PEB

SEC source: 0001474098-20-000111 · wf-form4_159985508235889.xml · nonDerivative · entry 5

BORTZ JON E · CIK 0001229310 · Director · Chairman, President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 13,672

F3 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $20.97 to $21.10, inclusive. 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 purchased at each separate price within the ranges set forth in this footnote to this Form 4.

SEC source: 0001474098-20-000111 · wf-form4_159985508235889.xml · nonDerivative · entry 4

BORTZ JON E · CIK 0001229310 · Director · Chairman, President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 413

F2 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $21.06 to $21.10, inclusive. 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 purchased at each separate price within the ranges set forth in this footnote to this Form 4.

SEC source: 0001474098-20-000111 · wf-form4_159985508235889.xml · nonDerivative · entry 3

BORTZ JON E · CIK 0001229310 · Director · Chairman, President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 575

SEC source: 0001474098-20-000111 · wf-form4_159985508235889.xml · nonDerivative · entry 2

BORTZ JON E · CIK 0001229310 · Director · Chairman, President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 24,000

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $20.544 to $20.790, inclusive. 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 purchased at each separate price within the ranges set forth in this footnote to this Form 4.

SEC source: 0001474098-20-000111 · wf-form4_159985508235889.xml · nonDerivative · entry 1

BORTZ JON E · CIK 0001229310 · Director · Chairman, President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,000

SEC source: 0001474098-20-000096 · wf-form4_159562234825003.xml · derivative · entry 3

BORTZ JON E · CIK 0001229310 · Director · Chairman, President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 109,240 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.

F1 · derivative.exercise_price: 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.

F3 · derivative.exercise_price: 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.

F1 · shares: 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.

F3 · price: 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.

F3 · derivative.exercise_date: 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.

F3 · derivative.expiration_date: 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.

F1 · derivative.underlying_shares: 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.

SEC source: 0001474098-20-000096 · wf-form4_159562234825003.xml · nonDerivative · entry 1

BORTZ JON E · CIK 0001229310 · Director · Chairman, President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 915,795

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: 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.

SEC source: 0001474098-20-000059 · wf-form4_158508578541207.xml · derivative · entry 1

Martz Raymond D · CIK 0001326594 · Exec VP, CFO, Treasurer, Secre

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 58,821

Underlying: Common Shares · 138,606 shares

Expires not disclosed

F1 · derivative.exercise_price: These 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, were awarded by the Board of Trustees of the Issuer (the "Board") to the reporting person on February 12, 2020. On March 22, 2020, the Board terminated the award and such LTIP Class B Units were forfeited. The LTIP Class B Units had no expiration date and were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

F1 · derivative.exercise_date: These 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, were awarded by the Board of Trustees of the Issuer (the "Board") to the reporting person on February 12, 2020. On March 22, 2020, the Board terminated the award and such LTIP Class B Units were forfeited. The LTIP Class B Units had no expiration date and were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

F1 · derivative.expiration_date: These 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, were awarded by the Board of Trustees of the Issuer (the "Board") to the reporting person on February 12, 2020. On March 22, 2020, the Board terminated the award and such LTIP Class B Units were forfeited. The LTIP Class B Units had no expiration date and were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

SEC source: 0001474098-20-000060 · wf-form4_158508580604034.xml · derivative · entry 1

Fisher Thomas Charles · CIK 0001480818 · EVP, Chief Investment Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 58,821

Underlying: Common Shares · 138,606 shares

Expires not disclosed

F1 · derivative.exercise_price: These 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, were awarded by the Board ofTrustees of the Issuer (the "Board") to the reporting person on February 12, 2020. On March 22, 2020, the Board terminated the award and such LTIP Class B Units were forfeited. The LTIP Class B Units had no expiration date and were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

F1 · derivative.exercise_date: These 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, were awarded by the Board ofTrustees of the Issuer (the "Board") to the reporting person on February 12, 2020. On March 22, 2020, the Board terminated the award and such LTIP Class B Units were forfeited. The LTIP Class B Units had no expiration date and were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

