AHT

SEC source: 0001567619-20-021321 · doc1.xml · nonDerivative · entry 6

TALLIS ALAN · CIK 0001187669 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By 2012 Shirley A. Tallis Irrevocable Trust

Disclosed balance after: 11,645

F2 · price: The Reporting Person disposed of 2,087 shares of 7.375% Series F Cumulative Preferred Stock in exchange for 11,645 shares of common stock in an issuer exchange offer.

SEC source: 0001567619-20-021321 · doc1.xml · nonDerivative · entry 5

TALLIS ALAN · CIK 0001187669 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By 2009 Tallis Family Irrevocable Trust

Disclosed balance after: 21,949

F2 · price: The Reporting Person disposed of 2,087 shares of 7.375% Series F Cumulative Preferred Stock in exchange for 11,645 shares of common stock in an issuer exchange offer.

SEC source: 0001567619-20-021321 · doc1.xml · nonDerivative · entry 4

TALLIS ALAN · CIK 0001187669 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By 2012 Shirley A. Tallis Irrevocable Trust

Disclosed balance after: 0

F2 · price: The Reporting Person disposed of 2,087 shares of 7.375% Series F Cumulative Preferred Stock in exchange for 11,645 shares of common stock in an issuer exchange offer.

SEC source: 0001567619-20-021321 · doc1.xml · nonDerivative · entry 3

TALLIS ALAN · CIK 0001187669 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By 2009 Tallis Family Irrevocable Trust

Disclosed balance after: 0

F2 · price: The Reporting Person disposed of 2,087 shares of 7.375% Series F Cumulative Preferred Stock in exchange for 11,645 shares of common stock in an issuer exchange offer.

SEC source: 0001567619-20-018435 · doc1.xml · nonDerivative · entry 1

Ansell Benjamin J MD · CIK 0001464574 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Ansell Family Trust

Disclosed balance after: 51,477

F1 · shares: On October 23, 2020, the Ansell Family Trust transferred 50,000 shares of the Issuer's common stock to the Ansell 2020 Trust, a family trust of which the Reporting Person is trustee. The Reporting Person and members of his immediate family are the sole beneficiaries of the Ansell 2020 Trust.

SEC source: 0001104659-20-110409 · a4.xml · nonDerivative · entry 1

Ansell Benjamin J MD · CIK 0001464574 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 21,913

F1 · kind: The shares were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of certain cash retainer fees and were fully vested upon grant.

F1 · price: The shares were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of certain cash retainer fees and were fully vested upon grant.

SEC source: 0001104659-20-110414 · a4.xml · derivative · entry 2

KLEISNER FRED J · CIK 0001286494 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 19,526

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F2 · security: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F2 · derivative.exercise_price: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F3 · kind: The LTIP Units were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of certain cash retainer fees and were fully vested upon grant.

F3 · price: The LTIP Units were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of certain cash retainer fees and were fully vested upon grant.

F2 · derivative.exercise_date: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F4 · derivative.expiration_date: Neither the LTIP Units nor the Common Units have an expiration date.

F2 · derivative.underlying: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F5 · derivative.underlying: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017. On July 13, 2020, 140,625 LTIP Units converted to Common Units.

F5 · derivative.underlying_shares: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017. On July 13, 2020, 140,625 LTIP Units converted to Common Units.

F1 · balance_after: The shares shown have been adjusted to reflect the Issuer's reverse stock split of its outstanding shares of common stock on a 1-for-10 basis that occurred on July 15, 2020.

SEC source: 0001104659-20-110416 · a4.xml · derivative · entry 6

TALLIS ALAN · CIK 0001187669 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 22,014

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F2 · security: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F2 · derivative.exercise_price: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F3 · kind: The LTIP Units were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of certain cash retainer fees and were fully vested upon grant.

F3 · price: The LTIP Units were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of certain cash retainer fees and were fully vested upon grant.

F2 · derivative.exercise_date: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F4 · derivative.expiration_date: Neither the LTIP Units nor the Common Units have an expiration date.

F2 · derivative.underlying: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F5 · derivative.underlying: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017. On July 13, 2020, 140,625 LTIP Units converted to Common Units.

F5 · derivative.underlying_shares: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017. On July 13, 2020, 140,625 LTIP Units converted to Common Units.

