<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2026-01-15</periodOfReport>

    <issuer>
        <issuerCik>0001476045</issuerCik>
        <issuerName>Chatham Lodging Trust</issuerName>
        <issuerTradingSymbol>CLDT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001252991</rptOwnerCik>
            <rptOwnerName>RUHFUS ROLF E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>222 LAKEVIEW AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 200</rptOwnerStreet2>
            <rptOwnerCity>WEST PALM BEACH</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>33401</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2026-01-15</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>11546</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>6.93</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>70129</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Represents a grant of 11,546 common shares to the reporting person on January 15, 2026 as payment for serving on the board of trustees of Chatham Lodging Trust (the &quot;Company&quot;) in 2025. The share grant comprises the share-based portion of the Company's previously disclosed annual compensation to its trustees for fiscal year 2025. Per-share value is the average of the closing prices for the Company's common shares on the New York Stock Exchange for the last ten trading days of 2025.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Dennis M. Craven, as Attorney in Fact</signatureName>
        <signatureDate>2026-01-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
