Pebblebrook Hotel Trust — Director's Dealing 2020

Jul 24, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Pebblebrook Hotel Trust (PEB)
CIK: 0001474098
Period of Report: 2020-07-24

Reporting Person: BORTZ JON E (Director, Chairman, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-07-24	Common Shares	M	109240	—	Acquired	915795	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-07-24	LTIP Class B Units	$	M	109240	Disposed		Common Shares (109240.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	200000	Indirect

Footnotes

F1: In July 2020, the reporting person converted 109,240 vested restricted units of limited partnership interest ("LTIP Units") in Pebblebrook Hotel LP, (the "Operating Partnership"), of which Pebblebrook Hotel Trust (the "Issuer") is the general partner, into Common Units of the Operating Partnership on a one-for-one basis. On July 24, 2020, the reporting person tendered 109,240 Common Units of the Operating Partnership for redemption. 109,240 of the Common Units were redeemed for an aggregate of 109,240 common shares of beneficial interest, $0.01 par value per share, of the Issuer.

F2: The reporting person disclaims beneficial ownership of these shares held by an immediate family member sharing his household, and this report should not be deemed an admission that the reporting person is the beneficial owner of such shares for purposes of Section 16 or for any other purpose.

F3: Vested LTIP Units, upon achieving parity with Common Units pursuant to the terms of the partnership agreement, may be converted at any time, at the election of the holder, for Common Units on a one-for-basis. The LTIP Units have no expiration date. The LTIP Units were issued pursuant to the Issuer's 2009 Equity Incentive Plan.