BHR

SEC source: 0001104659-24-063065 · tm2414778-3_4seq1.xml · nonDerivative · entry 1

Rinaldi Matthew D · CIK 0001590869 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 106,689

F1 · kind: The Reporting Person received the shares pursuant to a stock grant from the Issuer, under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan, in connection with the Reporting Person's continued service on the Issuer's Board of Directors.

F1 · price: The Reporting Person received the shares pursuant to a stock grant from the Issuer, under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan, in connection with the Reporting Person's continued service on the Issuer's Board of Directors.

SEC source: 0001104659-24-063063 · tm2414778-2_4seq1.xml · derivative · entry 2

Vaziri Abteen · CIK 0001716587 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 47,098

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · security: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Partnership Units.

F1 · derivative.exercise_price: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Partnership Units.

F2 · kind: The LTIP Unit awards reported herein were issued as an annual grant under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan, in connection with the Reporting Person's continued service on the Issuer's Board of Directors.

F2 · price: The LTIP Unit awards reported herein were issued as an annual grant under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan, in connection with the Reporting Person's continued service on the Issuer's Board of Directors.

F1 · derivative.exercise_date: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Partnership Units.

F3 · derivative.expiration_date: Neither the Common Partnership Units nor vested LTIP Units have an expiration date.

F1 · derivative.underlying: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Partnership Units.

F1 · derivative.underlying_shares: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Partnership Units.

SEC source: 0001104659-24-063062 · tm2414778-1_4seq1.xml · derivative · entry 2

Carter Stefani D · CIK 0001591372 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 18,414

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · security: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Partnership Units.

F1 · derivative.exercise_price: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Partnership Units.

F2 · kind: The LTIP Unit awards reported herein were issued as an annual grant under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan, in connection with the Reporting Person's continued service on the Issuer's Board of Directors.

F2 · price: The LTIP Unit awards reported herein were issued as an annual grant under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan, in connection with the Reporting Person's continued service on the Issuer's Board of Directors.

F1 · derivative.exercise_date: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Partnership Units.

F3 · derivative.expiration_date: Neither the Common Partnership Units nor vested LTIP Units have an expiration date.

F1 · derivative.underlying: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Partnership Units.

F1 · derivative.underlying_shares: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Partnership Units.

SEC source: 0001104659-24-036202 · tm249213-1_4seq1.xml · nonDerivative · entry 1

Eubanks Deric S · CIK 0001608195 · CFO and Treasurer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 289,999

F1 · kind: Represents shares of common stock forfeited to the Issuer to satisfy tax-withholding obligations arising as a result of the vesting of restricted stock held by the Reporting Person.

F2 · price: Represents the closing price of the common stock on March 14, 2024, the last trading day before the date of forfeiture.

SEC source: 0001104659-24-032502 · tm248317-4_4seq1.xml · derivative · entry 6

Stockton Richard J · CIK 0001688739 · Director · CEO and President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 40,532

Underlying: Common Stock · 40,532 shares

Expires not disclosed

F8 · security: Reflects the aggregate number of Common Partnership Units currently held directly or indirectly, as noted, by the Reporting Person, some of which may have been converted from LTIP Units by the Reporting Person since the Reporting Person's most recent Form 4 or Form 5 filing. See Footnote 9 discussing the convertibility of the Common Partnership Units.

F9 · derivative.exercise_price: Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"). Common Partnership Units are redeemable for cash or, at the option of the Issuer, redeemable for shares of the Issuer's common stock on a 1-for-1 basis.

F10 · shares: Represents dividend equivalent rights that accrued on a Performance LTIP Unit award pursuant to the dividend reinvestment feature of the award.

F9 · price: Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"). Common Partnership Units are redeemable for cash or, at the option of the Issuer, redeemable for shares of the Issuer's common stock on a 1-for-1 basis.

F8 · derivative.exercise_date: Reflects the aggregate number of Common Partnership Units currently held directly or indirectly, as noted, by the Reporting Person, some of which may have been converted from LTIP Units by the Reporting Person since the Reporting Person's most recent Form 4 or Form 5 filing. See Footnote 9 discussing the convertibility of the Common Partnership Units.

F5 · derivative.expiration_date: Neither the Common Partnership Units nor vested LTIP Units (including any LTIP Units awarded upon achievement of the specified performance criteria relating to vested Performance LTIP Units) have an expiration date.

