AHT

SEC source: 0001104659-19-012460 · a4.xml · derivative · entry 3

Welter Jeremy · CIK 0001516834 · Chief Operating Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 450,182

Underlying: Common Stock · 450,182 shares

Expires not disclosed

F4 · security: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 11 discussing the convertibility of the Common Units.

F4 · derivative.exercise_price: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 11 discussing the convertibility of the Common Units.

F2 · kind: The Reporting Person received the Performance Stock Units, LTIP Units (as defined below) and Performance LTIP Units (as defined below) awards reported herein under the Issuer's 2011 Stock Incentive Plan.

F4 · shares: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 11 discussing the convertibility of the Common Units.

F7 · price: Per newly acquired LTIP Unit and Performance LTIP Unit purchase price.

F5 · derivative.exercise_date: The LTIP Units acquired by the Reporting Person, as reported herein, vest in three (3) substantially equal installments on the first three (3) anniversaries of the date of grant. See Footnote 4 discussing the convertibility of vested LTIP Units.

F6 · derivative.expiration_date: Neither the Common Units nor the LTIP Units have an expiration date.

F4 · derivative.underlying_shares: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 11 discussing the convertibility of the Common Units.

F8 · balance_after: Reflects the aggregate number of LTIP Units held directly or indirectly by the Reporting Person following the LTIP Units award reported herein, and includes LTIP Units comprising awards previously granted to, and reported by, the Reporting Person. Such LTIP Units have different grant and vesting dates and include those which (i) may have achieved parity with the Common Units, (ii) have not yet achieved parity with the Common Units, (iii) are currently vested, or (iv) have not yet vested. Such LTIP Units have been combined herein solely for reporting purposes.

SEC source: 0001104659-19-012460 · a4.xml · derivative · entry 2

Welter Jeremy · CIK 0001516834 · Chief Operating Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 107,415

Underlying: Common Stock · 107,415 shares

Expires 2021-12-31

F1 · security: Each performance stock unit ("Performance Stock Unit") award represents a right to receive between zero and two shares of the Issuer's common stock if and when the applicable vesting criteria have been achieved.

F2 · security: The Reporting Person received the Performance Stock Units, LTIP Units (as defined below) and Performance LTIP Units (as defined below) awards reported herein under the Issuer's 2011 Stock Incentive Plan.

F1 · derivative.exercise_price: Each performance stock unit ("Performance Stock Unit") award represents a right to receive between zero and two shares of the Issuer's common stock if and when the applicable vesting criteria have been achieved.

F2 · kind: The Reporting Person received the Performance Stock Units, LTIP Units (as defined below) and Performance LTIP Units (as defined below) awards reported herein under the Issuer's 2011 Stock Incentive Plan.

F3 · shares: Represents the target amount of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 13, 2021 (with respect to the 2018 Performance Stock Units award) and on December 31, 2021 (with respect to the 2019 Performance Stock Units award).

F2 · price: The Reporting Person received the Performance Stock Units, LTIP Units (as defined below) and Performance LTIP Units (as defined below) awards reported herein under the Issuer's 2011 Stock Incentive Plan.

F3 · derivative.underlying_shares: Represents the target amount of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 13, 2021 (with respect to the 2018 Performance Stock Units award) and on December 31, 2021 (with respect to the 2019 Performance Stock Units award).

F3 · balance_after: Represents the target amount of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 13, 2021 (with respect to the 2018 Performance Stock Units award) and on December 31, 2021 (with respect to the 2019 Performance Stock Units award).

SEC source: 0001567619-19-005257 · doc1.xml · nonDerivative · entry 1

KESSLER DOUGLAS A · CIK 0001260655 · CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,069,240

F1 · shares: 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 February 20, 2019, on the date of forfeiture.

SEC source: 0001567619-18-000181 · doc1.xml · nonDerivative · entry 1

Ansell Benjamin J MD · CIK 0001464574 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 67,800

F1 · price: Reflects the weighted average purchase price for the reported transactions. The shares were purchased in multiple transactions at prices ranging from $6.47 to $6.70, 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.

SEC source: 0001140361-18-031806 · doc1.xml · nonDerivative · entry 2

TALLIS ALAN · CIK 0001187669 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Tallis Family Revocable Trust, Alan L. Tallis and Shirley A. Tallis, Trustees

Disclosed balance after: 228,045

F1 · kind: The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.

F3 · price: Reflects the weighted average sales price for the reported transactions. The shares were sold in multiple transactions at prices ranging from $8.5000 to $8.5100, 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 sold at each separate price within the range specified.

SEC source: 0001140361-18-031806 · doc1.xml · nonDerivative · entry 1

TALLIS ALAN · CIK 0001187669 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Tallis Family Revocable Trust, Alan L. Tallis and Shirley A. Tallis, Trustees

Disclosed balance after: 237,145

F1 · kind: The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.

