Pebblebrook Hotel Trust authorizes $150M common and $100M preferred share repurchase; appoints Co-Presidents

Pebblebrook Hotel Trust

Board authorized $150M common and $100M preferred share repurchase programs; no expiration.
Raymond Martz and Thomas Fisher appointed Co-Presidents; Bortz remains CEO/Chairman, President title removed.
2023 compensation: Bortz base $790k, target bonus $1.3M; Martz and Fisher base $525k, target bonus $550k each.
Long-term equity: 40% time-based (LTIP units/shares) and 60% performance units tied to TSR over 3 years.
Bylaws amended for universal proxy rules and majority voting standard.

item 1.01 item 5.03 item 5.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Pebblebrook Hotel Trust: Amended and restated bylaws primarily to address universal proxy rules under Rule 14a-19, with additional enhancements and technical changes (effective 2023-02-17).

Change: bylaw amendment
Effective: 2023-02-17

Exact text from the filing

On February 17, 2023, the Board amended and restated the Company’s bylaws (as so amended and restated, the “Bylaws”) primarily to address Rule 14a-19 under the Securities Exchange Act of 1934, as amended, commonly referred to as the “universal proxy rules,”

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Pebblebrook Hotel Trust filing history →

Source: SEC EDGAR

accession 0001474098-23-000057

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