F1 · derivative.expiration_date: These 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, were awarded by the Board ofTrustees of the Issuer (the "Board") to the reporting person on February 12, 2020. On March 22, 2020, the Board terminated the award and such LTIP Class B Units were forfeited. The LTIP Class B Units had no expiration date and were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

SEC source: 0001474098-20-000058 · wf-form4_158508576237860.xml · derivative · entry 1

BORTZ JON E · CIK 0001229310 · Director · Chairman, President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 109,240

Underlying: Common Shares · 138,606 shares

Expires not disclosed

F1 · derivative.exercise_price: These 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, were awarded by the Board of Trustees of the Issuer (the "Board") to the reporting person on February 12, 2020. On March 22, 2020, the Board terminated the award and such LTIP Class B Units were forfeited. The LTIP Class B Units had no expiration date and were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

F1 · derivative.exercise_date: These 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, were awarded by the Board of Trustees of the Issuer (the "Board") to the reporting person on February 12, 2020. On March 22, 2020, the Board terminated the award and such LTIP Class B Units were forfeited. The LTIP Class B Units had no expiration date and were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

F1 · derivative.expiration_date: These 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, were awarded by the Board of Trustees of the Issuer (the "Board") to the reporting person on February 12, 2020. On March 22, 2020, the Board terminated the award and such LTIP Class B Units were forfeited. The LTIP Class B Units had no expiration date and were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

SEC source: 0001474098-20-000029 · wf-form4_158171968372622.xml · derivative · entry 5

Fisher Thomas Charles · CIK 0001480818 · EVP, Chief Investment Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 197,427

Underlying: Common Shares · 138,606 shares

Expires not disclosed

F5 · derivative.exercise_price: 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 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. 34,652, 34,652, 34,651, and 34,651 LTIP Class B Units will vest, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2023, January 1, 2024, January 1, 2025, and January 1, 2026, respectfully. The LTIP Class B Units have no expiration date. The LTIP Class B Units were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

F5 · price: 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 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. 34,652, 34,652, 34,651, and 34,651 LTIP Class B Units will vest, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2023, January 1, 2024, January 1, 2025, and January 1, 2026, respectfully. The LTIP Class B Units have no expiration date. The LTIP Class B Units were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

F5 · derivative.exercise_date: 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 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. 34,652, 34,652, 34,651, and 34,651 LTIP Class B Units will vest, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2023, January 1, 2024, January 1, 2025, and January 1, 2026, respectfully. The LTIP Class B Units have no expiration date. The LTIP Class B Units were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

F5 · derivative.expiration_date: 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 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. 34,652, 34,652, 34,651, and 34,651 LTIP Class B Units will vest, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2023, January 1, 2024, January 1, 2025, and January 1, 2026, respectfully. The LTIP Class B Units have no expiration date. The LTIP Class B Units were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

SEC source: 0001474098-20-000029 · wf-form4_158171968372622.xml · nonDerivative · entry 4

Fisher Thomas Charles · CIK 0001480818 · EVP, Chief Investment Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 163,168

F4 · shares: Represents Common Shares sold to the Issuer as payment of tax withholding due upon vesting of 7,028 Common Shares.

SEC source: 0001474098-20-000029 · wf-form4_158171968372622.xml · nonDerivative · entry 3

Fisher Thomas Charles · CIK 0001480818 · EVP, Chief Investment Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 166,563

F3 · price: The Common Shares were issued to the reporting person upon certification by the Compensation Committee of the Board of the extent to which the performance objectives of the performance-based equity incentive award made in February 2017 to the reporting person had been achieved. The reporting person earned 2.9% of the target number of Common Shares issuable pursuant to the award. For more information on the performance-based equity incentive award, including the performance objectives and measurement period, see the Issuer's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on April 27, 2018.

