Braemar COO Jeremy Welter to depart July 15; severance worth ~$7.15M plus benefits and equity acceleration

Braemar Hotels & Resorts Inc.

Jeremy Welter will resign as COO of Braemar Hotels & Resorts, Ashford Trust, and Ashford Inc. effective July 15, 2022.
Welter receives a $750,000 lump-sum payment plus $6,397,067 in 24 equal monthly installments starting August 2022.
Health, life, and disability benefit continuation for up to 24 months post-resignation; COBRA reimbursement for up to 12 additional months.
All outstanding equity incentive awards from Braemar and Ashford Trust will vest as if terminated without cause.
Welter remains subject to non-compete and non-solicitation covenants; acquires a 24-month standstill on buying stock in affiliates.

item 5.02 item 9.01

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Departed

Jeremy Welter

Chief Operating Officer

BHR · Braemar Hotels & Resorts Inc.

Effective: 2022-07-15
Filed: April 19, 2022, 7:59 PM ET

Mr. Welter is also the Chief Operating Officer of Ashford Hospitality Trust, Inc. (“Ashford Trust”) and Braemar Hotels & Resorts Inc. (the “Company”) and accordingly his service as Chief Operating Officer of each of Ashford Trust and the Company will also end effective as of the Resignation Date.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Jeremy Welter resigned as Chief Operating Officer at Braemar Hotels & Resorts Inc..

Action: resigned
Role: Chief Operating Officer

Exact text from the filing

Mr. Welter is also the Chief Operating Officer of Ashford Hospitality Trust, Inc. (“Ashford Trust”) and Braemar Hotels & Resorts Inc. (the “Company”) and accordingly his service as Chief Operating Officer of each of Ashford Trust and the Company will also end effective as of the Resignation Date.

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Braemar Hotels & Resorts Inc. filing history →

Source: SEC EDGAR

accession 0001104659-22-046990

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