F2 · price: Reflects the weighted average sales price for the reported transactions. The shares were sold in multiple transactions at prices ranging from $8.2500 to $8.5000, 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 sold at each separate price within the range specified.

SEC source: 0001140361-18-031258 · doc1.xml · nonDerivative · entry 1

TALLIS ALAN · CIK 0001187669 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Tallis Family Revocable Trust, Alan L. Tallis and Shirley A. Tallis, Trustees

Disclosed balance after: 248,045

F1 · kind: The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.

F2 · price: Reflects the weighted average sales price for the reported transactions. The shares were sold in multiple transactions at prices ranging from $8.0000 to $8.0300, 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 sold at each separate price within the range specified.

SEC source: 0001140361-18-029339 · doc1.xml · derivative · entry 4

Ansell Benjamin J MD · CIK 0001464574 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,700

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 5 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 5 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.

F4 · price: Per LTIP Unit purchase price.

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 5 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 5 discussing the convertibility of Common Units.

F1 · derivative.underlying_shares: 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 5 discussing the convertibility of Common Units.

F6 · balance_after: Includes adjustment from number of units previously reported from 16,151 to 14,861 to give effect to the adoption of Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017 (the "Subsidiary Agreement Amendment"), which was adopted for the purpose of creating additional common partnership units of the Subsidiary and the recapitalization of the Common Units so that the Conversion Factor (as defined in the Subsidiary Agreement Amendment) became 1.0.

SEC source: 0001140361-18-029337 · doc1.xml · derivative · entry 2

KLEISNER FRED J · CIK 0001286494 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,700

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 5 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 5 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.

F4 · price: Per LTIP Unit purchase price.

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 5 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 5 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 based on a conversion ratio described in the Subsidiary Agreement Amendment (as defined below), which, on June 18, 2018, was 1.0 shares of the Issuer's common stock for each Common Unit.

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 based on a conversion ratio described in the Subsidiary Agreement Amendment (as defined below), which, on June 18, 2018, was 1.0 shares of the Issuer's common stock for each Common Unit.

F6 · balance_after: Includes adjustment from number of units previously reported from 16,151 to 14,861 to give effect to the adoption of Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017 (the "Subsidiary Agreement Amendment"), which was adopted for the purpose of creating additional common partnership units of the Subsidiary and the recapitalization of the Common Units so that the Conversion Factor (as defined in the Subsidiary Agreement Amendment) became 1.0.

SEC source: 0001140361-18-029338 · doc1.xml · derivative · entry 4

TALLIS ALAN · CIK 0001187669 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,700

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 5 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 5 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.

F4 · price: Per LTIP Unit purchase price.

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 5 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 5 discussing the convertibility of Common Units.

F1 · derivative.underlying_shares: 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 5 discussing the convertibility of Common Units.

F6 · balance_after: Includes adjustment from number of units previously reported from 16,151 to 14,861 to give effect to the adoption of Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017 (the "Subsidiary Agreement Amendment"), which was adopted for the purpose of creating additional common partnership units of the Subsidiary and the recapitalization of the Common Units so that the Conversion Factor (as defined in the Subsidiary Agreement Amendment) became 1.0.

SEC source: 0001140361-18-029335 · doc1.xml · derivative · entry 2

Jafarnia Kamal · CIK 0001568076 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,700

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 5 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 5 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.

F4 · price: Per LTIP Unit purchase price.

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 5 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 5 discussing the convertibility of Common Units.

F1 · derivative.underlying_shares: 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 5 discussing the convertibility of Common Units.

F6 · balance_after: Includes adjustment from number of units previously reported from 16,151 to 14,861 to give effect to the adoption of Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017 (the "Subsidiary Agreement Amendment"), which was adopted for the purpose of creating additional common partnership units of the Subsidiary and the recapitalization of the Common Units so that the Conversion Factor (as defined in the Subsidiary Agreement Amendment) became 1.0.

SEC source: 0001140361-18-029334 · doc1.xml · derivative · entry 1

Gupta Amish · CIK 0001608286 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 60,927

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 5 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 5 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.

F4 · price: Per LTIP Unit purchase price.

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 5 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 5 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 based on a conversion ratio described in the Subsidiary Agreement Amendment (as defined below), which, on June 18, 2018, was 1.0 shares of the Issuer's common stock for each Common Unit.

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 based on a conversion ratio described in the Subsidiary Agreement Amendment (as defined below), which, on June 18, 2018, was 1.0 shares of the Issuer's common stock for each Common Unit.

F6 · balance_after: Includes adjustment from number of units previously reported from 52,262 to 48,088 to give effect to the adoption of Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017 (the "Subsidiary Agreement Amendment"), which was adopted for the purpose of creating additional common partnership units of the Subsidiary and the recapitalization of the Common Units so that the Conversion Factor (as defined in the Subsidiary Agreement Amendment) became 1.0.

SEC source: 0001140361-18-029940 · doc1.xml · derivative · entry 1

PANTERMUEHL SHERI L · CIK 0001314182 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 12,839

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 5 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 5 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 election to the Issuer's Board of Directors.