F1 · balance_after: The shares shown have been adjusted to reflect the Issuer's reverse stock split of its outstanding shares of common stock on a 1-for-10 basis that occurred on July 15, 2020.

SEC source: 0001104659-20-110415 · a4.xml · derivative · entry 1

PANTERMUEHL SHERI L · CIK 0001314182 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 22,843

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · security: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F1 · derivative.exercise_price: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F2 · kind: The LTIP Units were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of certain cash retainer fees and were fully vested upon grant.

F2 · price: The LTIP Units were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of certain cash retainer fees and were fully vested upon grant.

F1 · derivative.exercise_date: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F3 · derivative.expiration_date: Neither the LTIP Units nor the Common Units have an expiration date.

F1 · derivative.underlying: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F4 · derivative.underlying: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017. On July 13, 2020, 140,625 LTIP Units converted to Common Units.

F4 · derivative.underlying_shares: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017. On July 13, 2020, 140,625 LTIP Units converted to Common Units.

F5 · balance_after: The shares shown have been adjusted to reflect the Issuer's reverse stock split of its outstanding shares of common stock on a 1-for-10 basis that occurred on July 15, 2020.

SEC source: 0001104659-20-110413 · a4.xml · derivative · entry 2

Jafarnia Kamal · CIK 0001568076 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 21,185

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F2 · security: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F2 · derivative.exercise_price: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F3 · kind: The LTIP Units were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of certain cash retainer fees and were fully vested upon grant.

F3 · price: The LTIP Units were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of certain cash retainer fees and were fully vested upon grant.

F2 · derivative.exercise_date: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F4 · derivative.expiration_date: Neither the LTIP Units nor the Common Units have an expiration date.

F2 · derivative.underlying: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F5 · derivative.underlying: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017. On July 13, 2020, 140,625 LTIP Units converted to Common Units.

F5 · derivative.underlying_shares: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017. On July 13, 2020, 140,625 LTIP Units converted to Common Units.

F1 · balance_after: The shares shown have been adjusted to reflect the Issuer's reverse stock split of its outstanding shares of common stock on a 1-for-10 basis that occurred on July 15, 2020.

SEC source: 0001104659-20-110411 · a4.xml · derivative · entry 1

Gupta Amish · CIK 0001608286 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 46,689

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · security: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F1 · derivative.exercise_price: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F2 · kind: The LTIP Units were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of certain cash retainer fees and were fully vested upon grant.

F2 · price: The LTIP Units were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of certain cash retainer fees and were fully vested upon grant.

F1 · derivative.exercise_date: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F3 · derivative.expiration_date: Neither the LTIP Units nor the Common Units have an expiration date.

F1 · derivative.underlying: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F4 · derivative.underlying: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017.

F4 · derivative.underlying_shares: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017.

F5 · balance_after: The shares shown have been adjusted to reflect the Issuer's reverse stock split of its outstanding shares of common stock on a 1-for-10 basis that occurred on July 15, 2020.

SEC source: 0001567619-20-016684 · doc1.xml · nonDerivative · entry 1

Ansell Benjamin J MD · CIK 0001464574 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,000

SEC source: 0001567619-20-016183 · doc1.xml · nonDerivative · entry 1

Ansell Benjamin J MD · CIK 0001464574 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Ansell Family Trust

Disclosed balance after: 101,477

SEC source: 0001104659-20-092933 · a4.xml · nonDerivative · entry 2

Ansell Benjamin J MD · CIK 0001464574 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Ansell Family Trust

Disclosed balance after: 51,477

F2 · price: Reflects the weighted average purchase price for the reported transactions. The shares were purchased in multiple transactions at prices ranging from $3.82 to $3.85, inclusive. The Reporting Person will provide the SEC staff, the Issuer, or any security holder of the Issuer, upon request for same, with the full information regarding the number of shares purchased at each separate price within the range specified.

F1 · balance_after: On June 29, 2020, the Reporting Person transferred 236,574 shares of the Issuer's common stock to the Ansell Family Trust, a family trust of which the Reporting Person is trustee. The Reporting Person and members of his immediate family are the sole beneficiaries of the trust.