F8 · derivative.underlying_shares: Reflects the aggregate number of Common Partnership Units currently held directly or indirectly, as noted, by the Reporting Person, some of which may have been converted from LTIP Units by the Reporting Person since the Reporting Person's most recent Form 4 or Form 5 filing. See Footnote 9 discussing the convertibility of the Common Partnership Units.

F8 · balance_after: Reflects the aggregate number of Common Partnership Units currently held directly or indirectly, as noted, by the Reporting Person, some of which may have been converted from LTIP Units by the Reporting Person since the Reporting Person's most recent Form 4 or Form 5 filing. See Footnote 9 discussing the convertibility of the Common Partnership Units.

SEC source: 0001104659-24-032502 · tm248317-4_4seq1.xml · derivative · entry 5

Stockton Richard J · CIK 0001688739 · Director · CEO and President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 524,985

Underlying: Common Stock · 349,990 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · security: Represents LTIP Units in the Subsidiary. Vested LTIP Units, upon achieving parity with the Common Partnership Units, are convertible into Common Partnership Units at the option of the Reporting Person. "Common Partnership Units" are Common Limited Partnership Units of the Subsidiary and are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F3 · derivative.exercise_price: Represents LTIP Units in the Subsidiary. Vested LTIP Units, upon achieving parity with the Common Partnership Units, are convertible into Common Partnership Units at the option of the Reporting Person. "Common Partnership Units" are Common Limited Partnership Units of the Subsidiary and are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F3 · price: Represents LTIP Units in the Subsidiary. Vested LTIP Units, upon achieving parity with the Common Partnership Units, are convertible into Common Partnership Units at the option of the Reporting Person. "Common Partnership Units" are Common Limited Partnership Units of the Subsidiary and are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F4 · derivative.exercise_date: The LTIP Units reported herein vest in three (3) equal installments over a three (3) year term from the date of the award. See Footnote 3 discussing the convertibility of vested LTIP Units.

F5 · derivative.expiration_date: Neither the Common Partnership Units nor vested LTIP Units (including any LTIP Units awarded upon achievement of the specified performance criteria relating to vested Performance LTIP Units) have an expiration date.

F3 · derivative.underlying_shares: Represents LTIP Units in the Subsidiary. Vested LTIP Units, upon achieving parity with the Common Partnership Units, are convertible into Common Partnership Units at the option of the Reporting Person. "Common Partnership Units" are Common Limited Partnership Units of the Subsidiary and are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F3 · balance_after: Represents LTIP Units in the Subsidiary. Vested LTIP Units, upon achieving parity with the Common Partnership Units, are convertible into Common Partnership Units at the option of the Reporting Person. "Common Partnership Units" are Common Limited Partnership Units of the Subsidiary and are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

SEC source: 0001104659-24-032502 · tm248317-4_4seq1.xml · derivative · entry 4

Stockton Richard J · CIK 0001688739 · Director · CEO and President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 0 shares

Expires 2023-12-31

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · security: Each performance LTIP Unit ("Performance LTIP Unit") award represents a special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"), subject to performance-based vesting criteria.

F1 · derivative.exercise_price: Each performance LTIP Unit ("Performance LTIP Unit") award represents a special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"), subject to performance-based vesting criteria.

F1 · price: Each performance LTIP Unit ("Performance LTIP Unit") award represents a special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"), subject to performance-based vesting criteria.

SEC source: 0001104659-24-032496 · tm248317-1_4seq1.xml · derivative · entry 8

Bennett Monty J · CIK 0001260654 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · Texas Yarrow 2021

Disclosed balance after: 56,745

Underlying: Common Stock · 56,745 shares

Expires not disclosed

F9 · security: Reflects the aggregate number of Common Partnership Units currently held directly or indirectly, as noted, by the Reporting Person, some of which may have been converted from LTIP Units by the Reporting Person since the Reporting Person's most recent Form 4 or Form 5 filing. See Footnote 8 discussing the convertibility of the Common Partnership Units.

F8 · derivative.exercise_price: Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"). Common Partnership Units are redeemable for cash or, at the option of the Issuer, redeemable for shares of the Issuer's common stock on a 1-for-1 basis.

F4 · shares: Represents dividend equivalent rights that accrued on a Performance LTIP Unit award pursuant to the dividend reinvestment feature of the award.

F8 · price: Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"). Common Partnership Units are redeemable for cash or, at the option of the Issuer, redeemable for shares of the Issuer's common stock on a 1-for-1 basis.

F10 · derivative.exercise_date: The Common Partnership Units reflected as beneficially owned indirectly through Ashford Financial Corporation reflect only the Reporting Person's pecuniary interest in all Common Partnership Units owned by such entity. The Reporting Person hereby disclaims interest in all other securities of the Issuer or the Subsidiary owned directly by such entity.