F4 · price: Per LTIP Unit purchase price.

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 5 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 5 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 based on a conversion ratio described in the Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017, which, on June 18, 2018, was 1.0 shares of the Issuer's common stock for each Common Unit.

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 based on a conversion ratio described in the Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017, which, on June 18, 2018, was 1.0 shares of the Issuer's common stock for each Common Unit.

SEC source: 0001104659-18-022239 · a4.xml · nonDerivative · entry 1

KESSLER DOUGLAS A · CIK 0001260655 · CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,098,608

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 29, 2018, 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 29, 2018, the last trading day before the date of forfeiture.

SEC source: 0001104659-18-022240 · a4.xml · nonDerivative · entry 1

NUNNELEY MARK · CIK 0001261029 · Chief Accounting Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 417,920

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 29, 2018, 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 29, 2018, the last trading day before the date of forfeiture.

SEC source: 0001104659-18-022238 · a4.xml · nonDerivative · entry 1

Eubanks Deric S · CIK 0001608195 · CFO and Treasurer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 350,981

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 29, 2018, 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 29, 2018, the last trading day before the date of forfeiture.

SEC source: 0001104659-18-020412 · a4.xml · nonDerivative · entry 1

BROOKS DAVID A · CIK 0001260555 · CTO, GC and Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 814,080

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, 2018, 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, 2018, the date of forfeiture.

SEC source: 0001104659-18-020416 · a4.xml · nonDerivative · entry 1

KESSLER DOUGLAS A · CIK 0001260655 · CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,114,535

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, 2018, 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, 2018, the date of forfeiture.

SEC source: 0001104659-18-020447 · a4.xml · nonDerivative · entry 1

NUNNELEY MARK · CIK 0001261029 · Chief Accounting Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 421,502

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, 2018, 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, 2018, the date of forfeiture.

SEC source: 0001104659-18-020415 · a4.xml · nonDerivative · entry 1

Eubanks Deric S · CIK 0001608195 · CFO and Treasurer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 361,697

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, 2018, 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, 2018, the date of forfeiture.

SEC source: 0001104659-18-019663 · a4.xml · nonDerivative · entry 1

BROOKS DAVID A · CIK 0001260555 · CTO, GC and Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 823,130

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 20, 2018, 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 20, 2018, the date of forfeiture.

SEC source: 0001104659-18-019620 · a4.xml · nonDerivative · entry 1

KESSLER DOUGLAS A · CIK 0001260655 · CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,137,226

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 20, 2018, 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 20, 2018, the date of forfeiture.

SEC source: 0001104659-18-019662 · a4.xml · nonDerivative · entry 1

NUNNELEY MARK · CIK 0001261029 · Chief Accounting Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 427,102

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 20, 2018, 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 20, 2018, the date of forfeiture.

SEC source: 0001104659-18-019661 · a4.xml · nonDerivative · entry 1

Eubanks Deric S · CIK 0001608195 · CFO and Treasurer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 375,338

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 20, 2018, 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 20, 2018, the date of forfeiture.

SEC source: 0001104659-18-019619 · a4.xml · nonDerivative · entry 1

Hays J Robison III · CIK 0001623909 · Chief Strategy Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 125,977

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 20, 2018, 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 20, 2018, the date of forfeiture.

SEC source: 0001104659-18-018450 · a4.xml · derivative · entry 2

BROOKS DAVID A · CIK 0001260555 · COO, General Counsel and Sec.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 96,154

Underlying: Common Stock · Not disclosed shares

Expires 2021-03-14

F2 · security: Each performance stock unit ("Performance Stock Unit") award represents a right to receive between zero and two shares of the Issuer's common stock if and when the applicable vesting criteria have been achieved.

F2 · derivative.exercise_price: Each performance stock unit ("Performance Stock Unit") award represents a right to receive between zero and two shares of the Issuer's common stock if and when the applicable vesting criteria have been achieved.

F3 · kind: Represents a stock grant from the Issuer under the Issuer's 2011 Stock Incentive Plan.

F4 · shares: Represents the target number of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the target number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 31, 2019 (with respect to the 2016 Performance Stock Units award), March 24, 2020 (with respect to the 2017 Performance Stock Units award), and March 14, 2021 (with respect to the 2018 Performance Stock Units award).

F3 · price: Represents a stock grant from the Issuer under the Issuer's 2011 Stock Incentive Plan.

F4 · derivative.underlying_shares: Represents the target number of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the target number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 31, 2019 (with respect to the 2016 Performance Stock Units award), March 24, 2020 (with respect to the 2017 Performance Stock Units award), and March 14, 2021 (with respect to the 2018 Performance Stock Units award).

F4 · balance_after: Represents the target number of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the target number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 31, 2019 (with respect to the 2016 Performance Stock Units award), March 24, 2020 (with respect to the 2017 Performance Stock Units award), and March 14, 2021 (with respect to the 2018 Performance Stock Units award).

