Pebblebrook Hotel Trust — Form 10-Q

Pebblebrook Hotel Trust restated its Declaration of Trust (effective December 3, 2009) and designated three series of cumulative redeemable preferred shares: (1) 5M Series A shares at 7.875% annual distribution ($1.96875/share), redeemable after March 11, 2016; (2) 3.4M Series B shares at 8.00% ($2.00/share), redeemable after September 21, 2016; (3) 4M Series C shares at 6.50% ($1.625/share), redeemable after March 18, 2018. Total authorized shares increased to 600M common + 100M preferred. All series have change-of-control conversion rights to common shares (capped at ~11.6M–11.7M shares total) and voting rights if distributions are in arrears.