SVC Form 4: Director Adam Portnoy awarded 87,719 shares, trust holds 1.67M

Rhea-AI Filing Summary

Adam D. Portnoy, a director of Service Properties Trust (NASDAQ:SVC), reported an equity award on 09/09/2025 under the issuer's compensation plan that resulted in the acquisition of 87,719 common shares. After the award, Mr. Portnoy directly beneficially owns 373,086 shares.

He also is associated with an indirect position of 1,672,783 shares held by ABP Trust; the filing notes Mr. Portnoy is the sole trustee and controlling shareholder of ABP Trust but expressly disclaims beneficial ownership except to the extent of his pecuniary interest.

Positive

• Director received equity award of 87,719 shares, which aligns his compensation with shareholder interests
• Direct beneficial ownership increased to 373,086 shares, showing continued insider stake in SVC

Negative

• Substantial indirect holdings of 1,672,783 shares held by ABP Trust may concentrate control and raise governance considerations
• Filing lacks detail on vesting schedule or restrictions for the awarded shares, limiting assessment of timing and liquidity

Insights

Financial Analyst

TL;DR: Routine equity award increases the director's direct stake but appears non-material to firmwide capitalization.

The Form 4 documents an equity grant of 87,719 common shares to a director under the company's compensation plan, increasing his direct holdings to 373,086 shares. This is a standard insider compensation event and typically signals alignment of interests between management and shareholders. The filing does not disclose exercise prices, vesting schedules, or cash proceeds, and contains no indications of sales or other dispositions, limiting assessment of immediate market impact.

Corporate Governance Expert

TL;DR: Director received an equity award; substantial indirect holdings through a trust could affect governance perception.

The filing confirms Mr. Portnoy is a director and the sole trustee and controlling shareholder of ABP Trust, which holds 1,672,783 shares. While he disclaims beneficial ownership of the trust's shares except for pecuniary interest, the concentration of voting power via a related trust may be material to governance analysis. The disclosure is factual and routine but warrants attention when evaluating control dynamics or related-party influence.

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

OMB APPROVAL

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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^*

PORTNOY ADAM D.

(Last) (First) (Middle)

C/O THE RMR GROUP LLC

TWO NEWTON PL., 255 WASH. ST., STE. 300

(Street)

NEWTON MA 02458

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Service Properties Trust [ NASDAQ:SVC ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/09/2025

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 of Beneficial Interest	09/09/2025		A		87,719	A	(1)	373,086	D
Common Shares of Beneficial Interest								1,672,783	I	See Footnote(2)

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

Explanation of Responses:

1. Transaction reported is award of shares pursuant to the Issuer's equity compensation plan.

2. These shares are held by ABP Trust; Mr. Portnoy, as the sole trustee, an officer and the controlling shareholder of ABP Trust, may be deemed to be a beneficial owner of these shares, but Mr. Portnoy disclaims such beneficial ownership except to the extent of his pecuniary interest therein.

	/s/ Adam D. Portnoy	09/11/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Adam D. Portnoy report on Form 4 for SVC?

The Form 4 reports an equity award of 87,719 common shares granted on 09/09/2025 under the issuer's compensation plan.

How many SVC shares does Adam D. Portnoy directly own after the transaction?

After the reported award, Mr. Portnoy directly beneficially owns 373,086 shares.

Does Adam D. Portnoy have indirect holdings in SVC?

Yes. The filing discloses 1,672,783 shares held by ABP Trust; Mr. Portnoy is the sole trustee and controlling shareholder of that trust.

What is Mr. Portnoy's relationship to Service Properties Trust?

The form lists Mr. Portnoy as a Director of Service Properties Trust.

When was the Form 4 signed and filed?

The signature block shows the filing was signed by Adam D. Portnoy on 09/11/2025.