SEC source: 0001104659-18-018450 · a4.xml · nonDerivative · entry 1

BROOKS DAVID A · CIK 0001260555 · COO, General Counsel and Sec.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 836,039

F1 · kind: The Reporting Person received the shares pursuant to a stock grant from the Issuer under the Issuer's 2011 Stock Incentive Plan. Such shares vest in three (3) substantially equal installments on the first three anniversaries of the date of grant.

F1 · price: The Reporting Person received the shares pursuant to a stock grant from the Issuer under the Issuer's 2011 Stock Incentive Plan. Such shares vest in three (3) substantially equal installments on the first three anniversaries of the date of grant.

SEC source: 0001104659-18-018454 · a4.xml · derivative · entry 2

KESSLER DOUGLAS A · CIK 0001260655 · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 200,321

Underlying: Common Stock · Not disclosed shares

Expires 2021-03-14

F2 · security: Each performance stock unit ("Performance Stock Unit") award represents a right to receive between zero and two shares of the Issuer's common stock if and when the applicable vesting criteria have been achieved.

F2 · derivative.exercise_price: Each performance stock unit ("Performance Stock Unit") award represents a right to receive between zero and two shares of the Issuer's common stock if and when the applicable vesting criteria have been achieved.

F3 · kind: The Reporting Person received the Performance Stock Units pursuant to a grant from the Issuer under the Issuer's 2011 Stock Incentive Plan.

F4 · shares: Represents the target number of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the target number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 31, 2019 (with respect to the 2016 Performance Stock Units award), March 24, 2020 (with respect to the 2017 Performance Stock Units award), and March 14, 2021 (with respect to the 2018 Performance Stock Units award).

F3 · price: The Reporting Person received the Performance Stock Units pursuant to a grant from the Issuer under the Issuer's 2011 Stock Incentive Plan.

F4 · derivative.underlying_shares: Represents the target number of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the target number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 31, 2019 (with respect to the 2016 Performance Stock Units award), March 24, 2020 (with respect to the 2017 Performance Stock Units award), and March 14, 2021 (with respect to the 2018 Performance Stock Units award).

F4 · balance_after: Represents the target number of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the target number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 31, 2019 (with respect to the 2016 Performance Stock Units award), March 24, 2020 (with respect to the 2017 Performance Stock Units award), and March 14, 2021 (with respect to the 2018 Performance Stock Units award).

SEC source: 0001104659-18-018454 · a4.xml · nonDerivative · entry 1

KESSLER DOUGLAS A · CIK 0001260655 · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,172,083

F1 · kind: The Reporting Person received the shares pursuant to a stock grant from the Issuer under the Issuer's 2011 Stock Incentive Plan. Such shares vest in three (3) substantially equal installments on the first three anniversaries of the date of grant.

F1 · price: The Reporting Person received the shares pursuant to a stock grant from the Issuer under the Issuer's 2011 Stock Incentive Plan. Such shares vest in three (3) substantially equal installments on the first three anniversaries of the date of grant.

SEC source: 0001104659-18-018452 · a4.xml · derivative · entry 5

Bennett Monty J · CIK 0001260654 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,269,221

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F4 · security: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 9 discussing the convertibility of the Common Units.

F4 · derivative.exercise_price: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 9 discussing the convertibility of the Common Units.

F2 · kind: The Reporting Person received the LTIP Units and Performance LTIP Units awards reported herein under the Issuer's 2011 Stock Incentive Plan.

F4 · shares: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 9 discussing the convertibility of the Common Units.

F5 · price: Per LTIP Unit purchase price.

F6 · derivative.exercise_date: The LTIP Units reported herein vest in three (3) substantially equal installments on the first three (3) anniversaries of the date of grant. See Footnote 4 discussing the convertibility of Vested LTIP Units.

F7 · derivative.expiration_date: Neither the Common Units nor the LTIP Units have an expiration date.

F4 · derivative.underlying_shares: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 9 discussing the convertibility of the Common Units.

F8 · balance_after: Reflects adjustment from number of units previously reported to give effect to the adoption of Amendment No. 5 to the Seventh Amended and Restated Agreement of Limited Partnership of the Subsidiary (the "Subsidiary Agreement Amendment"), which was adopted for the purpose of creating additional common partnership units of the Subsidiary and the recapitalization of the common partnership units so that the Conversion Factor (as defined in the Subsidiary Agreement Amendment) became 1.0

F9 · balance_after: Reflects the aggregate number of LTIP Units held directly or indirectly by the Reporting Person following the LTIP Units award reported herein, and includes LTIP Units comprising awards previously granted to, and reported by, the Reporting Person. Such LTIP Units have different grant and vesting dates and include those which (i) may have achieved parity with the Common Units, (ii) have not yet achieved parity with the Common Units, (iii) are currently vested, or (iv) have not yet vested. Such LTIP Units have been combined herein solely for reporting purposes.

