Jon E. Bortz, Chairman of the Board, President and Chief Executive Officer of Pebblebrook Hotel Trust (the “Company”), adopted a pre-arranged share trading plan on December 16, 2016 (the “Plan”), in accordance with guidelines set forth in Rule 10b5-1 under the Securities and Exchange Act of 1934, as amended (“Rule 10b5‑1”), in keeping with Mr. Bortz’s intention to diversify his holdings over time.

The Plan provides that a brokerage firm may sell up to an aggregate of 45,384 of the Company’s common shares of beneficial interest, $0.01 par value per share (“Common Shares”). These Common Shares were awarded to Mr. Bortz in February of 2014, 2015 or 2016 as time-based restricted Common Shares that will vest on January 1 of 2017, 2018 or 2019, provided that Mr. Bortz remains employed by the Company through the applicable vesting date or as otherwise described in the respective award agreements.

Shares may be sold under the Plan on the open market at prevailing market prices and subject to minimum price thresholds specified in the Plan. The Plan is scheduled to terminate on March 31, 2019, unless terminated sooner in accordance with its terms. There can be no assurance that any shares will be sold under the Plan.

Rule 10b5-1 permits insiders to sell a specified portion of their holdings at a specified time or over a specified period of time to a plan established at a time when the insider is not in possession of material non-public information. A Rule 10b5-1 plan offers an opportunity for an insider to provide for future transactions to occur without concern about future events that may then be considered material non-public information and could otherwise prevent an insider from conducting such transactions.

Transactions under the Plan will be reported to the Securities and Exchange Commission in accordance with applicable securities laws, rules and regulations. Except as may be required by law, the Company does not undertake to report on any Rule 10b5-1 share trading plans of the Company’s officers, nor to report modifications or terminations of the aforementioned Plan or the plans of any other individual.

About PEBBLEBROOK HOTEL TRUST (NASDAQ:PEB)