SEC source: 0001474098-20-000029 · wf-form4_158171968372622.xml · nonDerivative · entry 2

Fisher Thomas Charles · CIK 0001480818 · EVP, Chief Investment Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 166,106

F2 · price: The Common Shares were issued to the reporting person upon certification by the Compensation Committee of the Board of the extent to which the performance objectives of the performance-based equity incentive award made in December 2013 to the reporting person had been achieved for the measurement period ended December 31, 2019. For that measurement period, the reporting person earned 11.17% of the target number of Common Shares issuable pursuant to the award. For more information on the performance-based equity incentive award, including the performance objectives and measurement period, see the Issuer's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on March 28, 2014.

SEC source: 0001474098-20-000029 · wf-form4_158171968372622.xml · nonDerivative · entry 1

Fisher Thomas Charles · CIK 0001480818 · EVP, Chief Investment Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 159,535

F1 · shares: All of these shares are restricted common shares that were granted to the reporting person by the Issuer's Board of Trustees (the "Board"). 6,251, 6,251, and 6,250 of these shares shall become vested and nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2021, January 1, 2022, and January 1, 2023, respectively.

SEC source: 0001474098-20-000030 · wf-form4_158171970486968.xml · derivative · entry 6

BORTZ JON E · CIK 0001229310 · Director · Chairman, President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 247,846

Underlying: Common Shares · 138,606 shares

Expires not disclosed

F6 · derivative.exercise_price: 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 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. 34,652, 34,652, 34,651, and 34,651 LTIP Class B Units will vest, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2023, January 1, 2024, January 1, 2025, and January 1, 2026, respectfully. The LTIP Class B Units have no expiration date. The LTIP Class B Units were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

F6 · price: 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 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. 34,652, 34,652, 34,651, and 34,651 LTIP Class B Units will vest, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2023, January 1, 2024, January 1, 2025, and January 1, 2026, respectfully. The LTIP Class B Units have no expiration date. The LTIP Class B Units were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

F6 · derivative.exercise_date: 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 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. 34,652, 34,652, 34,651, and 34,651 LTIP Class B Units will vest, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2023, January 1, 2024, January 1, 2025, and January 1, 2026, respectfully. The LTIP Class B Units have no expiration date. The LTIP Class B Units were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

F6 · derivative.expiration_date: 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 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. 34,652, 34,652, 34,651, and 34,651 LTIP Class B Units will vest, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2023, January 1, 2024, January 1, 2025, and January 1, 2026, respectfully. The LTIP Class B Units have no expiration date. The LTIP Class B Units were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

SEC source: 0001474098-20-000030 · wf-form4_158171970486968.xml · nonDerivative · entry 4

BORTZ JON E · CIK 0001229310 · Director · Chairman, President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 806,555

F4 · shares: Represents Common Shares sold to the Issuer as payment of tax withholding due upon vesting of 13,260 Common Shares.

SEC source: 0001474098-20-000030 · wf-form4_158171970486968.xml · nonDerivative · entry 3

BORTZ JON E · CIK 0001229310 · Director · Chairman, President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 812,961

F3 · price: The Common Shares were issued to the reporting person upon certification by the Compensation Committee of the Board of the extent to which the performance objectives of the performance-based equity incentive award made in February 2017 to the reporting person had been achieved. The reporting person earned 2.9% of the target number of Common Shares issuable pursuant to the award. For more information on the performance-based equity incentive award, including the performance objectives and measurement period, see the Issuer's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on April 27, 2018.

SEC source: 0001474098-20-000030 · wf-form4_158171970486968.xml · nonDerivative · entry 2

BORTZ JON E · CIK 0001229310 · Director · Chairman, President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 811,904

F2 · price: The Common Shares were issued to the reporting person upon certification by the Compensation Committee of the Board of the extent to which the performance objectives of the performance-based equity incentive award made in December 2013 to the reporting person had been achieved for the measurement period ended December 31, 2019. For that measurement period, the reporting person earned 11.17% of the target number of Common Shares issuable pursuant to the award. For more information on the performance-based equity incentive award, including the performance objectives and measurement period, see the Issuer's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on March 28, 2014.