SEC source: 0001104659-18-018452 · a4.xml · derivative · entry 4

Bennett Monty J · CIK 0001260654 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 400,641

Underlying: Common Stock · 400,641 shares

Expires 2021-03-14

F1 · security: Each performance LTIP unit ("Performance LTIP Unit") award represents an LTIP Unit (as defined below) subject to specified performance-based vesting criteria.

F1 · derivative.exercise_price: Each performance LTIP unit ("Performance LTIP Unit") award represents an LTIP Unit (as defined below) subject to specified performance-based vesting criteria.

F2 · kind: The Reporting Person received the LTIP Units and Performance LTIP Units awards reported herein under the Issuer's 2011 Stock Incentive Plan.

F3 · shares: Represents the maximum number of LTIP Units that may vest pursuant to such award of Performance LTIP Units, which is 200% of the target number of LTIP Units. The actual number of Performance LTIP Units that may vest can range from 0% to 200% of the target number of Performance LTIP Units, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder return, the Performance LTIP Units, will generally vest on December 31, 2019 (with respect to the 2016 Performance LTIP Unit award), March 23, 2020 (with respect to the 2017 Performance LTIP Unit award), and March 13, 2021 (with respect to the 2018 Performance LTIP Unit award). See Footnote 4 discussing the convertibility of Vested LTIP Units.

F5 · price: Per LTIP Unit purchase price.

F3 · derivative.underlying_shares: Represents the maximum number of LTIP Units that may vest pursuant to such award of Performance LTIP Units, which is 200% of the target number of LTIP Units. The actual number of Performance LTIP Units that may vest can range from 0% to 200% of the target number of Performance LTIP Units, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder return, the Performance LTIP Units, will generally vest on December 31, 2019 (with respect to the 2016 Performance LTIP Unit award), March 23, 2020 (with respect to the 2017 Performance LTIP Unit award), and March 13, 2021 (with respect to the 2018 Performance LTIP Unit award). See Footnote 4 discussing the convertibility of Vested LTIP Units.

F4 · derivative.underlying_shares: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 9 discussing the convertibility of the Common Units.

F3 · balance_after: Represents the maximum number of LTIP Units that may vest pursuant to such award of Performance LTIP Units, which is 200% of the target number of LTIP Units. The actual number of Performance LTIP Units that may vest can range from 0% to 200% of the target number of Performance LTIP Units, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder return, the Performance LTIP Units, will generally vest on December 31, 2019 (with respect to the 2016 Performance LTIP Unit award), March 23, 2020 (with respect to the 2017 Performance LTIP Unit award), and March 13, 2021 (with respect to the 2018 Performance LTIP Unit award). See Footnote 4 discussing the convertibility of Vested LTIP Units.

F4 · balance_after: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 9 discussing the convertibility of the Common Units.

SEC source: 0001104659-18-018448 · a4.xml · derivative · entry 2

NUNNELEY MARK · CIK 0001261029 · Chief Accounting Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 48,077

Underlying: Common Stock · Not disclosed shares

Expires 2021-03-14

F2 · security: Each performance stock unit ("Performance Stock Unit") award represents a right to receive between zero and two shares of the Issuer's common stock if and when the applicable vesting criteria have been achieved.

F2 · derivative.exercise_price: Each performance stock unit ("Performance Stock Unit") award represents a right to receive between zero and two shares of the Issuer's common stock if and when the applicable vesting criteria have been achieved.

F3 · kind: Represents a stock grant from the Issuer under the Issuer's 2011 Stock Incentive Plan.

F4 · shares: Represents the target number of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the target number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 31, 2019 (with respect to the 2016 Performance Stock Units award), March 24, 2020 (with respect to the 2017 Performance Stock Units award), and March 14, 2021 (with respect to the 2018 Performance Stock Units award).

F3 · price: Represents a stock grant from the Issuer under the Issuer's 2011 Stock Incentive Plan.

F2 · derivative.underlying: Each performance stock unit ("Performance Stock Unit") award represents a right to receive between zero and two shares of the Issuer's common stock if and when the applicable vesting criteria have been achieved.

F4 · derivative.underlying_shares: Represents the target number of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the target number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 31, 2019 (with respect to the 2016 Performance Stock Units award), March 24, 2020 (with respect to the 2017 Performance Stock Units award), and March 14, 2021 (with respect to the 2018 Performance Stock Units award).

F4 · balance_after: Represents the target number of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the target number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 31, 2019 (with respect to the 2016 Performance Stock Units award), March 24, 2020 (with respect to the 2017 Performance Stock Units award), and March 14, 2021 (with respect to the 2018 Performance Stock Units award).

SEC source: 0001104659-18-018448 · a4.xml · nonDerivative · entry 1

NUNNELEY MARK · CIK 0001261029 · Chief Accounting Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 435,090

F1 · kind: The Reporting Person received the shares pursuant to a stock grant from the Issuer under the Issuer's 2011 Stock Incentive Plan. Such shares vest in three (3) substantially equal installments on the first three anniversaries of the date of grant.

