Braemar Hotels & Resorts sent a letter reminding shareholders to disregard any proxy materials received from activist investor Blackwells Capital in connection with the company's 2024 Annual Meeting of Stockholders scheduled to be held on Wednesday, May 15. Braemar's Board unanimously determined that the Blackwells Nomination Notice was invalid due to Blackwells' numerous false statements and material omissions in violation of SEC rules and the company's Bylaws. As a result, a vote for any of Blackwells' purported nominees on the white proxy card will not be counted.