F6 · derivative.expiration_date: Neither the Common Partnership Units nor vested LTIP Units (including any LTIP Units awarded upon achievement of the specified performance criteria relating to vested Performance LTIP Units) have an expiration date.

F8 · derivative.underlying_shares: Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"). Common Partnership Units are redeemable for cash or, at the option of the Issuer, redeemable for shares of the Issuer's common stock on a 1-for-1 basis.

F9 · balance_after: Reflects the aggregate number of Common Partnership Units currently held directly or indirectly, as noted, by the Reporting Person, some of which may have been converted from LTIP Units by the Reporting Person since the Reporting Person's most recent Form 4 or Form 5 filing. See Footnote 8 discussing the convertibility of the Common Partnership Units.

F10 · balance_after: The Common Partnership Units reflected as beneficially owned indirectly through Ashford Financial Corporation reflect only the Reporting Person's pecuniary interest in all Common Partnership Units owned by such entity. The Reporting Person hereby disclaims interest in all other securities of the Issuer or the Subsidiary owned directly by such entity.

SEC source: 0001104659-24-032496 · tm248317-1_4seq1.xml · derivative · entry 7

Bennett Monty J · CIK 0001260654 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · Texas Yarrow 2021

Disclosed balance after: 734,979

Underlying: Common Stock · 489,986 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · security: Represents LTIP Units in the Subsidiary. Vested LTIP Units, upon achieving parity with the Common Partnership Units (as defined below) are redeemable for Common Partnership Units at the option of the Reporting Person. See Footnote 8 discussing redemption of Common Partnership Units.

F3 · derivative.exercise_price: Represents LTIP Units in the Subsidiary. Vested LTIP Units, upon achieving parity with the Common Partnership Units (as defined below) are redeemable for Common Partnership Units at the option of the Reporting Person. See Footnote 8 discussing redemption of Common Partnership Units.

F3 · price: Represents LTIP Units in the Subsidiary. Vested LTIP Units, upon achieving parity with the Common Partnership Units (as defined below) are redeemable for Common Partnership Units at the option of the Reporting Person. See Footnote 8 discussing redemption of Common Partnership Units.

F5 · derivative.exercise_date: The LTIP Units reported herein vest and are convertible in three (3) equal installments over a three (3) year term from the date of the award. See Footnote 3 discussing the convertibility of vested LTIP Units.

F6 · derivative.expiration_date: Neither the Common Partnership Units nor vested LTIP Units (including any LTIP Units awarded upon achievement of the specified performance criteria relating to vested Performance LTIP Units) have an expiration date.

F3 · derivative.underlying_shares: Represents LTIP Units in the Subsidiary. Vested LTIP Units, upon achieving parity with the Common Partnership Units (as defined below) are redeemable for Common Partnership Units at the option of the Reporting Person. See Footnote 8 discussing redemption of Common Partnership Units.

F3 · balance_after: Represents LTIP Units in the Subsidiary. Vested LTIP Units, upon achieving parity with the Common Partnership Units (as defined below) are redeemable for Common Partnership Units at the option of the Reporting Person. See Footnote 8 discussing redemption of Common Partnership Units.

F7 · balance_after: Reflects the aggregate number of LTIP Units held directly or indirectly by the Reporting Person, and includes LTIP Units comprising awards previously granted to, and reported by, the Reporting Person. Such LTIP Units have different grant and vesting dates and include those which (i) may have achieved parity with the Common Partnership Units, (ii) have not yet achieved parity with the Common Partnership Units, (iii) are currently vested or (iv) have not yet vested. Such LTIP Units have been combined herein solely for reporting purposes. See Footnote 3 discussing convertibility of LTIP Units and Footnote 8 discussing convertibility of Common Partnership Units.

SEC source: 0001104659-24-032496 · tm248317-1_4seq1.xml · derivative · entry 6

Bennett Monty J · CIK 0001260654 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · Texas Yarrow 2021

Disclosed balance after: 0

Underlying: Common Stock · 0 shares

Expires 2023-12-31

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · security: Each performance LTIP Unit ("Performance LTIP Unit") award represents a special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"), subject to performance-based vesting criteria.

F1 · derivative.exercise_price: Each performance LTIP Unit ("Performance LTIP Unit") award represents a special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"), subject to performance-based vesting criteria.

F1 · price: Each performance LTIP Unit ("Performance LTIP Unit") award represents a special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"), subject to performance-based vesting criteria.