F3 · balance_after: The shares shown have been adjusted to reflect the Issuer's reverse stock split of its outstanding shares of common stock on a 1-for-10 basis that occurred on July 15, 2020.

SEC source: 0001104659-20-092933 · a4.xml · nonDerivative · entry 1

Ansell Benjamin J MD · CIK 0001464574 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 87,800

F1 · shares: On June 29, 2020, the Reporting Person transferred 236,574 shares of the Issuer's common stock to the Ansell Family Trust, a family trust of which the Reporting Person is trustee. The Reporting Person and members of his immediate family are the sole beneficiaries of the trust.

SEC source: 0001104659-20-066383 · a4.xml · nonDerivative · entry 1

Ansell Benjamin J MD · CIK 0001464574 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 324,374

F1 · kind: The shares were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of 25% of the annual cash retainers (as such cash retainers were reduced in March 2020) that would otherwise be payable to the Reporting Person under the Issuer's non-employee director compensation program for a one-year period and are fully vested.

F1 · price: The shares were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of 25% of the annual cash retainers (as such cash retainers were reduced in March 2020) that would otherwise be payable to the Reporting Person under the Issuer's non-employee director compensation program for a one-year period and are fully vested.

SEC source: 0001104659-20-066386 · a4.xml · derivative · entry 2

KLEISNER FRED J · CIK 0001286494 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 197,643

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · security: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F1 · derivative.exercise_price: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F2 · kind: The LTIP Units were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of 25% of the annual cash retainers (as such cash retainers were reduced in March 2020) that would otherwise be payable to the Reporting Person under the Issuer's non-employee director compensation program for a one-year period and are fully vested.

F2 · price: The LTIP Units were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of 25% of the annual cash retainers (as such cash retainers were reduced in March 2020) that would otherwise be payable to the Reporting Person under the Issuer's non-employee director compensation program for a one-year period and are fully vested.

F1 · derivative.exercise_date: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F3 · derivative.expiration_date: Neither the LTIP Units nor the Common Units have an expiration date.

F1 · derivative.underlying: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F4 · derivative.underlying: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017.

F4 · derivative.underlying_shares: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017.

SEC source: 0001104659-20-066392 · a4.xml · derivative · entry 6

TALLIS ALAN · CIK 0001187669 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 201,779

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · security: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F1 · derivative.exercise_price: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F2 · kind: The LTIP Units were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of 25% of the annual cash retainers (as such cash retainers were reduced in March 2020) that would otherwise be payable to the Reporting Person under the Issuer's non-employee director compensation program for a one-year period and are fully vested.

F2 · price: The LTIP Units were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of 25% of the annual cash retainers (as such cash retainers were reduced in March 2020) that would otherwise be payable to the Reporting Person under the Issuer's non-employee director compensation program for a one-year period and are fully vested.

F1 · derivative.exercise_date: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F3 · derivative.expiration_date: Neither the LTIP Units nor the Common Units have an expiration date.

F1 · derivative.underlying: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F4 · derivative.underlying: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017.

F4 · derivative.underlying_shares: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017.

SEC source: 0001104659-20-066391 · a4.xml · derivative · entry 1

PANTERMUEHL SHERI L · CIK 0001314182 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 203,158

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · derivative.exercise_price: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F2 · kind: The LTIP Units were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of 25% of the annual cash retainers (as such cash retainers were reduced in March 2020) that would otherwise be payable to the Reporting Person under the Issuer's non-employee director compensation program for a one-year period and are fully vested.

F2 · price: The LTIP Units were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of 25% of the annual cash retainers (as such cash retainers were reduced in March 2020) that would otherwise be payable to the Reporting Person under the Issuer's non-employee director compensation program for a one-year period and are fully vested.

F1 · derivative.exercise_date: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F3 · derivative.expiration_date: Neither the LTIP Units nor the Common Units have an expiration date.

F1 · derivative.underlying: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F4 · derivative.underlying: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017.

F4 · derivative.underlying_shares: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017.

SEC source: 0001104659-20-066385 · a4.xml · derivative · entry 2

Jafarnia Kamal · CIK 0001568076 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 200,400

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · security: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F1 · derivative.exercise_price: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F2 · kind: The LTIP Units were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of 25% of the annual cash retainers (as such cash retainers were reduced in March 2020) that would otherwise be payable to the Reporting Person under the Issuer's non-employee director compensation program for a one-year period and are fully vested.

