SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

SHREVE CHRISTINE A

(Last)

(First)

(Middle)

8171 MAPLE LAWN BLVD

SUITE 375

(Street)

FULTON

20759

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
11/11/2019

3. Issuer Name and Ticker or Trading Symbol
CHOICE HOTELS INTERNATIONAL INC /DE [ CHH ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	1,175,000	I	See Footnote⁽¹⁾
Common Stock	1,685,061	I	See Footnote⁽²⁾
Common Stock	1,520,625	I	See Footnote⁽³⁾
Common Stock	6,168	I	See Footnote⁽⁴⁾
Common Stock	2,097,251	I	See Footnote⁽⁵⁾
Common Stock	2,800	D⁽⁶⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)

Explanation of Responses:

1. Shares owned by Shadow Holdings, LLC an LLC whose sole members are Barbara Bainum and trusts for her benefit, for which Ms. Shreve is manager and has shared voting authority.

2. Shares owned by Posadas Holdings, LLC an LLC whose sole members are Bruce Bainum and various trusts for either his benefit or the benefit of his wife or children, for which Ms. Shreve is manager and has shared voting authority.

3. Shares owned by Sweetwater Holdings, LLC an LLC whose sole members are Roberta Bainum and trusts for her benefit or the benefit of her children, for which Ms. Shreve is manager and has shared voting authority.

4. Shares owned by trusts for the benefit of Renschler family members for which Ms. Shreve is trustee.

5. Shares owned by the Jane Bainum Declaration of Trust, a trust for the benefit of Jane Bainum, for which Ms. Shreve is co-trustee and has shared voting and dispositive authority along with Stewart Bainum, Jr, co-trustee.

6. Shares owned by Ms. Shreve jointly with her husband.

Remarks:

	Christine A. Shreve	11/12/2019
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.