F2 · derivative.underlying_shares: Represents the maximum number of LTIP Units that may vest pursuant to the 2021, 2022 and 2023 awards of Performance LTIP Units, which is 200% of the target number of LTIP Units. The actual number of Performance LTIP Units that may vest can range from 0% to 200% of the target number of Performance LTIP Units, based on achievement of specified performance metrics. Assuming continued service through the vesting date and minimum achievement of the specified performance metrics, the Performance LTIP Units will generally vest on December 31, 2023 (with respect to the 2021 Performance LTIP Units), December 31, 2024 (with respect to the 2022 Performance LTIP Units) and December 31, 2025 (with respect to the 2023 Performance LTIP Units). See Footnote 3 discussing the convertibility of vested LTIP Units.

SEC source: 0001104659-24-032501 · tm248317-3_4seq1.xml · derivative · entry 5

NUNNELEY MARK · CIK 0001261029 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 0 shares

Expires 2023-12-31

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · security: 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.

F1 · derivative.exercise_price: 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.

F1 · price: 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 · derivative.underlying_shares: 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, 2023 (with respect to the 2021 grant) and December 31, 2025 (with respect to the 2023 grant).

F3 · balance_after: 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, 2023 (with respect to the 2021 grant) and December 31, 2025 (with respect to the 2023 grant).

SEC source: 0001104659-24-032501 · tm248317-3_4seq1.xml · derivative · entry 4

NUNNELEY MARK · CIK 0001261029 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 130,662

Underlying: Common Stock · 65,331 shares

Expires 2023-12-31

F1 · security: 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.

F1 · derivative.exercise_price: 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.

F1 · price: 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 · derivative.underlying_shares: 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, 2023 (with respect to the 2021 grant) and December 31, 2025 (with respect to the 2023 grant).

F3 · balance_after: 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, 2023 (with respect to the 2021 grant) and December 31, 2025 (with respect to the 2023 grant).

SEC source: 0001104659-24-032501 · tm248317-3_4seq1.xml · nonDerivative · entry 2

NUNNELEY MARK · CIK 0001261029 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 434,822

F2 · price: Represents dividend equivalent rights that accrued on a Performance Stock Unit award pursuant to the dividend reinvestment feature of the award. Each dividend equivalent right is the economic equivalent of one share of the Issuer's common stock and is settled in common stock.

SEC source: 0001104659-24-032501 · tm248317-3_4seq1.xml · nonDerivative · entry 1

NUNNELEY MARK · CIK 0001261029 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 419,690

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: 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.

SEC source: 0001104659-24-032499 · tm248317-2_4seq1.xml · derivative · entry 6

Eubanks Deric S · CIK 0001608195 · CFO and Treasurer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 0 shares

Expires 2023-12-31

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · security: 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.

F1 · derivative.exercise_price: 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.

F1 · price: 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.

F5 · derivative.underlying_shares: 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, 2023 (with respect to the 2021 grant) and December 31, 2025 (with respect to the 2023 grant).

F5 · balance_after: 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, 2023 (with respect to the 2021 grant) and December 31, 2025 (with respect to the 2023 grant).

SEC source: 0001104659-24-032499 · tm248317-2_4seq1.xml · derivative · entry 5

Eubanks Deric S · CIK 0001608195 · CFO and Treasurer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 223,992

Underlying: Common Stock · 223,992 shares

Expires 2023-12-31

F1 · security: 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.

F1 · derivative.exercise_price: 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.

F1 · price: 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.

F5 · derivative.underlying_shares: 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, 2023 (with respect to the 2021 grant) and December 31, 2025 (with respect to the 2023 grant).

F5 · balance_after: 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, 2023 (with respect to the 2021 grant) and December 31, 2025 (with respect to the 2023 grant).

SEC source: 0001104659-24-032499 · tm248317-2_4seq1.xml · nonDerivative · entry 3

Eubanks Deric S · CIK 0001608195 · CFO and Treasurer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 304,656

F3 · kind: Represents shares of common stock forfeited to the Issuer to satisfy certain tax-withholding obligations of the Reporting Person arising as a result of the award of dividend equivalent rights and the vesting of Performance Stock Units, restricted stock and common stock held by the Reporting Person.

F4 · price: Represents the closing price of the common stock on February 26, 2024, the last trading day before the date of forfeiture.