F2 · price: The LTIP Units were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of 25% of the annual cash retainers (as such cash retainers were reduced in March 2020) that would otherwise be payable to the Reporting Person under the Issuer's non-employee director compensation program for a one-year period and are fully vested.

F1 · derivative.exercise_date: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F3 · derivative.expiration_date: Neither the LTIP Units nor the Common Units have an expiration date.

F1 · derivative.underlying: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F4 · derivative.underlying: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017.

F4 · derivative.underlying_shares: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017.

SEC source: 0001104659-20-066384 · a4.xml · derivative · entry 1

Gupta Amish · CIK 0001608286 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 259,518

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · security: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F1 · derivative.exercise_price: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F2 · kind: The LTIP Units were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of 25% of the annual cash retainers (as such cash retainers were reduced in March 2020) that would otherwise be payable to the Reporting Person under the Issuer's non-employee director compensation program for a one-year period and are fully vested.

F2 · price: The LTIP Units were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of 25% of the annual cash retainers (as such cash retainers were reduced in March 2020) that would otherwise be payable to the Reporting Person under the Issuer's non-employee director compensation program for a one-year period and are fully vested.

F1 · derivative.exercise_date: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F3 · derivative.expiration_date: Neither the LTIP Units nor the Common Units have an expiration date.

F1 · derivative.underlying: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F4 · derivative.underlying: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017.

F4 · derivative.underlying_shares: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017.

SEC source: 0001104659-20-063764 · a4.xml · nonDerivative · entry 1

Ansell Benjamin J MD · CIK 0001464574 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 298,179

F1 · price: The common stock reported herein was issued as an annual award under the Issuer's 2011 Stock Incentive Plan after the Reporting Person's re-election to the Issuer's Board of Directors.

SEC source: 0001104659-20-063771 · a4.xml · derivative · entry 2

KLEISNER FRED J · CIK 0001286494 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 170,069

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · security: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F1 · derivative.exercise_price: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F2 · kind: The LTIP Units reported herein were issued as an annual award under the Issuer's 2011 Stock Incentive Plan after the Reporting Person's re-election to the Issuer's Board of Directors.

F1 · derivative.exercise_date: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F3 · derivative.expiration_date: Neither the LTIP Units nor the Common Units have an expiration date.

F1 · derivative.underlying: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F4 · derivative.underlying: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017. On September 30, 2018, 14,861 LTIP Units converted to Common Units.

F4 · derivative.underlying_shares: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017. On September 30, 2018, 14,861 LTIP Units converted to Common Units.

SEC source: 0001104659-20-063773 · a4.xml · derivative · entry 6

TALLIS ALAN · CIK 0001187669 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 170,069

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · security: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F1 · derivative.exercise_price: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F2 · kind: The LTIP Units reported herein were issued as an annual award under the Issuer's 2011 Stock Incentive Plan after the Reporting Person's re-election to the Issuer's Board of Directors.

F1 · derivative.exercise_date: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F3 · derivative.expiration_date: Neither the LTIP Units nor the Common Units have an expiration date.

F1 · derivative.underlying: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F4 · derivative.underlying: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017. On September 30, 2018, 14,861 LTIP Units converted to Common Units.

F4 · derivative.underlying_shares: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017. On September 30, 2018, 14,861 LTIP Units converted to Common Units.

SEC source: 0001104659-20-063768 · a4.xml · derivative · entry 2

Jafarnia Kamal · CIK 0001568076 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 170,069

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · security: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F1 · derivative.exercise_price: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F2 · kind: The LTIP Units reported herein were issued as an annual award under the Issuer's 2011 Stock Incentive Plan after the Reporting Person's re-election to the Issuer's Board of Directors.

F1 · derivative.exercise_date: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F3 · derivative.expiration_date: Neither the LTIP Units nor the Common Units have an expiration date.

F1 · derivative.underlying: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F4 · derivative.underlying: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017. On September 30, 2018, 14,861 LTIP Units converted to Common Units.

F4 · derivative.underlying_shares: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017. On September 30, 2018, 14,861 LTIP Units converted to Common Units.