F1 · price: The Reporting Person received the shares pursuant to a stock grant from the Issuer under the Issuer's 2011 Stock Incentive Plan. Such shares vest in three (3) substantially equal installments on the first three anniversaries of the date of grant.

SEC source: 0001104659-18-018451 · a4.xml · derivative · entry 3

Welter Jeremy · CIK 0001516834 · Executive VP-Asset Mgmt.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 453,131

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F4 · derivative.exercise_price: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 9 discussing the convertibility of the Common Units.

F2 · kind: The Reporting Person received the Performance Stock Units, LTIP Units and Performance LTIP Units awards reported herein under the Issuer's 2011 Stock Incentive Plan.

F4 · shares: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 9 discussing the convertibility of the Common Units.

F7 · price: Per newly acquired LTIP Unit and Performance LTIP Unit purchase price.

F5 · derivative.exercise_date: The LTIP Units acquired by the Reporting Person, as reported herein, vest in three (3) substantially equal installments on the first three (3) anniversaries of the date of grant. See Footnote 4 discussing the convertibility of Vested LTIP Units.

F6 · derivative.expiration_date: Neither the Common Units nor the LTIP Units have an expiration date.

F4 · derivative.underlying_shares: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 9 discussing the convertibility of the Common Units.

F8 · balance_after: Reflects the aggregate number of LTIP Units held directly or indirectly by the Reporting Person following the LTIP Units award reported herein, and includes LTIP Units comprising awards previously granted to, and reported by, the Reporting Person. Such LTIP Units have different grant and vesting dates and include those which (i) may have achieved parity with the Common Units, (ii) have not yet achieved parity with the Common Units, (iii) are currently vested, or (iv) have not yet vested. Such LTIP Units have been combined herein solely for reporting purposes.

SEC source: 0001104659-18-018451 · a4.xml · derivative · entry 2

Welter Jeremy · CIK 0001516834 · Executive VP-Asset Mgmt.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 90,545

Underlying: Common Stock · Not disclosed shares

Expires 2021-03-14

F1 · derivative.exercise_price: Each performance stock unit ("Performance Stock Unit") award represents a right to receive between zero and two shares of the Issuer's common stock if and when the applicable vesting criteria have been achieved.

F2 · kind: The Reporting Person received the Performance Stock Units, LTIP Units and Performance LTIP Units awards reported herein under the Issuer's 2011 Stock Incentive Plan.

F3 · shares: Represents the target amount of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 14, 2021 (with respect to the 2018 Performance Stock Units award).

F2 · price: The Reporting Person received the Performance Stock Units, LTIP Units and Performance LTIP Units awards reported herein under the Issuer's 2011 Stock Incentive Plan.

F3 · derivative.underlying_shares: Represents the target amount of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 14, 2021 (with respect to the 2018 Performance Stock Units award).

F3 · balance_after: Represents the target amount of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 14, 2021 (with respect to the 2018 Performance Stock Units award).

SEC source: 0001104659-18-018447 · a4.xml · derivative · entry 3

Hays J Robison III · CIK 0001623909 · Chief Strategy Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 326,611

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F4 · security: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 9 discussing the convertibility of the Common Units.

F4 · derivative.exercise_price: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 9 discussing the convertibility of the Common Units.

F2 · kind: The Reporting Person received the LTIP Units and Performance LTIP Units awards reported herein under the Issuer's 2011 Stock Incentive Plan.

F4 · shares: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 9 discussing the convertibility of the Common Units.

F5 · price: Per newly acquired LTIP Unit purchase price.

F6 · derivative.exercise_date: The LTIP Units acquired by the Reporting Person, as reported herein, vest in three (3) substantially equal installments on the first three (3) anniversaries of the date of grant. See Footnote 4 discussing the convertibility of Vested LTIP Units.

F7 · derivative.expiration_date: Neither the Common Units nor the LTIP Units have an expiration date.

F4 · derivative.underlying_shares: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 9 discussing the convertibility of the Common Units.

F8 · balance_after: Reflects adjustment from number of units previously reported to give effect to the adoption of Amendment No. 5 to the Seventh Amended and Restated Agreement of Limited Partnership of the Subsidiary (the "Subsidiary Agreement Amendment"), which was adopted for the purpose of creating additional common partnership units of the Subsidiary and the recapitalization of the common partnership units so that the Conversion Factor (as defined in the Subsidiary Agreement Amendment) became 1.0

F9 · balance_after: Reflects the aggregate number of LTIP Units held directly or indirectly by the Reporting Person following the LTIP Units award reported herein, and includes LTIP Units comprising awards previously granted to, and reported by, the Reporting Person. Such LTIP Units have different grant and vesting dates and include those which (i) may have achieved parity with the Common Units, (ii) have not yet achieved parity with the Common Units, (iii) are currently vested, or (iv) have not yet vested. Such LTIP Units have been combined herein solely for reporting purposes.

