Pebblebrook Hotel Trust sets 2025 executive pay structure, with bonuses tied to FFO and TSR goals
Pebblebrook's board approved 2025 compensation for its executive officers on February 7, 2025, with a structure substantially the same as 2024. Pay combines base salary, a cash bonus tied to 2025 objectives, and long-term equity awards, with 60% of equity subject to performance-based vesting over 2025-2027.
Key points
- Jon E. Bortz's 2025 target cash incentive bonus is $1,390,000 on a base salary of $840,000; Raymond D. Martz and Thomas C. Fisher each have a $590,000 target bonus on a $560,000 base salary.
- Time-based grants vest in one-third increments on January 1, 2026, 2027 and 2028; Bortz received 112,168 LTIP Units, and Martz and Fisher received 47,426 units each (Fisher's as Restricted Share Units).
- Performance units cover a three-year period ending December 31, 2027, with 70% tied to relative TSR and 30% to absolute TSR.
- Bonus objectives include Adjusted FFO per share (30% of target), completed dispositions (20%) and a hurricane recovery goal for LaPlaya (10%).
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:56 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 11, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.