SEC source: 0001104659-20-063772 · a4.xml · derivative · entry 1

PANTERMUEHL SHERI L · CIK 0001314182 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 170,069

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · security: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F1 · derivative.exercise_price: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F2 · kind: The LTIP Units reported herein were issued as an annual award under the Issuer's 2011 Stock Incentive Plan after the Reporting Person's re-election to the Issuer's Board of Directors.

F1 · derivative.exercise_date: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F3 · derivative.expiration_date: Neither the LTIP Units nor the Common Units have an expiration date.

F1 · derivative.underlying: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F4 · derivative.underlying: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017.

F4 · derivative.underlying_shares: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017.

SEC source: 0001104659-20-063765 · a4.xml · derivative · entry 1

Gupta Amish · CIK 0001608286 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 218,157

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · security: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F1 · derivative.exercise_price: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F2 · kind: The LTIP Units reported herein were issued as an annual award under the Issuer's 2011 Stock Incentive Plan after the Reporting Person's re-election to the Issuer's Board of Directors.

F1 · derivative.exercise_date: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F3 · derivative.expiration_date: Neither the LTIP Units nor the Common Units have an expiration date.

F1 · derivative.underlying: Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.

F4 · derivative.underlying: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017.

F4 · derivative.underlying_shares: Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017.

SEC source: 0001567619-21-001090 · doc1.xml · nonDerivative · entry 8

KESSLER DOUGLAS A · CIK 0001260655 · Former CEO and President

10b5-1 filing: Not disclosed

Ownership: Indirect · By Grant R Kessler 2015 Children's Irrevocable Trust

Disclosed balance after: 50,000

F4 · kind: On March 25, 2020, the reporting person transferred 20,000 shares of the Issuer's common stock to a trust of which the reporting person is a trustee. Members of the reporting person's immediate family are the sole beneficiaries of the trust.

F3 · balance_after: Reflects the number of shares owned as of May 15, 2020 at the time the reporting person ceased to be subject to Section 16 of the Securities Exchange Act of 1934, as amended, and following the transactions reported on this Form 5.

F4 · ownership.nature: On March 25, 2020, the reporting person transferred 20,000 shares of the Issuer's common stock to a trust of which the reporting person is a trustee. Members of the reporting person's immediate family are the sole beneficiaries of the trust.

SEC source: 0001567619-21-001090 · doc1.xml · nonDerivative · entry 7

KESSLER DOUGLAS A · CIK 0001260655 · Former CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 147,990

F4 · kind: On March 25, 2020, the reporting person transferred 20,000 shares of the Issuer's common stock to a trust of which the reporting person is a trustee. Members of the reporting person's immediate family are the sole beneficiaries of the trust.

F3 · balance_after: Reflects the number of shares owned as of May 15, 2020 at the time the reporting person ceased to be subject to Section 16 of the Securities Exchange Act of 1934, as amended, and following the transactions reported on this Form 5.

SEC source: 0001567619-21-001090 · doc1.xml · nonDerivative · entry 6

KESSLER DOUGLAS A · CIK 0001260655 · Former CEO and President

10b5-1 filing: Not disclosed

Ownership: Indirect · By Brianna M Kessler 2015 Children's Irrevocable Trust

Disclosed balance after: 50,000

F4 · kind: On March 25, 2020, the reporting person transferred 20,000 shares of the Issuer's common stock to a trust of which the reporting person is a trustee. Members of the reporting person's immediate family are the sole beneficiaries of the trust.

F3 · balance_after: Reflects the number of shares owned as of May 15, 2020 at the time the reporting person ceased to be subject to Section 16 of the Securities Exchange Act of 1934, as amended, and following the transactions reported on this Form 5.

F4 · ownership.nature: On March 25, 2020, the reporting person transferred 20,000 shares of the Issuer's common stock to a trust of which the reporting person is a trustee. Members of the reporting person's immediate family are the sole beneficiaries of the trust.

SEC source: 0001567619-21-001090 · doc1.xml · nonDerivative · entry 5

KESSLER DOUGLAS A · CIK 0001260655 · Former CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 147,990

F4 · kind: On March 25, 2020, the reporting person transferred 20,000 shares of the Issuer's common stock to a trust of which the reporting person is a trustee. Members of the reporting person's immediate family are the sole beneficiaries of the trust.

