<SEC-DOCUMENT>0001104659-22-085747.txt : 20220803
<SEC-HEADER>0001104659-22-085747.hdr.sgml : 20220803
<ACCEPTANCE-DATETIME>20220803184745
ACCESSION NUMBER:		0001104659-22-085747
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220715
FILED AS OF DATE:		20220803
DATE AS OF CHANGE:		20220803

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Welter Jeremy
		CENTRAL INDEX KEY:			0001516834

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35972
		FILM NUMBER:		221134106

	MAIL ADDRESS:	
		STREET 1:		14185 DALLAS PARKWAY
		STREET 2:		SUITE 1100
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75254

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Braemar Hotels & Resorts Inc.
		CENTRAL INDEX KEY:			0001574085
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				462488594
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		14185 DALLAS PARKWAY
		STREET 2:		SUITE 1100
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75254
		BUSINESS PHONE:		(972) 490-9600

	MAIL ADDRESS:	
		STREET 1:		14185 DALLAS PARKWAY
		STREET 2:		SUITE 1100
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75254

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Ashford Hospitality Prime, Inc.
		DATE OF NAME CHANGE:	20130410
</SEC-HEADER>
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            <rptOwnerZipCode>75254</rptOwnerZipCode>
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    <footnotes>
        <footnote id="F1">As indicated in the Form 4 filed on July 19, 2022 (the &quot;Original Filing&quot;) that reported common stock received by the Reporting Person in connection with the vesting of performance stock units (&quot;Performance Stock Units&quot;), the number of shares of common stock issued upon vesting of Performance Stock Units reported in the Original Filing was estimated and recorded at 100% of the number of Performance Stock Units initially awarded (the target number) because the number of Performance Stock Units that actually vested was dependent upon actual performance that had not yet been determined, and as a result the number of shares of common stock withheld for taxes upon the vesting of the Performance Stock Units was estimated in such filing because the final tax withholding information was likewise not available at the time.</footnote>
        <footnote id="F2">This amendment is being filed to report the number of Performance Stock Units that actually vested (200% of the target number of Performance Stock Units based on the extent of actual achievement of the specified performance goals) and the number of shares of common stock that were actually withheld to satisfy tax obligations upon vesting.</footnote>
        <footnote id="F3">Each Performance Stock Unit award represented the right, upon achievement of certain specified performance-based vesting criteria, to receive up to two (2) shares of the Issuer's common stock.</footnote>
        <footnote id="F4">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.</footnote>
        <footnote id="F5">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.</footnote>
        <footnote id="F6">Represents the closing price of the common stock on July 28, 2022, the last trading day before the date of forfeiture.</footnote>
        <footnote id="F7">Included in the amount reported are shares of common stock acquired under the automatic dividend reinvestment plan, exempt under Rule 16a-11.</footnote>
        <footnote id="F8">Represents the maximum share amount that may be issued pursuant to such award of Performance Stock Units. The number of shares of common stock to be issued upon vesting of a Performance Stock Unit can range from 0% to 200% of the number of Performance Stock Units awarded, based on achievement of specified performance goals.</footnote>
        <footnote id="F9">Represents special long-term incentive partnership units (&quot;LTIP Units&quot;) in Braemar Hospitality Limited Partnership, the Issuer's operating subsidiary (&quot;Subsidiary&quot;). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary (&quot;Common Partnership Units&quot;) are convertible into Common Partnership Units at the option of the Reporting Person. See Footnote 12 discussing convertibility of Common Partnership Units.</footnote>
        <footnote id="F10">The LTIP Units reported herein were subject to vesting in three (3) equal installments over a three (3) year term from the date of the award, subject to acceleration. See Footnote 8 discussing the convertibility of vested LTIP Units.</footnote>
        <footnote id="F11">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.</footnote>
        <footnote id="F12">Reflects the aggregate number of LTIP Units held by the Reporting Person following the LTIP Units award reported herein, and includes LTIP Units comprising awards previously granted to, and reported by, the Reporting Person. Such LTIP Units have different grant and include those which (i) may have achieved parity with the Common Partnership Units, or (ii) have not yet achieved parity with the Common Partnership Units. Such LTIP Units have been combined herein solely for reporting purposes. See Footnote 8 discussing convertibility of LTIP Units and Footnote 12 discussing the convertibility of the Common Partnership Units.</footnote>
        <footnote id="F13">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.</footnote>
        <footnote id="F14">Reflects the aggregate number of Common Partnership Units currently held 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 12 discussing the convertibility of the Common Partnership Units.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Jeremy Welter</signatureName>
        <signatureDate>2022-08-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</SEC-DOCUMENT>
