X0306 4 2020-01-01 0 0001301236 Sotherly Hotels Inc. SOHO 0001350120 Folsom David R 306 S HENRY ST SUITE 100 WILLIAMSBURG, VA VA 23185 1 1 0 0 President and CEO Common Stock 2020-01-01 4 A 0 30000 0.00 A 291674 D Common Stock 16805 I By ESOP The securities were granted pursuant to the Reporting Person's Employment Agreement, dated as of January 1, 2020. Subject to accelerated vesting in certain circumstances, the securities will vest in equal amounts of 6,000 shares over a five-year period beginning with the first installment vesting on the date of execution of a new or successor agreement, and subsequent installments vesting on each anniversary of such execution. Reflects allocations under the issuer's Employee Stock Ownership Plan. /s/ David R. Folsom 2020-01-03