PEB Pebblebrook Hotel Trust

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

Bought back stock in 3/4 quarters. Q1 2026: $15M, Q3 2025: $10M, Q2 2025: $0M, Q1 2025: $7M

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

Latest quarter $15M vs trailing avg $6M (+160%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Negative FCF ($-49M), buybacks not supported by cash flow

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?

9 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

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Company buybacks in 3 quarters and 9 insider purchases by 3 insiders (no calendar overlap, but both independently active)

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $1M in the last 90 days (net selling)

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

No buyback-insider divergence detected