Pebblebrook Hotel Trust Annual Meeting of Shareholders to Reconvene on June 21, 2022

Rhea-AI Summary

Pebblebrook Hotel Trust (NYSE: PEB) is set to reconvene its Annual Meeting of Shareholders on June 21, 2022, at 9:00 a.m. ET. The primary agenda is to conduct a vote on Proposal 3, concerning the compensation of named executive officers. The meeting was initially convened on May 16, 2022, where other proposals were approved. Management aims to engage larger shareholders regarding Proposal 3 prior to the vote. Shareholders can vote in person or via proxy until June 20, 2022.

Positive

• The reconvened meeting allows shareholders to directly participate in the decision on executive compensation.
• Previous proposals were successfully approved, indicating shareholder alignment on key issues.

Negative

• The need to adjourn the meeting suggests potential disagreement or concerns among shareholders regarding executive compensation.
• Ongoing shareholder engagement is necessary, indicating possible dissatisfaction or opposition.

BETHESDA, Md.--(BUSINESS WIRE)-- On June 14, 2022, Pebblebrook Hotel Trust (the “Company”) reminded shareholders that the vote on Proposal 3: Advisory Vote on the Compensation of Our Named Executive Officers (“Proposal 3”) will be held when the 2022 Annual Meeting of Shareholders (the “Annual Meeting”) is reconvened on June 21, 2022 at 9:00 a.m., Eastern Time, at the offices of Hunton Andrews Kurth LLP, 8405 Greensboro Drive, Suite 140, Tysons, Virginia 22102.

As previously disclosed, the Company convened the Annual Meeting on May 16, 2022. Votes regarding Proposals 1, 2 and 4 were held, by which all of the trustee nominees were elected, the selection of the independent registered public accountants was ratified and the maturity date of the Company’s equity incentive plan was extended, and the meeting was adjourned.

When announcing the adjournment, the chairman of the meeting explained that the reason for the adjournment was to provide time for management to speak with the Company’s larger shareholders regarding Proposal 3.

The Company does not expect to conduct any items of business at the reconvened meeting other than to conduct the vote on Proposal 3.

The polls remain open for Proposal 3. Shareholders may vote their shares or change their vote on Proposal 3 either by voting in person when the Annual Meeting is reconvened or by submitting their proxy before 11:59 pm on June 20, 2022. Shareholders may submit their proxy by telephone or by Internet, as described in the Proxy Statement and the Notice of Internet Availability of Proxy Materials provided to shareholders on or about March 31, 2022. Proxies that have already been submitted do not need to be resubmitted to be tallied when the Annual Meeting is reconvened.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (“REIT”) and the largest owner of urban and resort lifestyle hotels in the United States. The Company owns 54 hotels, totaling approximately 13,400 guest rooms across 15 urban and resort markets. For more information, visit www.pebblebrookhotels.com and follow us at @PebblebrookPEB.

This press release contains certain “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. These forward-looking statements relate to when the Annual Meeting will reconvene. These forward-looking statements are subject to various risks and uncertainties, many of which are beyond the Company’s control, which could cause actual events to differ materially from such statements. Unless legally required, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information about the Company’s business and financial results, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of the Company’s SEC filings, including, but not limited to, its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, copies of which may be obtained at the Investor Relations section of the Company’s website at www.pebblebrookhotels.com.

All information in this press release is as of June 14, 2022. The Company undertakes no duty to update the statements in this press release to conform the statements to actual results or changes in the Company’s expectations.

For additional information or to receive press releases via email, please visit our website at www.pebblebrookhotels.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20220614006010/en/

Raymond D. Martz, Chief Financial Officer, Pebblebrook Hotel Trust - (240) 507-1330

Source: Pebblebrook Hotel Trust

FAQ

What is the date of Pebblebrook Hotel Trust's Annual Meeting?

Pebblebrook Hotel Trust's Annual Meeting is reconvened on June 21, 2022.

What will be voted on during the Annual Meeting?

The vote will specifically address Proposal 3 regarding the compensation of named executive officers.

How can shareholders vote on Proposal 3?

Shareholders can vote in person at the meeting or submit their proxy by June 20, 2022.

What happened during the initial Annual Meeting on May 16, 2022?

During the initial meeting, Proposals 1, 2, and 4 were approved, and trustee nominees were elected.

What is the significance of Proposal 3 for Pebblebrook Hotel Trust shareholders?

Proposal 3 addresses the compensation of executives, which may impact shareholder interests and company governance.