{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-25-124212","form_type":"8-K","ticker":"BHR","cik":"0001574085","company_name":"Braemar Hotels & Resorts Inc.","filed_at":"2025-12-23T23:59:59+00:00","discovered_at":"2026-05-14T18:02:39.797509+00:00","generated_at":"2026-05-16T12:15:30.155731+00:00","sec_items":["1.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Braemar Hotels amends advisory termination fee terms, clarifying payment waterfall in potential sale","bullets":["Amendment clarifies $480M Company Sale Fee and $25M Master Agreement Termination Fee paid from Net Sale Proceeds before any other distributions.","Defines 'Company Sale Transaction' as a Company Change of Control; fees due upon closing.","If multiple asset sales, subsequent Net Sale Proceeds applied until fees paid in full.","Upon stockholder approval of a liquidation plan, Master Agreements terminate subject to $25M fee payment.","Other property-level contracts remain in effect unless terminable by their terms."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-25-124212","json":"https://secwatch.observer/filing/0001104659-25-124212.json","markdown":"https://secwatch.observer/filing/0001104659-25-124212.md","text":"https://secwatch.observer/filing/0001104659-25-124212.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1574085/000110465925124212/0001104659-25-124212-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1574085/000110465925124212/tm2534123d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T12:15:30.155731+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}