Pebblebrook Hotel Trust — Director's Dealing 2025

Dec 16, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Pebblebrook Hotel Trust (PEB)
CIK: 0001474098
Period of Report: 2025-12-15

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-12-15	Common Shares	S	50000	$11.263	Disposed	1557110	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	200000	Indirect
5.70% Series H Preferred Shares	18000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
LTIP Class B Units	$		Common Shares (516131)	516131	Direct

Footnotes

F1: The securities were sold in multiple transactions at prices per share ranging from $11.14 to $11.58, inclusive. The price shown is a weighted average of the per-share prices in those transactions. The reporting person undertakes to provide to Pebblebrook Hotel Trust, any security holder of Pebblebrook Hotel Trust or the staff of the United States Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

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: Represents restricted units of limited partnership interest ("LTIP Class B Units") in Pebblebrook Hotel, L.P. (the "Operating Partnership"), of which the Issuer is the general partner. Vested LTIP Class B Units, upon achieving parity with the Operating Partnership's common units pursuant to the terms of the partnership agreement, may be exchanged at any time, at the election of the holder, for Operating Partnership units on a one-for-one basis or, at the Operating Partnership's option, an equivalent amount of cash. The LTIP Class B Units were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.