SEC source: 0001104659-24-032499 · tm248317-2_4seq1.xml · nonDerivative · entry 2

Eubanks Deric S · CIK 0001608195 · CFO and Treasurer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 365,515

F2 · price: Represents dividend equivalent rights that accrued on a Performance Stock Unit award pursuant to the dividend reinvestment feature of the award. Each dividend equivalent right is the economic equivalent of one share of the Issuer's common stock and is settled in common stock.

SEC source: 0001104659-24-032499 · tm248317-2_4seq1.xml · nonDerivative · entry 1

Eubanks Deric S · CIK 0001608195 · CFO and Treasurer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 339,574

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: 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.

SEC source: 0001104659-23-109700 · tm2328634-1_4seq1.xml · nonDerivative · entry 1

Vaziri Abteen · CIK 0001716587 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · Held in 401(k) account

Disclosed balance after: 0

SEC source: 0001104659-23-104394 · tm2327019-1_4seq1.xml · nonDerivative · entry 3

Stockton Richard J · CIK 0001688739 · Director · CEO and President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 8,150

SEC source: 0001104659-23-104394 · tm2327019-1_4seq1.xml · nonDerivative · entry 2

Stockton Richard J · CIK 0001688739 · Director · CEO and President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 7,430

F1 · price: 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 $12.01 to $12.02. 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.

SEC source: 0001104659-23-098251 · tm2325472-1_4seq1.xml · nonDerivative · entry 2

Stockton Richard J · CIK 0001688739 · Director · CEO and President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 7,000

F1 · price: 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 $13.31 to $13.54. 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.

SEC source: 0001104659-23-096563 · tm2324700-2_4seq1.xml · nonDerivative · entry 3

Stockton Richard J · CIK 0001688739 · Director · CEO and President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,999

F1 · price: 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 $13.20 to $13.30. 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.

SEC source: 0001104659-23-096563 · tm2324700-2_4seq1.xml · nonDerivative · entry 2

Stockton Richard J · CIK 0001688739 · Director · CEO and President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,557

SEC source: 0001104659-23-094895 · tm2324700-1_4seq1.xml · nonDerivative · entry 2

Stockton Richard J · CIK 0001688739 · Director · CEO and President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 980

F2 · price: 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 $12.90 to $13.00. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

SEC source: 0001104659-23-094895 · tm2324700-1_4seq1.xml · nonDerivative · entry 1

Stockton Richard J · CIK 0001688739 · Director · CEO and President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 189,715

F1 · price: 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 $2.25 to $2.30. 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.

SEC source: 0001104659-23-059778 · tm2315591-3_4seq1.xml · derivative · entry 3

Evans Mary Candace · CIK 0001780661 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 61,641

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · security: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. Common Partnership Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F1 · derivative.exercise_price: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. Common Partnership Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F2 · kind: The LTIP Unit awards reported herein were issued as an annual grant under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan upon the Reporting Person's re-election to the Issuer's Board of Directors.

F2 · price: The LTIP Unit awards reported herein were issued as an annual grant under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan upon the Reporting Person's re-election to the Issuer's Board of Directors.

F1 · derivative.exercise_date: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. Common Partnership Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F3 · derivative.expiration_date: The LTIP Units have no expiration date.

F1 · derivative.underlying: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. Common Partnership Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F1 · derivative.underlying_shares: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. Common Partnership Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

SEC source: 0001104659-23-059782 · tm2315591-4_4seq1.xml · derivative · entry 1

Johnson Rebeca M · CIK 0001310931 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 29,850

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · security: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. Common Partnership Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F1 · derivative.exercise_price: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. Common Partnership Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F2 · kind: The LTIP Unit awards reported herein were issued as a grant under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan upon the Reporting Person's re-election to the Issuer's Board of Directors.

F2 · price: The LTIP Unit awards reported herein were issued as a grant under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan upon the Reporting Person's re-election to the Issuer's Board of Directors.

F1 · derivative.exercise_date: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. Common Partnership Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F3 · derivative.expiration_date: The LTIP Units have no expiration date.

F1 · derivative.underlying: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. Common Partnership Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F1 · derivative.underlying_shares: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. Common Partnership Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

SEC source: 0001104659-23-059971 · tm2315591-5_4seq1.xml · nonDerivative · entry 1

Carter Stefani D · CIK 0001591372 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 59,344

F1 · kind: The Reporting Person received the shares pursuant to a stock grant from the Issuer, under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan, in connection with the re-election of the Reporting Person to the Issuer's Board of Directors.

F1 · price: The Reporting Person received the shares pursuant to a stock grant from the Issuer, under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan, in connection with the re-election of the Reporting Person to the Issuer's Board of Directors.

