---
schema_version: "secwatch.filing_event.v1"
accession: "0001474098-23-000057"
form_type: "8-K"
ticker: "PEB"
cik: "0001474098"
company_name: "Pebblebrook Hotel Trust"
filed_at: "2023-02-24T23:59:59+00:00"
generated_at: "2026-06-19T00:39:59.607336+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001474098-23-000057
- form_type: 8-K
- ticker: PEB
- cik: 0001474098
- company_name: Pebblebrook Hotel Trust
- filed_at: 2023-02-24T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 5.03, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1474098/000147409823000057/0001474098-23-000057-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1474098/000147409823000057/peb-20230217.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001474098-23-000057
- JSON: https://secwatch.observer/filing/0001474098-23-000057.json
- Plain text: https://secwatch.observer/filing/0001474098-23-000057.txt

## Key facts
- Governance Changes
  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
  source text: 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,”
  evidence_url: https://www.sec.gov/Archives/edgar/data/1474098/000147409823000057/0001474098-23-000057-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.