DiamondRock Hospitality Co. Announces Board and Executive Changes
Ticker: DRH · Form: 8-K · Filed: May 23, 2024 · CIK: 1298946
Sentiment: neutral
Topics: governance, executive-compensation, board-changes
Related Tickers: DRH
TL;DR
DRH board shakeup and exec comp changes filed. Watch for strategy shifts.
AI Summary
DiamondRock Hospitality Co. announced on May 17, 2024, changes in its board of directors and executive compensation arrangements. The filing details the departure of certain directors and the election of new ones, alongside updates to compensatory plans for its officers. Specific financial figures related to these changes were not detailed in this initial 8-K filing.
Why It Matters
Changes in a company's board and executive compensation can signal shifts in strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing reports routine corporate governance changes and executive compensation adjustments, which typically carry low immediate risk.
Key Players & Entities
- DiamondRock Hospitality Co (company) — Registrant
- May 17, 2024 (date) — Date of earliest event reported
- Maryland (jurisdiction) — State of incorporation
- 2 Bethesda Metro Center, Suite 1400 (address) — Principal Executive Offices
- 240-744-1150 (phone_number) — Registrant's telephone number
FAQ
What specific changes were made to the board of directors?
The filing indicates the departure of certain directors and the election of new directors, but the specific names and details of these changes are not provided in this initial 8-K filing.
What are the details of the compensatory arrangements for certain officers?
The filing states that there are updates to compensatory arrangements for certain officers, but the specific terms and financial implications are not detailed in this report.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on May 17, 2024.
What is DiamondRock Hospitality Co.'s state of incorporation?
DiamondRock Hospitality Co. is incorporated in Maryland.
Where are DiamondRock Hospitality Co.'s principal executive offices located?
The principal executive offices are located at 2 Bethesda Metro Center, Suite 1400, Bethesda, MD 20814.
Filing Stats: 1,054 words · 4 min read · ~4 pages · Grade level 11.7 · Accepted 2024-05-23 16:52:25
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value DRH New York Stock Exchange
- $418,497 — ro-rata bonus for 2024 in the amount of $418,497 for Mr. Brugger and $154,076 for Mr. Fu
- $154,076 — amount of $418,497 for Mr. Brugger and $154,076 for Mr. Furbay, in each case determined
- $6,885,000 — year; a lump sum severance payment of $6,885,000 in the case of Mr. Brugger and $2,128,0
- $2,128,000 — ,885,000 in the case of Mr. Brugger and $2,128,000 in the case of Mr. Furbay; continued h
- $10,000 — Mr. Furbay, the reimbursement of up to $10,000 in attorney's fees; and in lieu of pre
- $3,500,000 — fiscal year 2024, a lump sum payment of $3,500,000 in the case of Mr. Brugger and $1,025,0
- $1,025,000 — ,500,000 in the case of Mr. Brugger and $1,025,000 in the case of Mr. Furbay. All cash p
Filing Documents
- drh-20240517.htm (8-K) — 41KB
- exhibit10152324.htm (EX-10.1) — 64KB
- exhibit10252324.htm (EX-10.2) — 68KB
- 0001298946-24-000084.txt ( ) — 365KB
- drh-20240517.xsd (EX-101.SCH) — 2KB
- drh-20240517_def.xml (EX-101.DEF) — 15KB
- drh-20240517_lab.xml (EX-101.LAB) — 27KB
- drh-20240517_pre.xml (EX-101.PRE) — 16KB
- drh-20240517_htm.xml (XML) — 4KB
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibits are included with this report: Exhibit No. Description 10.1 General Release Agreement, dated May 17, 2024, between Troy G. Furbay and DiamondRock Hospitality Company . 10.2* General Release Agreement, dated May 21, 2024, between Mark W. Brugger and DiamondRock Hospitality Company . 101.SCH Inline XBRL Taxonomy Extension Schema Document 101.CAL Inline XBRL Taxonomy Extension Calculation Linkbase Document 101.DEF Inline XBRL Taxonomy Extension Definition Linkbase Document 101.LAB Inline XBRL Taxonomy Extension Label Linkbase Document 101.PRE Inline XBRL Taxonomy Extension Presentation Linkbase Document 104 Cover Page Interactive Data File * Portions of this exhibit have been omitted pursuant to Rule 601(b)(10)(iv) of Regulation S-K. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DIAMONDROCK HOSPITALITY COMPANY Dated: May 23, 2024 By: /s/ Briony R. Quinn Briony R. Quinn Executive Vice President, Chief Financial Officer and Treasurer