F3 · balance_after: Reflects the number of shares owned as of May 15, 2020 at the time the reporting person ceased to be subject to Section 16 of the Securities Exchange Act of 1934, as amended, and following the transactions reported on this Form 5.

SEC source: 0001104659-20-038839 · a4.xml · nonDerivative · entry 2

NUNNELEY MARK · CIK 0001261029 · Chief Accounting Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 742,364

F1 · kind: Represents shares of common stock forfeited to the Issuer to satisfy certain tax-withholding obligations of the Reporting Person arising as a result of the vesting of restricted stock held by the Reporting Person. Represents the closing price of the common stock on March 23, 2020, the last trading day before the date of forfeiture.

F1 · price: Represents shares of common stock forfeited to the Issuer to satisfy certain tax-withholding obligations of the Reporting Person arising as a result of the vesting of restricted stock held by the Reporting Person. Represents the closing price of the common stock on March 23, 2020, the last trading day before the date of forfeiture.

SEC source: 0001104659-20-038837 · a4.xml · nonDerivative · entry 2

KESSLER DOUGLAS A · CIK 0001260655 · CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,479,906

F1 · kind: Represents shares of common stock forfeited to the Issuer to satisfy certain tax-withholding obligations of the Reporting Person arising as a result of the vesting of restricted stock held by the Reporting Person. Represents the closing price of the common stock on March 23, 2020, the last trading day before the date of forfeiture.

F1 · price: Represents shares of common stock forfeited to the Issuer to satisfy certain tax-withholding obligations of the Reporting Person arising as a result of the vesting of restricted stock held by the Reporting Person. Represents the closing price of the common stock on March 23, 2020, the last trading day before the date of forfeiture.

SEC source: 0001104659-20-038835 · a4.xml · nonDerivative · entry 2

Eubanks Deric S · CIK 0001608195 · CFO and Treasurer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 534,966

F1 · kind: Represents shares of common stock forfeited to the Issuer to satisfy certain tax-withholding obligations of the Reporting Person arising as a result of the vesting of restricted stock held by the Reporting Person. Represents the closing price of the common stock on March 23, 2020, the last trading day before the date of forfeiture.

F1 · price: Represents shares of common stock forfeited to the Issuer to satisfy certain tax-withholding obligations of the Reporting Person arising as a result of the vesting of restricted stock held by the Reporting Person. Represents the closing price of the common stock on March 23, 2020, the last trading day before the date of forfeiture.

SEC source: 0001567619-21-001090 · doc1.xml · nonDerivative · entry 4

KESSLER DOUGLAS A · CIK 0001260655 · Former CEO and President

10b5-1 filing: Not disclosed

Ownership: Indirect · By Grant R Kessler 2015 Children's Irrevocable Trust

Disclosed balance after: 50,000

F2 · kind: On March 23, 2020, the reporting person transferred 30,000 shares of the Issuer's common stock to a trust of which the reporting person is a trustee. Members of the reporting person's immediate family are the sole beneficiaries of the trust.

F3 · balance_after: Reflects the number of shares owned as of May 15, 2020 at the time the reporting person ceased to be subject to Section 16 of the Securities Exchange Act of 1934, as amended, and following the transactions reported on this Form 5.

F2 · ownership.nature: On March 23, 2020, the reporting person transferred 30,000 shares of the Issuer's common stock to a trust of which the reporting person is a trustee. Members of the reporting person's immediate family are the sole beneficiaries of the trust.

SEC source: 0001567619-21-001090 · doc1.xml · nonDerivative · entry 3

KESSLER DOUGLAS A · CIK 0001260655 · Former CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 147,990

F2 · kind: On March 23, 2020, the reporting person transferred 30,000 shares of the Issuer's common stock to a trust of which the reporting person is a trustee. Members of the reporting person's immediate family are the sole beneficiaries of the trust.

F3 · balance_after: Reflects the number of shares owned as of May 15, 2020 at the time the reporting person ceased to be subject to Section 16 of the Securities Exchange Act of 1934, as amended, and following the transactions reported on this Form 5.