SEC source: 0001104659-18-018447 · a4.xml · derivative · entry 2

Hays J Robison III · CIK 0001623909 · Chief Strategy Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 181,090

Underlying: Common Stock · 181,090 shares

Expires 2021-03-14

F1 · security: Each performance LTIP unit ("Performance LTIP Unit") award represents an LTIP Unit (as defined below) subject to specified performance-based vesting criteria.

F1 · derivative.exercise_price: Each performance LTIP unit ("Performance LTIP Unit") award represents an LTIP Unit (as defined below) subject to specified performance-based vesting criteria.

F2 · kind: The Reporting Person received the LTIP Units and Performance LTIP Units awards reported herein under the Issuer's 2011 Stock Incentive Plan.

F3 · shares: Represents the maximum number of LTIP Units that may vest pursuant to such award of Performance LTIP Units, which is 200% of the target number of LTIP Units. The actual number of Performance LTIP Units that may vest can range from 0% to 200% of the target number of Performance LTIP Units, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder return, the Performance LTIP Units, will generally vest on March 31, 2019 (with respect to the 2016 Performance LTIP Unit award), March 24, 2020 (with respect to the 2017 Performance LTIP Unit award), and March 14, 2021(with respect to the 2018 Performance LTIP Unit award). See Footnote 4 discussing the convertibility of Vested LTIP Units.

F5 · price: Per newly acquired LTIP Unit purchase price.

F3 · derivative.underlying_shares: Represents the maximum number of LTIP Units that may vest pursuant to such award of Performance LTIP Units, which is 200% of the target number of LTIP Units. The actual number of Performance LTIP Units that may vest can range from 0% to 200% of the target number of Performance LTIP Units, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder return, the Performance LTIP Units, will generally vest on March 31, 2019 (with respect to the 2016 Performance LTIP Unit award), March 24, 2020 (with respect to the 2017 Performance LTIP Unit award), and March 14, 2021(with respect to the 2018 Performance LTIP Unit award). See Footnote 4 discussing the convertibility of Vested LTIP Units.

F4 · derivative.underlying_shares: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 9 discussing the convertibility of the Common Units.

F3 · balance_after: Represents the maximum number of LTIP Units that may vest pursuant to such award of Performance LTIP Units, which is 200% of the target number of LTIP Units. The actual number of Performance LTIP Units that may vest can range from 0% to 200% of the target number of Performance LTIP Units, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder return, the Performance LTIP Units, will generally vest on March 31, 2019 (with respect to the 2016 Performance LTIP Unit award), March 24, 2020 (with respect to the 2017 Performance LTIP Unit award), and March 14, 2021(with respect to the 2018 Performance LTIP Unit award). See Footnote 4 discussing the convertibility of Vested LTIP Units.

F4 · balance_after: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 9 discussing the convertibility of the Common Units.

SEC source: 0001104659-18-018449 · a4.xml · derivative · entry 3

Eubanks Deric S · CIK 0001608195 · CFO and Treasurer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 90,545

Underlying: Common Stock · Not disclosed shares

Expires 2021-03-14

F2 · security: Each performance stock unit ("Performance Stock Unit") award represents a right to receive between zero and two shares of the Issuer's common stock if and when the applicable vesting criteria have been achieved.

F2 · derivative.exercise_price: Each performance stock unit ("Performance Stock Unit") award represents a right to receive between zero and two shares of the Issuer's common stock if and when the applicable vesting criteria have been achieved.

F3 · kind: Represents a stock grant from the Issuer under the Issuer's 2011 Stock Incentive Plan.

F4 · shares: Represents the target number of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the target number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 31, 2019 (with respect to the 2016 Performance Stock Units award), March 24, 2020 (with respect to the 2017 Performance Stock Units award), and March 14, 2021 (with respect to the 2018 Performance Stock Units award).

F3 · price: Represents a stock grant from the Issuer under the Issuer's 2011 Stock Incentive Plan.

F2 · derivative.underlying: Each performance stock unit ("Performance Stock Unit") award represents a right to receive between zero and two shares of the Issuer's common stock if and when the applicable vesting criteria have been achieved.

F4 · derivative.underlying_shares: Represents the target number of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the target number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 31, 2019 (with respect to the 2016 Performance Stock Units award), March 24, 2020 (with respect to the 2017 Performance Stock Units award), and March 14, 2021 (with respect to the 2018 Performance Stock Units award).

F4 · balance_after: Represents the target number of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the target number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 31, 2019 (with respect to the 2016 Performance Stock Units award), March 24, 2020 (with respect to the 2017 Performance Stock Units award), and March 14, 2021 (with respect to the 2018 Performance Stock Units award).

SEC source: 0001104659-18-018449 · a4.xml · nonDerivative · entry 1

Eubanks Deric S · CIK 0001608195 · CFO and Treasurer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 382,255

F1 · kind: The Reporting Person received the shares pursuant to a stock grant from the Issuer under the Issuer's 2011 Stock Incentive Plan. Such shares vest in three (3) substantially equal installments on the first three anniversaries of the date of grant.

