Xenia Hotels director awarded 6,098 LTIP units
Xenia Hotels & Resorts director Keith E. Bass received a grant of 6,098 LTIP Units as equity compensation.
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Form Type
4
Rhea-AI Filing Summary
Xenia Hotels & Resorts director Keith E. Bass received a grant of 6,098 LTIP Units as equity compensation. These LTIP Units were awarded at no cash cost and are linked to an equal number of shares of common stock on a one-for-one basis.
The LTIP Units are partnership units in XHR LP that can, over time and upon certain conditions in the partnership agreement, reach parity with common units. Once vested units reach parity, they may be converted into common units and ultimately redeemed for cash or shares of Xenia Hotels & Resorts common stock. Following this award, Bass holds 71,938 LTIP Units directly.
Insider Trade Summary
Grant/Award: 6,098 shares
Grant/Award
1 txn
Insider
BASS KEITH E
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | LTIP Units | 6,098 | $0.00 | $0.00 |
Holdings After Transaction:
LTIP Units — 71,938 contracts (Direct)
Footnotes (2)
- F1. LTIP Units are a class of limited partnership units in XHR LP (the "Operating Partnership"), of which the Issuer's wholly-owned subsidiary is the general partner. Initially, the LTIP Units do not have full parity with common limited partnership units of the Operating Partnership ("Common Units") with respect to liquidating distributions. However, upon the occurrence of certain events described in the Operating Partnership's partnership agreement, the LTIP Units can over time achieve full parity with the Common Units for all purposes. If such parity is reached, vested LTIP Units may be converted into an equal number of Common Units on a one for one basis at any time at the request of the Reporting Person or the general partner of the Operating Partnership.
- F2. (continued from Footnote 1) Common Units are redeemable for cash based on the fair market value of an equivalent number of shares of the Issuer's common stock, or, at the election of the Issuer, an equal number of shares of the Issuer's common stock, each subject to adjustment in the event of stock splits, specified extraordinary distributions or similar events. The LTIP Units issued pursuant to the Xenia Hotels & Resorts, Inc., XHR Holding, Inc. and XHR LP 2015 Incentive Award Plan were fully vested on the grant date.
Key Figures
LTIP Units granted: 6,098 units
Grant price per LTIP Unit: $0.0000
LTIP Units after transaction: 71,938 units
+1 more
4 metrics
LTIP Units granted
6,098 units
Award of LTIP Units to director Keith E. Bass
Grant price per LTIP Unit
$0.0000
Equity compensation award, no cash paid
LTIP Units after transaction
71,938 units
Total LTIP Units held directly by Bass following grant
Underlying common stock
6,098 shares
Each LTIP Unit corresponds to one share of common stock
Key Terms
LTIP Units, Common Units, Operating Partnership, liquidating distributions, +1 more
5 terms
LTIP Units financial
"LTIP Units are a class of limited partnership units in XHR LP"
LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.
Common Units financial
"Initially, the LTIP Units do not have full parity with common limited partnership units of the Operating Partnership ("Common Units")"
Common units are the basic ownership stakes in a company, limited partnership, or trust that function like common stock: they give holders a claim on profits and often voting rights. Think of them as the ordinary seats at a table—the most directly affected by the business’s success or failure, so they typically offer higher upside but carry greater risk than preferred claims or creditors, which matters to investors evaluating potential return and safety.
Operating Partnership financial
"LTIP Units are a class of limited partnership units in XHR LP (the "Operating Partnership")"
An operating partnership is a separate legal entity set up to own and run a company’s core assets and day-to-day businesses, while investors hold interests indirectly through the parent company. Think of it like a dedicated garage that actually stores and services the cars while the owner keeps the dealership; it matters to investors because it affects how income, taxes, liability and voting rights are allocated and therefore can influence distributions and risk.
liquidating distributions financial
"Initially, the LTIP Units do not have full parity with common limited partnership units ... with respect to liquidating distributions"
Payments made to shareholders from a company’s remaining cash or asset sale proceeds when the business is being wound up or reorganized. Like splitting the money after selling a shared house, these distributions return investors’ capital (often after creditors are paid) rather than representing regular profit payouts, so they matter because they determine how much investors recover and can affect tax treatment and final investment value.
2015 Incentive Award Plan financial
"The LTIP Units issued pursuant to the Xenia Hotels & Resorts, Inc., XHR Holding, Inc. and XHR LP 2015 Incentive Award Plan"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Xenia Hotels & Resorts (XHR) report for Keith E. Bass?
Xenia Hotels & Resorts reported that director Keith E. Bass received a grant of 6,098 LTIP Units. These units were awarded as equity compensation and are tied to an equal number of underlying shares of common stock, with no cash paid for the grant.
What are LTIP Units in the Xenia Hotels & Resorts (XHR) structure?
LTIP Units are a class of limited partnership units in XHR LP, Xenia’s operating partnership. Initially they have limited rights in liquidating distributions but may, over time and upon specified events, reach full parity with common units for economic purposes.
How can LTIP Units granted at Xenia Hotels & Resorts (XHR) convert into common equity?
Once LTIP Units reach full parity with common units and are vested, they may be converted into an equal number of common units. Those common units are then redeemable for cash based on common stock value or, at the issuer’s election, the same number of common shares.
How many LTIP Units does Keith E. Bass hold after this XHR grant?
After receiving the 6,098 LTIP Units, Keith E. Bass holds 71,938 LTIP Units directly. This figure reflects his total LTIP Units following the reported transaction, giving a sense of his overall equity-linked position in the operating partnership.
Was the 6,098-unit LTIP grant at Xenia Hotels & Resorts (XHR) an open-market purchase?
No, the 6,098 LTIP Units were granted as a compensation award, not bought in the open market. The Form 4 characterizes the transaction with code “A” for grant or award, with a price per unit of $0.0000, indicating no purchase transaction.
AI-generated analysis. How Rhea-AI works. Not financial advice.