SEC source: 0001474098-20-000030 · wf-form4_158171970486968.xml · nonDerivative · entry 1

BORTZ JON E · CIK 0001229310 · Director · Chairman, President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 799,701

F1 · shares: All of these shares are restricted common shares that were granted to the reporting person by the Issuer's Board of Trustees (the "Board"). 15,220, 15,219, and 15,219 of these shares shall become vested and nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2021, January 1, 2022, and January 1, 2023, respectively.

SEC source: 0001474098-20-000028 · wf-form4_158171966246272.xml · derivative · entry 5

Martz Raymond D · CIK 0001326594 · Exec VP, CFO, Treasurer, Secre

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 197,427

Underlying: Common Shares · 138,606 shares

Expires not disclosed

F5 · derivative.exercise_price: 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 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. 34,652, 34,652, 34,651, and 34,651 LTIP Class B Units will vest, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2023, January 1, 2024, January 1, 2025, and January 1, 2026, respectfully. The LTIP Class B Units have no expiration date. The LTIP Class B Units were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

F5 · price: 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 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. 34,652, 34,652, 34,651, and 34,651 LTIP Class B Units will vest, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2023, January 1, 2024, January 1, 2025, and January 1, 2026, respectfully. The LTIP Class B Units have no expiration date. The LTIP Class B Units were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

F5 · derivative.exercise_date: 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 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. 34,652, 34,652, 34,651, and 34,651 LTIP Class B Units will vest, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2023, January 1, 2024, January 1, 2025, and January 1, 2026, respectfully. The LTIP Class B Units have no expiration date. The LTIP Class B Units were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

F5 · derivative.expiration_date: 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 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. 34,652, 34,652, 34,651, and 34,651 LTIP Class B Units will vest, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2023, January 1, 2024, January 1, 2025, and January 1, 2026, respectfully. The LTIP Class B Units have no expiration date. The LTIP Class B Units were issued pursuant to the Issuer's 2009 Equity Incentive Plan as amended and restated.

SEC source: 0001474098-20-000028 · wf-form4_158171966246272.xml · nonDerivative · entry 4

Martz Raymond D · CIK 0001326594 · Exec VP, CFO, Treasurer, Secre

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 235,730

F4 · shares: Represents Common Shares sold to the Issuer as payment of tax withholding due upon vesting of 7,028 Common Shares.

SEC source: 0001474098-20-000028 · wf-form4_158171966246272.xml · nonDerivative · entry 3

Martz Raymond D · CIK 0001326594 · Exec VP, CFO, Treasurer, Secre

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 239,129

F3 · price: The Common Shares were issued to the reporting person upon certification by the Compensation Committee of the Board of the extent to which the performance objectives of the performance-based equity incentive award made in February 2017 to the reporting person had been achieved. The reporting person earned 2.9% of the target number of Common Shares issuable pursuant to the award. For more information on the performance-based equity incentive award, including the performance objectives and measurement period, see the Issuer's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on April 27, 2018.

SEC source: 0001474098-20-000028 · wf-form4_158171966246272.xml · nonDerivative · entry 2

Martz Raymond D · CIK 0001326594 · Exec VP, CFO, Treasurer, Secre

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 238,672

F2 · price: The Common Shares were issued to the reporting person upon certification by the Compensation Committee of the Board of the extent to which the performance objectives of the performance-based equity incentive award made in December 2013 to the reporting person had been achieved for the measurement period ended December 31, 2019. For that measurement period, the reporting person earned 11.17% of the target number of Common Shares issuable pursuant to the award. For more information on the performance-based equity incentive award, including the performance objectives and measurement period, see the Issuer's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on March 28, 2014.