SEC source: 0001104659-23-059784 · tm2315591-6_4seq1.xml · nonDerivative · entry 1

Fearn Kenneth Hopkins Jr. · CIK 0001681775 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 70,626

F1 · kind: The Reporting Person received the shares pursuant to a stock grant from the Issuer, under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan, in connection with the re-election of the Reporting Person to the Issuer's Board of Directors.

F1 · price: The Reporting Person received the shares pursuant to a stock grant from the Issuer, under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan, in connection with the re-election of the Reporting Person to the Issuer's Board of Directors.

SEC source: 0001104659-23-059775 · tm2315591-2_4seq1.xml · derivative · entry 2

Vaziri Abteen · CIK 0001716587 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 32,173

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · security: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Partnership Units.

F1 · derivative.exercise_price: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Partnership Units.

F2 · kind: The LTIP Unit awards reported herein were issued as an annual grant under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan upon the Reporting Person's re-election to the Issuer's Board of Directors.

F2 · price: The LTIP Unit awards reported herein were issued as an annual grant under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan upon the Reporting Person's re-election to the Issuer's Board of Directors.

F1 · derivative.exercise_date: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Partnership Units.

F3 · derivative.expiration_date: Neither the Common Partnership Units nor vested LTIP Units have an expiration date.

F1 · derivative.underlying: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Partnership Units.

F1 · derivative.underlying_shares: Fully vested special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Partnership Units"), are convertible into Common Partnership Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Partnership Units.

SEC source: 0001104659-23-059772 · tm2315591-1_4seq1.xml · nonDerivative · entry 1

Rinaldi Matthew D · CIK 0001590869 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 91,764

F1 · kind: The Reporting Person received the shares pursuant to a stock grant from the Issuer, under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan, in connection with the re-election of the Reporting Person to the Issuer's Board of Directors.

F1 · price: The Reporting Person received the shares pursuant to a stock grant from the Issuer, under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan, in connection with the re-election of the Reporting Person to the Issuer's Board of Directors.

SEC source: 0001104659-23-033917 · tm239625-6_4seq1.xml · nonDerivative · entry 1

NUNNELEY MARK · CIK 0001261029 · Chief Accounting Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 289,028

F1 · kind: Represents shares of common stock forfeited to the Issuer to satisfy tax-withholding obligations arising as a result of the vesting of restricted stock held by the Reporting Person.

F2 · price: Represents the closing price of the common stock on March 14, 2023, the last trading day before the date of forfeiture.

SEC source: 0001104659-23-033905 · tm239625-5_4seq1.xml · nonDerivative · entry 1

Eubanks Deric S · CIK 0001608195 · CFO and Treasurer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 115,582

F1 · kind: Represents shares of common stock forfeited to the Issuer to satisfy tax-withholding obligations arising as a result of the vesting of restricted stock held by the Reporting Person.

F2 · price: Represents the closing price of the common stock on March 14, 2023, the last trading day before the date of forfeiture.

SEC source: 0001104659-23-032836 · tm239625-4_4seq1.xml · nonDerivative · entry 1

Stockton Richard J · CIK 0001688739 · CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 146,715

F1 · kind: Represents shares of common stock forfeited to the Issuer to satisfy certain tax-withholding obligations of the Reporting Person arising as a result of the vesting of restricted stock held by the Reporting Person.

F2 · price: Represents the closing price of the common stock on March 10, 2023, the last trading day before the date of forfeiture.

SEC source: 0001104659-23-032830 · tm239625-1_4seq1.xml · nonDerivative · entry 1

Bennett Monty J · CIK 0001260654 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 14,152

F1 · kind: Represents shares of common stock forfeited to the Issuer to satisfy certain tax-withholding obligations of the Reporting Person arising as a result of the vesting of restricted stock held by the Reporting Person.

F2 · price: Represents the closing price of the common stock on March 10, 2023, the last trading day before the date of forfeiture.

SEC source: 0001104659-23-032833 · tm239625-3_4seq1.xml · nonDerivative · entry 1

NUNNELEY MARK · CIK 0001261029 · Chief Accounting Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 294,331

F1 · kind: Represents shares of common stock forfeited to the Issuer to satisfy certain tax-withholding obligations of the Reporting Person arising as a result of the vesting of restricted stock held by the Reporting Person.

F2 · price: Represents the closing price of the common stock on March 10, 2023, the last trading day before the date of forfeiture.