SEC source: 0001567619-21-001090 · doc1.xml · nonDerivative · entry 2

KESSLER DOUGLAS A · CIK 0001260655 · Former CEO and President

10b5-1 filing: Not disclosed

Ownership: Indirect · By Brianna M Kessler 2015 Children's Irrevocable Trust

Disclosed balance after: 50,000

F2 · kind: On March 23, 2020, the reporting person transferred 30,000 shares of the Issuer's common stock to a trust of which the reporting person is a trustee. Members of the reporting person's immediate family are the sole beneficiaries of the trust.

F3 · balance_after: Reflects the number of shares owned as of May 15, 2020 at the time the reporting person ceased to be subject to Section 16 of the Securities Exchange Act of 1934, as amended, and following the transactions reported on this Form 5.

F2 · ownership.nature: On March 23, 2020, the reporting person transferred 30,000 shares of the Issuer's common stock to a trust of which the reporting person is a trustee. Members of the reporting person's immediate family are the sole beneficiaries of the trust.

SEC source: 0001567619-21-001090 · doc1.xml · nonDerivative · entry 1

KESSLER DOUGLAS A · CIK 0001260655 · Former CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 147,990

F1 · security: On July 15, 2020, the Issuer effected a 1-for-10 reverse stock split of its common stock (the "Reverse Stock Split"). All shares amounts reported on this Form 5 have been retrospectively adjusted to reflect the Reverse Stock Split on a post-split basis.

F2 · kind: On March 23, 2020, the reporting person transferred 30,000 shares of the Issuer's common stock to a trust of which the reporting person is a trustee. Members of the reporting person's immediate family are the sole beneficiaries of the trust.

F3 · balance_after: Reflects the number of shares owned as of May 15, 2020 at the time the reporting person ceased to be subject to Section 16 of the Securities Exchange Act of 1934, as amended, and following the transactions reported on this Form 5.

SEC source: 0001104659-20-036913 · a4.xml · nonDerivative · entry 2

Ansell Benjamin J MD · CIK 0001464574 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Ansell Family Trust

Disclosed balance after: 178,200

SEC source: 0001104659-20-036913 · a4.xml · derivative · entry 4

Ansell Benjamin J MD · CIK 0001464574 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 53,149 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · security: Common Limited Partnership Units of Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary") ("Common Units"). Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F1 · derivative.exercise_price: Common Limited Partnership Units of Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary") ("Common Units"). Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F1 · derivative.exercise_date: Common Limited Partnership Units of Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary") ("Common Units"). Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F2 · derivative.expiration_date: Neither the Common Units nor the LTIP Units (as defined below) have an expiration date.

F1 · derivative.underlying_shares: Common Limited Partnership Units of Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary") ("Common Units"). Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

SEC source: 0001104659-20-036913 · a4.xml · nonDerivative · entry 1

Ansell Benjamin J MD · CIK 0001464574 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 157,554

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001104659-20-038839 · a4.xml · derivative · entry 3

NUNNELEY MARK · CIK 0001261029 · Chief Accounting Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 471,908

Underlying: Common Stock · 200,000 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · security: Common Limited Partnership Units of Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary (the "Subsidiary") ("Common Units"). Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F2 · derivative.exercise_price: Common Limited Partnership Units of Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary (the "Subsidiary") ("Common Units"). Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F2 · derivative.exercise_date: Common Limited Partnership Units of Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary (the "Subsidiary") ("Common Units"). Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F3 · derivative.expiration_date: The Common Units do not have an expiration date.

F2 · derivative.underlying_shares: Common Limited Partnership Units of Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary (the "Subsidiary") ("Common Units"). Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F4 · balance_after: Reflects aggregate number of Common Units currently held by the Reporting Person, some of which have been converted from special long-term incentive partnership units of the Subsidiary by the Reporting Person. See Footnote 2 discussing the convertibility of the Common Units.

SEC source: 0001104659-20-038839 · a4.xml · nonDerivative · entry 1

NUNNELEY MARK · CIK 0001261029 · Chief Accounting Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 747,965

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001104659-20-038837 · a4.xml · derivative · entry 3

KESSLER DOUGLAS A · CIK 0001260655 · CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 1,109,780 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · security: Common Limited Partnership Units of Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary (the "Subsidiary") ("Common Units"). Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F2 · derivative.exercise_price: Common Limited Partnership Units of Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary (the "Subsidiary") ("Common Units"). Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F2 · derivative.exercise_date: Common Limited Partnership Units of Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary (the "Subsidiary") ("Common Units"). Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F3 · derivative.expiration_date: The Common Units do not expire.