SEC source: 0001474098-20-000028 · wf-form4_158171966246272.xml · nonDerivative · entry 1

Martz Raymond D · CIK 0001326594 · Exec VP, CFO, Treasurer, Secre

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 232,101

F1 · shares: All of these shares are restricted common shares that were granted to the reporting person by the Issuer's Board of Trustees (the "Board"). 6,251, 6,251, and 6,250 of these shares shall become vested and nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2021, January 1, 2022, and January 1, 2023, respectively.

SEC source: 0001474098-20-000015 · wf-form4_157800408708642.xml · nonDerivative · entry 1

WEBB EARL E · CIK 0001042560 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 21,544

F1 · price: Payment of 50 percent of annual retainer fee for serving on the Board of Trustees of Pebblebrook Hotel Trust in 2019. Per-share value is the average of the closing prices for the Company's common shares on the New York Stock Exchange for the ten trading days preceding the date of payment.

SEC source: 0001474098-20-000021 · wf-form4_157800515569438.xml · nonDerivative · entry 1

Fisher Thomas Charles · CIK 0001480818 · EVP, Chief Investment Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 140,783

F1 · shares: Represents Common Shares sold to the Issuer as payment of tax upon vesting of 11,799 Common Shares.

SEC source: 0001474098-20-000016 · wf-form4_157800410746412.xml · nonDerivative · entry 1

Jackson Ron E. · CIK 0001478013 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 42,280

F1 · price: Payment of 50 percent of annual retainer fee for serving on the Board of Trustees of Pebblebrook Hotel Trust in 2019. Per-share value is the average of the closing prices for the Company's common shares on the New York Stock Exchange for the ten trading days preceding the date of payment.

SEC source: 0001474098-20-000019 · wf-form4_157800511524959.xml · nonDerivative · entry 1

Martz Raymond D · CIK 0001326594 · Exec VP, CFO, Treasurer, Secre

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 213,349

F1 · shares: Represents Common Shares sold to the Issuer as payment of tax upon vesting of 11,799 Common Shares.

SEC source: 0001474098-20-000020 · wf-form4_157800513553519.xml · nonDerivative · entry 1

BORTZ JON E · CIK 0001229310 · Director · Chairman, President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 754,043

F1 · shares: Represents Common Shares sold to the Issuer as payment of tax upon vesting of 27,641 Common Shares.

SEC source: 0001474098-20-000014 · wf-form4_157800406547758.xml · nonDerivative · entry 1

SCHALL MICHAEL J · CIK 0001198212 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 42,879

F1 · price: Payment of 100 percent of annual retainer fee for serving on the Board of Trustees of Pebblebrook Hotel Trust in 2019. Per-share value is the average of the closing prices for the Company's common shares on the New York Stock Exchange for the ten trading days preceding the date of payment.

F2 · balance_after: The reporting person disclaims beneficial ownership with respect to one-half of all but 500 of these shares.

SEC source: 0001474098-20-000018 · wf-form4_157800415866192.xml · nonDerivative · entry 1

Miller Phillip M. · CIK 0001520301 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 18,265

F1 · price: Payment of 50 percent of annual retainer fee for serving on the Board of Trustees of Pebblebrook Hotel Trust in 2019. Per-share value is the average of the closing prices for the Company's common shares on the New York Stock Exchange for the ten trading days preceding the date of payment.

SEC source: 0001474098-20-000017 · wf-form4_157800413247860.xml · nonDerivative · entry 1

Simi Bonny W · CIK 0001703083 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,465

F1 · price: Payment of 50 percent of annual retainer fee for serving on the Board of Trustees of Pebblebrook Hotel Trust in 2019 (pro rated from date of joining the Board). Per-share value is the average of the closing prices for the Company's common shares on the New York Stock Exchange for the ten trading days preceding the date of payment.

SEC source: 0001474098-20-000013 · wf-form4_157800404479253.xml · nonDerivative · entry 1

Donnell Cydney · CIK 0001299104 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 39,103

F1 · price: Payment of 100 percent of annual retainer fee for serving on the Board of Trustees of Pebblebrook Hotel Trust in 2019. Per-share value is the average of the closing prices for the Company's common shares on the New York Stock Exchange for the ten trading days preceding the date of payment.

