---
schema_version: "secwatch.filing_event.v1"
accession: "0001574085-23-000029"
form_type: "8-K"
ticker: "BHR"
cik: "0001574085"
company_name: "Braemar Hotels & Resorts Inc."
filed_at: "2023-03-03T23:59:59+00:00"
generated_at: "2026-06-18T13:08:02.223908+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.2
calibrated_materiality_score: 0.2
confidence: "high"
source: SEC EDGAR
---

# Braemar Hotels & Resorts enters waiver to award cash incentive compensation to Advisor employees in Q1-Q2 2023

## Summary
- Waiver allows cash incentive compensation to employees/representatives of Advisor during first two fiscal quarters of 2023.
- Waiver is limited to this instance and does not affect other provisions of the Advisory Agreement.
- Company bears all costs of the cash incentive awards.
- Parties include Braemar Hotels & Resorts, its operating partnership, TRS, Ashford Inc., and Ashford Hospitality Advisors.

## SEC filing metadata
- accession: 0001574085-23-000029
- form_type: 8-K
- ticker: BHR
- cik: 0001574085
- company_name: Braemar Hotels & Resorts Inc.
- filed_at: 2023-03-03T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.2
- calibrated_materiality_score: 0.2
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1574085/000157408523000029/0001574085-23-000029-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1574085/000157408523000029/bhr-20230302.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001574085-23-000029
- JSON: https://secwatch.observer/filing/0001574085-23-000029.json
- Plain text: https://secwatch.observer/filing/0001574085-23-000029.txt

## Key facts
- Material Agreements
  Braemar Hotels & Resorts Inc. amended Limited Waiver Under Advisory Agreement with Braemar Hospitality Limited Partnership (the “Operating Partnership”), Braemar TRS Corporation (“TRS”), Ashford Inc. (“AINC”) and Ashford Hospitality Advisors LLC (together with AINC, the “Advisor”) valued at Waiver of limitations on cash incentive compensation awards for Q1 and Q2 2023 (effective 2023-03-02).
  - Action: amendment
  - Counterparty: Braemar Hospitality Limited Partnership (the “Operating Partnership”), Braemar TRS Corporation (“TRS”), Ashford Inc. (“AINC”) and Ashford Hospitality Advisors LLC (together with AINC, the “Advisor”)
  - Value: Waiver of limitations on cash incentive compensation awards for Q1 and Q2 2023
  - Effective: 2023-03-02
  source text: On March 2, 2023, Braemar Hotels & Resorts Inc. (the “Company”) entered into a Limited Waiver Under Advisory Agreement (the “Limited Waiver”) with Braemar Hospitality Limited Partnership (the “Operating Partnership”), Braemar TRS Corporation (“TRS”), Ashford Inc. (“AINC”) and Ashford Hospitality Advisors LLC (together with AINC, the “Advisor”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1574085/000157408523000029/0001574085-23-000029-index.htm

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