0001474098-21-000046.txt : 20210222
0001474098-21-000046.hdr.sgml : 20210222
20210222163350
ACCESSION NUMBER: 0001474098-21-000046
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20210218
FILED AS OF DATE: 20210222
DATE AS OF CHANGE: 20210222
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: BORTZ JON E
CENTRAL INDEX KEY: 0001229310
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-34571
FILM NUMBER: 21660813
MAIL ADDRESS:
STREET 1: PEBBLEBROOK HOTEL TRUST
STREET 2: 10319 WESTLAKE DRIVE, SUITE 112
CITY: BETHESDA
STATE: MD
ZIP: 20817
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Pebblebrook Hotel Trust
CENTRAL INDEX KEY: 0001474098
STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798]
IRS NUMBER: 271055421
STATE OF INCORPORATION: MD
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 4747 BETHESDA AVENUE
STREET 2: SUITE 1100
CITY: BETHESDA
STATE: MD
ZIP: 20814
BUSINESS PHONE: 240-507-1300
MAIL ADDRESS:
STREET 1: 4747 BETHESDA AVENUE
STREET 2: SUITE 1100
CITY: BETHESDA
STATE: MD
ZIP: 20814
4
1
wf-form4_161402961738992.xml
FORM 4
X0306
4
2021-02-18
0
0001474098
Pebblebrook Hotel Trust
PEB
0001229310
BORTZ JON E
4747 BETHESDA AVE
SUITE 1100
BETHESDA
MD
20814
1
1
0
0
Chairman, President and CEO
Common Shares
2021-02-18
4
A
0
53769
0
A
952391
D
Common Shares
2021-02-18
4
A
0
22485
20.83
A
974876
D
Common Shares
200000
I
By wife
LTIP Class B Units
2021-02-18
4
A
0
216035
A
Common Shares
216035.0
216035
D
All of these shares are restricted common shares that were granted to the reporting person by the Issuer's Board of Trustees (the "Board"). 17,923, 17,923, and 17,923 of these shares shall become vested and nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2022, January 1, 2023, and January 1, 2024, respectively.
The Common Shares were issued to the reporting person, pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated, in lieu of cash based on the extent to which the performance objectives of the annual cash bonus award made in February 2020 had been achieved for the measurement period ended December 31, 2020. The reporting person earned 75% of the target amount of cash issuable pursuant to the award.
The reporting person disclaims beneficial ownership of these shares held by an immediate family member sharing his household, and this report shall 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.
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 units pursuant to the terms of the partnership agreement, may be exchanged at any time, at the election of the holder, for Operating Partnership units on a one-for-one basis or, at the Operating Partnership's option, an equivalent amount of cash. 54,009, 54,009, 54,009 and 54,008 LTIP Class B Units will vest, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2023, January 1, 2024, January 1, 2025, and January 1, 2026, respectfully. 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.
/s/ Andrew H. Dittamo, as attorney-in-fact, for Jon E Bortz
2021-02-22