PEB Pebblebrook Hotel Trust

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 2/4 quarters. Q3 2025: $10M, Q2 2025: $0M, Q1 2025: $7M, Q3 2024: $0M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $10M vs trailing avg $2M (+338%)

What percentage of free cash flow is going to buybacks? Bull: 30-80%. Bear: <10% or >80%.

Negative FCF ($-44M), cannot compute buyback ratio

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Missing shares repurchased or outstanding data

Are officers and directors buying stock with their own money on the open market?

14 open-market purchases by 3 insiders

• SCHALL MICHAEL J () bought 10,000 shares at $10.85 on 2025-11-19
• SCHALL MICHAEL J () bought 10,000 shares at $10.08 on 2025-08-19
• BORTZ JON E (Chairman and CEO) bought 5,000 shares at $9.50 on 2025-06-06
• BORTZ JON E (Chairman and CEO) bought 18,000 shares at $9.15 on 2025-05-30
• BORTZ JON E (Chairman and CEO) bought 6,000 shares at $9.00 on 2025-05-27
• Jackson Ron E. () bought 10,000 shares at $8.91 on 2025-05-23
• BORTZ JON E (Chairman and CEO) bought 20,000 shares at $8.99 on 2025-05-22
• BORTZ JON E (Chairman and CEO) bought 23,213 shares at $9.73 on 2025-05-20
• BORTZ JON E (Chairman and CEO) bought 10,787 shares at $10.07 on 2025-05-16
• SCHALL MICHAEL J () bought 10,000 shares at $9.04 on 2025-05-07

Are insider purchases happening during the same quarters the company is actively buying back stock?

Insider buying coincided with company buybacks in 0 of 4 quarters

Looking at all open-market transactions, are insiders net buyers or net sellers?

Insiders bought $2M, sold $1M (net buying)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

No buyback-insider divergence detected