SEC source: 0001209191-19-026414 · doc4.xml · nonDerivative · entry 1

Simi Bonny W · CIK 0001703083 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,500

F1 · price: Represents an initial grant of 2,500 restricted common shares. 834, 833 and 833 of the restricted common shares shall become vested and nonforfeitable, subject to the reporting person's continued service as a member of the board of the Issuer, on April 26, 2020, April 26, 2021 and April 26, 2022, respectively.

SEC source: 0001209191-19-010796 · doc4.xml · nonDerivative · entry 4

Fisher Thomas Charles · CIK 0001480818 · EVP, Chief Investment Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 146,734

F4 · shares: Represents Common Shares sold to the Issuer as payment of tax withholding due upon vesting of 41,171 Common Shares.

SEC source: 0001209191-19-010796 · doc4.xml · nonDerivative · entry 3

Fisher Thomas Charles · CIK 0001480818 · EVP, Chief Investment Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 166,621

F3 · price: The Common Shares were issued to the reporting person upon certification by the Compensation Committee of the Board of Trustees of the Issuer of the extent to which the performance objectives of the performance-based equity incentive award made in February 2016 to the reporting person had been achieved. The reporting person earned 170.2% of the target number of Common Shares issuable pursuant to the award. For more information on the performance-based equity incentive award, including the performance objectives and measurement period, see the Issuer's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on April 28, 2017.

SEC source: 0001209191-19-010796 · doc4.xml · nonDerivative · entry 2

Fisher Thomas Charles · CIK 0001480818 · EVP, Chief Investment Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 133,810

F2 · price: The Common Shares were issued to the reporting person upon certification by the Compensation Committee of the Board of Trustees of the Issuer of the extent to which the performance objectives of the performance-based equity incentive award made in December 2013 to the reporting person had been achieved for the measurement period ended December 31, 2018. For that measurement period, the reporting person earned 14.21% of the target number of Common Shares issuable pursuant to the award. For more information on the performance-based equity incentive award, including the performance objectives and measurement period, see the Issuer's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on March 28, 2014.

SEC source: 0001209191-19-010796 · doc4.xml · nonDerivative · entry 1

Fisher Thomas Charles · CIK 0001480818 · EVP, Chief Investment Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 125,450

F1 · shares: All of these shares are restricted common shares that were granted to the reporting person by the Issuer's Board of Trustees (the "Board"). 4,800, 4,799, and 4,799 of these shares shall become vested and nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2020, January 1, 2021, and January 1, 2022, respectively.

SEC source: 0001209191-19-010794 · doc4.xml · nonDerivative · entry 4

BORTZ JON E · CIK 0001229310 · Director · Chairman, President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 767,645

F4 · shares: Represents Common Shares sold to the Issuer as payment of tax withholding due upon vesting of 92,087 Common Shares.

SEC source: 0001209191-19-010794 · doc4.xml · nonDerivative · entry 3

BORTZ JON E · CIK 0001229310 · Director · Chairman, President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 812,125

F3 · price: The Common Shares were issued to the reporting person upon certification by the Compensation Committee of the Board of Trustees of the Issuer of the extent to which the performance objectives of the performance-based equity incentive award made in February 2016 to the reporting person had been achieved. The reporting person earned 170.2% of the target number of Common Shares issuable pursuant to the award. For more information on the performance-based equity incentive award, including the performance objectives and measurement period, see the Issuer's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on April 28, 2017.

SEC source: 0001209191-19-010794 · doc4.xml · nonDerivative · entry 2

BORTZ JON E · CIK 0001229310 · Director · Chairman, President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 735,564

F2 · price: The Common Shares were issued to the reporting person upon certification by the Compensation Committee of the Board of Trustees of the Issuer of the extent to which the performance objectives of the performance-based equity incentive award made in December 2013 to the reporting person had been achieved for the measurement period ended December 31, 2018. For that measurement period, the reporting person earned 14.21% of the target number of Common Shares issuable pursuant to the award. For more information on the performance-based equity incentive award, including the performance objectives and measurement period, see the Issuer's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on March 28, 2014.