SEC source: 0001104659-23-032832 · tm239625-2_4seq1.xml · nonDerivative · entry 1

Eubanks Deric S · CIK 0001608195 · CFO and Treasurer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 130,273

F1 · kind: Represents shares of common stock forfeited to the Issuer to satisfy certain tax-withholding obligations of the Reporting Person arising as a result of the vesting of restricted stock held by the Reporting Person.

F2 · price: Represents the closing price of the common stock on March 10, 2023, the last trading day before the date of forfeiture.

SEC source: 0001104659-23-029630 · tm238202-6_4seq1.xml · derivative · entry 5

Stockton Richard J · CIK 0001688739 · CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 176,295

Underlying: Common Stock · 176,295 shares

Expires 2025-12-31

F6 · security: 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.

F6 · derivative.exercise_price: 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.

F7 · kind: The Reporting Person received the Performance Stock Units pursuant to a grant from the Issuer under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan.

F8 · shares: 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.

F6 · price: 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.

F8 · derivative.underlying_shares: 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.

F8 · balance_after: 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.

SEC source: 0001104659-23-029615 · tm238202-2_4seq1.xml · derivative · entry 4

Bennett Monty J · CIK 0001260654 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 352,590

Underlying: Common Stock · 352,590 shares

Expires 2025-12-31

F1 · security: Each performance LTIP Unit ("Performance LTIP Unit") award represents a special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"), subject to performance-based vesting criteria.

F1 · derivative.exercise_price: Each performance LTIP Unit ("Performance LTIP Unit") award represents a special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"), subject to performance-based vesting criteria.

F2 · kind: The Reporting Person received the Performance LTIP Unit award reported herein under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan.

F3 · shares: Represents the maximum number of LTIP Units that may vest pursuant to the 2021, 2022 and 2023 awards of Performance LTIP Units, which is 200% of the target number of LTIP Units. The actual number of Performance LTIP Units that may vest can range from 0% to 200% of the target number of Performance LTIP Units, based on achievement of specified performance metrics. Assuming continued service through the vesting date and minimum achievement of the specified performance metrics, the Performance LTIP Units will generally vest on December 31, 2023 (with respect to the 2021 Performance LTIP Units), December 31, 2024 (with respect to the 2022 Performance LTIP Units) and December 31, 2025 (with respect to the 2023 Performance LTIP Units). See Footnote 4 discussing the convertibility of vested LTIP Units.

F1 · price: Each performance LTIP Unit ("Performance LTIP Unit") award represents a special long-term incentive partnership units ("LTIP Units") in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"), subject to performance-based vesting criteria.

F3 · derivative.underlying_shares: Represents the maximum number of LTIP Units that may vest pursuant to the 2021, 2022 and 2023 awards of Performance LTIP Units, which is 200% of the target number of LTIP Units. The actual number of Performance LTIP Units that may vest can range from 0% to 200% of the target number of Performance LTIP Units, based on achievement of specified performance metrics. Assuming continued service through the vesting date and minimum achievement of the specified performance metrics, the Performance LTIP Units will generally vest on December 31, 2023 (with respect to the 2021 Performance LTIP Units), December 31, 2024 (with respect to the 2022 Performance LTIP Units) and December 31, 2025 (with respect to the 2023 Performance LTIP Units). See Footnote 4 discussing the convertibility of vested LTIP Units.

F3 · balance_after: Represents the maximum number of LTIP Units that may vest pursuant to the 2021, 2022 and 2023 awards of Performance LTIP Units, which is 200% of the target number of LTIP Units. The actual number of Performance LTIP Units that may vest can range from 0% to 200% of the target number of Performance LTIP Units, based on achievement of specified performance metrics. Assuming continued service through the vesting date and minimum achievement of the specified performance metrics, the Performance LTIP Units will generally vest on December 31, 2023 (with respect to the 2021 Performance LTIP Units), December 31, 2024 (with respect to the 2022 Performance LTIP Units) and December 31, 2025 (with respect to the 2023 Performance LTIP Units). See Footnote 4 discussing the convertibility of vested LTIP Units.

SEC source: 0001104659-23-029623 · tm238202-4_4seq1.xml · derivative · entry 5

NUNNELEY MARK · CIK 0001261029 · Chief Accounting Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 51,097

Underlying: Common Stock · 51,097 shares

Expires 2025-12-31

F1 · security: 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.

F1 · derivative.exercise_price: 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.

F5 · kind: The Reporting Person received the Performance Stock Units pursuant to an award granted by the Issuer under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan.

F2 · shares: Eepresents 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, 2023 (with respect to the 2021 grant) and December 31, 2025 (with respect to the 2023 grant).

