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Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2023

The following table summarizes the advisory services fees incurred (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Advisory services fee
Base advisory fee	$	3,393	$	3,269	$	10,700	$	9,434
Reimbursable expenses (1)	2,028		1,191		6,092		3,460
Equity-based compensation (2)	1,599		3,346		6,391		8,293
Incentive fee	—		1,048		—		1,294
Total	$	7,020	$	8,854	$	23,183	$	22,481

________

(1)Reimbursable expenses include overhead, internal audit, risk management advisory, asset management services and deferred cash awards.

(2) Equity-based compensation is associated with equity grants of Braemar’s common stock, PSUs, LTIP units and Performance LTIP units awarded to officers and employees of Ashford LLC.

The table below summarizes the amount Braemar has expensed related to reimbursed operating expenses of Ashford Securities (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
Line Item	2023		2022		2023		2022
Corporate, general and administrative	$	921	$	5,520	$	3,140	$	6,711