew H. Dittamo, as attorney-in-fact for Jon E Bortz	02/09/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider equity award did Pebblebrook (PEB) CEO Jon E. Bortz report?

Jon E. Bortz reported an award of 127,369 LTIP Class B Units on February 5, 2026. These are restricted partnership units in Pebblebrook Hotel, L.P., granted at $0 per unit and bringing his total LTIP Class B Units holdings to 643,500 directly.

How do Pebblebrook (PEB) LTIP Class B Units work for Jon E. Bortz?

The LTIP Class B Units are restricted limited partnership interests in Pebblebrook Hotel, L.P. Once vested and at parity with common units, they may be exchanged one-for-one into operating partnership common units or, at the partnership’s option, an equivalent amount of cash, with no expiration date.

What is the vesting schedule for Jon E. Bortz’s new Pebblebrook LTIP Class B Units?

The award includes 42,457, 42,456 and 42,456 LTIP Class B Units vesting on January 1, 2027, January 1, 2028, and January 1, 2029. Vesting is conditioned on Bortz’s continued service as an employee of Pebblebrook Hotel Trust through each vesting date.

How many Pebblebrook (PEB) common and preferred shares does Jon E. Bortz hold?

After the reported transactions, Bortz directly holds 1,557,110 common shares and 18,000 5.70% Series H preferred shares. Additionally, 200,000 common shares are held by his wife, and he expressly disclaims beneficial ownership of those family-held shares.

Are the family-held Pebblebrook (PEB) shares attributed to Jon E. Bortz?

The filing notes 200,000 common shares are held by his wife, an immediate family member sharing his household. Bortz disclaims beneficial ownership of these shares, stating the report should not be deemed an admission that he is their beneficial owner for Section 16 purposes.

Under which plan were Jon E. Bortz’s Pebblebrook LTIP Class B Units issued?

The LTIP Class B Units were issued under Pebblebrook Hotel Trust’s 2009 Equity Incentive Plan, as amended and restated. This plan authorizes equity-based awards, including these restricted partnership units in Pebblebrook Hotel, L.P., to align executive compensation with long-term company performance.