F2 · derivative.underlying_shares: Common Limited Partnership Units of Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary (the "Subsidiary") ("Common Units"). Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F4 · balance_after: Reflects the aggregate number of Common Units currently held by the Reporting Person, some of which may have been converted from special long-term incentive partnership units of the Subsidiary by the Reporting Person since the Reporting Person's most recent Form 4 or Form 5 filing. See Footnote 2 discussing the convertibility of the Common Units.

SEC source: 0001104659-20-038837 · a4.xml · nonDerivative · entry 1

KESSLER DOUGLAS A · CIK 0001260655 · CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,502,598

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001104659-20-038835 · a4.xml · derivative · entry 4

Eubanks Deric S · CIK 0001608195 · CFO and Treasurer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 111,693

Underlying: Common Stock · 27,923 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · security: Common Limited Partnership Units of the Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary (the "Subsidiary") ("Common Units"). Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F2 · derivative.exercise_price: Common Limited Partnership Units of the Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary (the "Subsidiary") ("Common Units"). Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F2 · derivative.exercise_date: Common Limited Partnership Units of the Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary (the "Subsidiary") ("Common Units"). Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F3 · derivative.expiration_date: The Common Units do not have an expiration date.

F2 · derivative.underlying_shares: Common Limited Partnership Units of the Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary (the "Subsidiary") ("Common Units"). Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

F4 · balance_after: Reflects aggregate number of Common Units currently held by the Reporting Person, some of which may have been converted from special long-term incentive partnership units of the Subsidiary by the Reporting Person since the Reporting Person's most recent Form 4 or Form 5 filing. See Footnote 2 discussing the convertibility of the Common Units.

SEC source: 0001104659-20-038835 · a4.xml · nonDerivative · entry 1

Eubanks Deric S · CIK 0001608195 · CFO and Treasurer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 543,407

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001104659-20-034775 · a4.xml · nonDerivative · entry 1

KESSLER DOUGLAS A · CIK 0001260655 · CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,392,818

F1 · kind: Represents shares of common stock forfeited to the Issuer to satisfy certain tax-withholding obligations of the Reporting Person arising as a result of the vesting of restricted stock held by the Reporting Person. Represents the closing price of the common stock on March 12, 2020, the last trading day before the date of forfeiture.

F1 · price: Represents shares of common stock forfeited to the Issuer to satisfy certain tax-withholding obligations of the Reporting Person arising as a result of the vesting of restricted stock held by the Reporting Person. Represents the closing price of the common stock on March 12, 2020, the last trading day before the date of forfeiture.

SEC source: 0001104659-20-034777 · a4.xml · nonDerivative · entry 1

NUNNELEY MARK · CIK 0001261029 · Chief Accounting Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 547,965

F1 · kind: Represents shares of common stock forfeited to the Issuer to satisfy certain tax-withholding obligations of the Reporting Person arising as a result of the vesting of restricted stock held by the Reporting Person. Represents the closing price of the common stock on March 12, 2020, the last trading day before the date of forfeiture.

F1 · price: Represents shares of common stock forfeited to the Issuer to satisfy certain tax-withholding obligations of the Reporting Person arising as a result of the vesting of restricted stock held by the Reporting Person. Represents the closing price of the common stock on March 12, 2020, the last trading day before the date of forfeiture.

SEC source: 0001104659-20-034772 · a4.xml · nonDerivative · entry 1

Eubanks Deric S · CIK 0001608195 · CFO and Treasurer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 515,484

F1 · kind: Represents shares of common stock forfeited to the Issuer to satisfy certain tax-withholding obligations of the Reporting Person arising as a result of the vesting of restricted stock held by the Reporting Person. Represents the closing price of the common stock on March 12, 2020, the last trading day before the date of forfeiture.

F1 · price: Represents shares of common stock forfeited to the Issuer to satisfy certain tax-withholding obligations of the Reporting Person arising as a result of the vesting of restricted stock held by the Reporting Person. Represents the closing price of the common stock on March 12, 2020, the last trading day before the date of forfeiture.