SVC Service Properties Trust

On June 13, 2023, on the recommendation of our Nominating and Governance Committee, our Board of Trustees ("Board") elected Rajan C. Penkar as an Independent Trustee of our Board with a term to expire at the Company's 2024 annual meeting and increased the size of our Board to eight Trustees. The Board appointed Mr. Penkar to serve on the Audit Committee and the Compensation Committee of the Board. 

Mr. Penkar is the founder of Supply Chain Advisor Services, LLC, which provides e-commerce and omni-channel supply chain design and optimization services to retailers, and has served as its president since 2014. Mr. Penkar served as an independent director of TravelCenters of America Inc. from 2020 until it was acquired in May 2023. Mr. Penkar also served as a director of USA Truck Inc. from 2021 until it was acquired in 2022, and U.S. Concrete, Inc. from 2020 until it was acquired in 2021. From 2011 to 2014, Mr. Penkar served as senior vice president and president, supply chain for Sears Holding Corporation, an integrated retailer. In this position, Mr. Penkar was accountable for all aspects of the supply chain including global sourcing, retail and e-commerce distribution and fulfillment, global transportation, inventory management, and inside-the-home delivery and installation of appliances and big-ticket merchandise. Before joining Sears Holding Corporation, Mr. Penkar held various positions of increasing responsibility with United Parcel Service, Inc., or UPS, from 1987 to 2011, most recently serving as president, UPS Customer Solutions. Mr. Penkar holds a certificate in cybersecurity oversight from Carnegie Mellon University and the National Association of Corporate Directors.

Our Board concluded that Mr. Penkar is qualified to serve as an Independent Trustee in accordance with the requirements of The Nasdaq Stock Market LLC, the Securities and Exchange Commission and our governing documents. For his service as an Independent Trustee, Mr. Penkar will be entitled to the compensation we generally provide to our Independent Trustees. There is no arrangement or understanding between Mr. Penkar and any other person pursuant to which Mr. Penkar was selected as a Trustee. There are no transactions, relationships or agreements between Mr. Penkar and us that would require disclosure pursuant to Item 404(a) of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended.

In connection with his election as an Independent Trustee, we entered into an indemnification agreement with Mr. Penkar, which agreement is on substantially the same terms as the indemnification agreements we have entered with our other Trustees and executive officers. We have previously filed a form of indemnification agreement entered into by our Trustees with us as Exhibit 10.9 to our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, which form is incorporated herein by reference.