Braemar Hotels & Resorts Inc. 10-Q

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS Purchases of Equity Securities by the Issuer On May 3, 2024, our board of directors approved a new share repurchase program, pursuant to which the board of directors granted a repurchase authorization to acquire shares of the Company’s common stock, par value $0.01 per share, having an aggregate value of up to $50 million. The Company intends to begin share repurchases as soon as practicable and may repurchase shares through open market transactions, privately negotiated transactions or other means. The timing and amount of any transactions will be subject to the discretion of the Company based upon market conditions, and the program may be suspended or terminated at any time by the Company at its discretion without prior notice. The board of director’s authorization replaced any previous repurchase authorizations. The following table provides the information with respect to purchases and forfeitures of our common stock during each of the months in the first quarter of 2024: Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of a Publicly Announced Plan Maximum Dollar Value of Shares That May Yet Be Purchased Under the Plan Common stock: January 1 to January 31 — $ — — February 1 to February 29 128,105 (1) $ 2.30 (2) — March 1 to March 31 42,978 (1) $ 1.95 (2) — Total 171,083 $ 2.22 — ________ (1) Includes 127,803 and 42,679 shares in February and March, respectively, that were withheld to cover tax-withholding requirements related to the vesting of restricted shares of our common stock issued to employees of our Advisor pursuant to the Company’s stockholder-approved stock incentive plan (2) There is no cost associated with the forfeiture of 302 and 299 restricted shares of our common stock in February and March, respectively. ITEM 3. DEFAULTS UPON SENIOR SECURITIES None. ITEM 4. MINE SAFETY DISCLOSURES None.