Richard J. Stockton - Aug 27, 2025 Form 4 Insider Report for Braemar Hotels & Resorts Inc. (BHR)

Role: CEO and President, Director
Signature: /s/ Richard J. Stockton
Stock symbol: BHR
Transactions as of: Aug 27, 2025
Transactions value $: $125,733
Form type: 4
Date filed: 8/28/2025, 04:15 PM
Previous filing: Jun 17, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Stockton Richard J	CEO and President, Director	14185 DALLAS PARKWAY, SUITE 1200, DALLAS	/s/ Richard J. Stockton	2025-08-28	0001688739

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BHR	Series B Preferred Stock	Purchase	$89.7K	+5.75K	+70.53%	$15.60^*	13.9K	Aug 27, 2025	By RJS Living Trust	F1
transaction	BHR	Series B Preferred Stock	Purchase	$36.1K	+2.25K	+16.22%	$16.00^*	16.2K	Aug 27, 2025	By RJS Living Trust
holding	BHR	Common Stock						1.17M	Aug 27, 2025	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	BHR	Performance Stock Units (2023)						176K	Aug 27, 2025	Common Stock	176K	$0.00	Direct	F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The price reported in Column 4 is a weighted average price, rounded to the nearest cent. These shares were purchased in multiple transactions at prices ranging from $14.99 to $15.98. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission ("SEC"), upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
F2	Each performance stock unit ("Performance Stock Unit") award represents the right, upon achievement of certain specified performance-based vesting criteria, to receive up to two (2) shares of the Issuer's common stock.
F3	Represents the target number of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the target number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on December 31, 2025.