SEC source: 0001209191-19-010794 · doc4.xml · nonDerivative · entry 1

BORTZ JON E · CIK 0001229310 · Director · Chairman, President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 720,038

F1 · shares: All of these shares are restricted common shares that were granted to the reporting person by the Issuer's Board of Trustees (the "Board"). 11,685, 11,685, and 11,685 of these shares shall become vested and nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2020, January 1, 2021, and January 1, 2022, respectively.

SEC source: 0001209191-19-010795 · doc4.xml · nonDerivative · entry 4

Martz Raymond D · CIK 0001326594 · Exec VP, CFO, Treasurer, Secre

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 219,306

F4 · shares: Represents Common Shares sold to the Issuer as payment of tax withholding due upon vesting of 41,171 Common Shares.

SEC source: 0001209191-19-010795 · doc4.xml · nonDerivative · entry 3

Martz Raymond D · CIK 0001326594 · Exec VP, CFO, Treasurer, Secre

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 239,193

F3 · price: The Common Shares were issued to the reporting person upon certification by the Compensation Committee of the Board of Trustees of the Issuer of the extent to which the performance objectives of the performance-based equity incentive award made in February 2016 to the reporting person had been achieved. The reporting person earned 170.2% of the target number of Common Shares issuable pursuant to the award. For more information on the performance-based equity incentive award, including the performance objectives and measurement period, see the Issuer's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on April 28, 2017.

SEC source: 0001209191-19-010795 · doc4.xml · nonDerivative · entry 2

Martz Raymond D · CIK 0001326594 · Exec VP, CFO, Treasurer, Secre

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 206,382

F2 · price: The Common Shares were issued to the reporting person upon certification by the Compensation Committee of the Board of Trustees of the Issuer of the extent to which the performance objectives of the performance-based equity incentive award made in December 2013 to the reporting person had been achieved for the measurement period ended December 31, 2018. For that measurement period, the reporting person earned 14.21% of the target number of Common Shares issuable pursuant to the award. For more information on the performance-based equity incentive award, including the performance objectives and measurement period, see the Issuer's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on March 28, 2014.

SEC source: 0001209191-19-010795 · doc4.xml · nonDerivative · entry 1

Martz Raymond D · CIK 0001326594 · Exec VP, CFO, Treasurer, Secre

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 198,022

F1 · shares: All of these shares are restricted common shares that were granted to the reporting person by the Issuer's Board of Trustees (the "Board"). 4,800, 4,799, and 4,799 of these shares shall become vested and nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer or an affiliate, on January 1, 2020, January 1, 2021, and January 1, 2022, respectively.

SEC source: 0001209191-19-001503 · doc4.xml · nonDerivative · entry 1

WEBB EARL E · CIK 0001042560 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 18,675

F1 · price: Payment of 50 percent of annual retainer fee for serving on the Board of Trustees of Pebblebrook Hotel Trust in 2018. Per-share value is the average of the closing prices for the Company's common shares on the New York Stock Exchange for the ten trading days preceding the date of payment.

SEC source: 0001209191-19-001517 · doc4.xml · nonDerivative · entry 1

Fisher Thomas Charles · CIK 0001480818 · EVP, Chief Investment Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 111,052

F1 · shares: Represents Common Shares sold to the Issuer as payment of tax withholding due upon vesting of 11,284 Common Shares.

SEC source: 0001209191-19-001497 · doc4.xml · nonDerivative · entry 1

Jackson Ron E. · CIK 0001478013 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 39,411

F1 · price: Payment of 100 percent of annual retainer fee for serving on the Board of Trustees of Pebblebrook Hotel Trust in 2018. Per-share value is the average of the closing prices for the Company's common shares on the New York Stock Exchange for the ten trading days preceding the date of payment.