F1 · price: 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.

F2 · derivative.underlying_shares: Eepresents 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, 2023 (with respect to the 2021 grant) and December 31, 2025 (with respect to the 2023 grant).

F2 · balance_after: Eepresents 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, 2023 (with respect to the 2021 grant) and December 31, 2025 (with respect to the 2023 grant).

SEC source: 0001104659-23-029624 · tm238202-5_4seq1.xml · derivative · entry 5

Eubanks Deric S · CIK 0001608195 · CFO and Treasurer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 88,747

Underlying: Common Stock · 88,747 shares

Expires 2025-12-31

F1 · security: 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.

F1 · derivative.exercise_price: 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.

F5 · kind: The Reporting Person received the Performance Stock Units pursuant to a grant from the Issuer under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan.

F2 · shares: 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, 2023 (with respect to the 2021 grant) and December 31, 2025 (with respect to the 2023 grant).

F1 · price: 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.

F2 · derivative.underlying_shares: 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, 2023 (with respect to the 2021 grant) and December 31, 2025 (with respect to the 2023 grant).

F2 · balance_after: 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, 2023 (with respect to the 2021 grant) and December 31, 2025 (with respect to the 2023 grant).

SEC source: 0001104659-23-029618 · tm238202-3_4seq1.xml · derivative · entry 2

Rose Alex · CIK 0001870678 · Exec. VP, GC and Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 67,233

Underlying: Common Stock · 67,233 shares

Expires 2025-12-31

F1 · security: 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.

F1 · derivative.exercise_price: 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 · kind: The Reporting Person received the Performance Stock Units pursuant to a grant from the Issuer under the Issuer's Second Amended and Restated 2013 Equity Incentive Plan.

F2 · shares: 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, 2024 (with respect to the 2022 grant) and December 31, 2025 (with respect to the 2023 grant).

F1 · price: 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.

F2 · derivative.underlying_shares: 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, 2024 (with respect to the 2022 grant) and December 31, 2025 (with respect to the 2023 grant).

F2 · balance_after: 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, 2024 (with respect to the 2022 grant) and December 31, 2025 (with respect to the 2023 grant).

SEC source: 0001104659-23-027350 · tm238202-1_4seq1.xml · nonDerivative · entry 8

Bennett Monty J · CIK 0001260654 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Dartmore, LP

Disclosed balance after: 0

F2 · price: The price reported in Column 4 is a weighted average price, rounded to the nearest cent. These shares were sold in multiple transactions at prices ranging from $4.75 to $4.90. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

SEC source: 0001104659-23-027350 · tm238202-1_4seq1.xml · nonDerivative · entry 6

Bennett Monty J · CIK 0001260654 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Reserve, LP IV

Disclosed balance after: 0

F2 · price: The price reported in Column 4 is a weighted average price, rounded to the nearest cent. These shares were sold in multiple transactions at prices ranging from $4.75 to $4.90. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

SEC source: 0001104659-23-027350 · tm238202-1_4seq1.xml · nonDerivative · entry 4

Bennett Monty J · CIK 0001260654 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By MJB Investments, LP

Disclosed balance after: 0

F2 · price: The price reported in Column 4 is a weighted average price, rounded to the nearest cent. These shares were sold in multiple transactions at prices ranging from $4.75 to $4.90. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

SEC source: 0001104659-23-027350 · tm238202-1_4seq1.xml · nonDerivative · entry 2

Bennett Monty J · CIK 0001260654 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 23,334

F2 · price: The price reported in Column 4 is a weighted average price, rounded to the nearest cent. These shares were sold in multiple transactions at prices ranging from $4.75 to $4.90. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

SEC source: 0001104659-23-027350 · tm238202-1_4seq1.xml · nonDerivative · entry 7

Bennett Monty J · CIK 0001260654 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Dartmore, LP

Disclosed balance after: 67,458

F1 · price: The price reported in Column 4 is a weighted average price, rounded to the nearest cent. These shares were sold in multiple transactions at prices ranging from $4.82 to $4.97. 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 sold at each separate price within the range set forth in this footnote.

SEC source: 0001104659-23-027350 · tm238202-1_4seq1.xml · nonDerivative · entry 5

Bennett Monty J · CIK 0001260654 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Reserve, LP IV

Disclosed balance after: 13,925

F1 · price: The price reported in Column 4 is a weighted average price, rounded to the nearest cent. These shares were sold in multiple transactions at prices ranging from $4.82 to $4.97. 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 sold at each separate price within the range set forth in this footnote.