F1 · price: The Reporting Person received the shares pursuant to a stock grant from the Issuer under the Issuer's 2011 Stock Incentive Plan. Such shares vest in three (3) substantially equal installments on the first three anniversaries of the date of grant.

SEC source: 0001104659-18-019395 · a4a.xml · derivative · entry 2

BROOKS DAVID A · CIK 0001260555 · CTO, GC and Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 96,154

Underlying: Common Stock · Not disclosed shares

Expires 2021-03-14

F2 · security: Each performance stock unit ("Performance Stock Unit") award represents a right to receive between zero and two shares of the Issuer's common stock if and when the applicable vesting criteria have been achieved.

F2 · derivative.exercise_price: Each performance stock unit ("Performance Stock Unit") award represents a right to receive between zero and two shares of the Issuer's common stock if and when the applicable vesting criteria have been achieved.

F3 · kind: Represents a stock grant from the Issuer under the Issuer's 2011 Stock Incentive Plan.

F4 · shares: Represents the target number of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the target number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 31, 2019 (with respect to the 2016 Performance Stock Units award), March 24, 2020 (with respect to the 2017 Performance Stock Units award), and March 14, 2021 (with respect to the 2018 Performance Stock Units award).

F3 · price: Represents a stock grant from the Issuer under the Issuer's 2011 Stock Incentive Plan.

F4 · derivative.underlying_shares: Represents the target number of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the target number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 31, 2019 (with respect to the 2016 Performance Stock Units award), March 24, 2020 (with respect to the 2017 Performance Stock Units award), and March 14, 2021 (with respect to the 2018 Performance Stock Units award).

F4 · balance_after: Represents the target number of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the target number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 31, 2019 (with respect to the 2016 Performance Stock Units award), March 24, 2020 (with respect to the 2017 Performance Stock Units award), and March 14, 2021 (with respect to the 2018 Performance Stock Units award).

SEC source: 0001104659-18-019395 · a4a.xml · nonDerivative · entry 1

BROOKS DAVID A · CIK 0001260555 · CTO, GC and Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 836,039

F1 · kind: The Reporting Person received the shares pursuant to a stock grant from the Issuer under the Issuer's 2011 Stock Incentive Plan. Such shares vest in three (3) substantially equal installments on the first three anniversaries of the date of grant.

F1 · price: The Reporting Person received the shares pursuant to a stock grant from the Issuer under the Issuer's 2011 Stock Incentive Plan. Such shares vest in three (3) substantially equal installments on the first three anniversaries of the date of grant.

SEC source: 0001104659-18-019393 · a4a.xml · derivative · entry 2

KESSLER DOUGLAS A · CIK 0001260655 · CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 200,321

Underlying: Common Stock · Not disclosed shares

Expires 2021-03-14

F2 · security: Each performance stock unit ("Performance Stock Unit") award represents a right to receive between zero and two shares of the Issuer's common stock if and when the applicable vesting criteria have been achieved.

F2 · derivative.exercise_price: Each performance stock unit ("Performance Stock Unit") award represents a right to receive between zero and two shares of the Issuer's common stock if and when the applicable vesting criteria have been achieved.

F3 · kind: The Reporting Person received the Performance Stock Units pursuant to a grant from the Issuer under the Issuer's 2011 Stock Incentive Plan.

F4 · shares: Represents the target number of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the target number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 31, 2019 (with respect to the 2016 Performance Stock Units award), March 24, 2020 (with respect to the 2017 Performance Stock Units award), and March 14, 2021 (with respect to the 2018 Performance Stock Units award).

F3 · price: The Reporting Person received the Performance Stock Units pursuant to a grant from the Issuer under the Issuer's 2011 Stock Incentive Plan.

F4 · derivative.underlying_shares: Represents the target number of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the target number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 31, 2019 (with respect to the 2016 Performance Stock Units award), March 24, 2020 (with respect to the 2017 Performance Stock Units award), and March 14, 2021 (with respect to the 2018 Performance Stock Units award).

F4 · balance_after: Represents the target number of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the target number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 31, 2019 (with respect to the 2016 Performance Stock Units award), March 24, 2020 (with respect to the 2017 Performance Stock Units award), and March 14, 2021 (with respect to the 2018 Performance Stock Units award).

SEC source: 0001104659-18-019393 · a4a.xml · nonDerivative · entry 1

KESSLER DOUGLAS A · CIK 0001260655 · CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,172,083

F1 · kind: The Reporting Person received the shares pursuant to a stock grant from the Issuer under the Issuer's 2011 Stock Incentive Plan. Such shares vest in three (3) substantially equal installments on the first three anniversaries of the date of grant.

F1 · price: The Reporting Person received the shares pursuant to a stock grant from the Issuer under the Issuer's 2011 Stock Incentive Plan. Such shares vest in three (3) substantially equal installments on the first three anniversaries of the date of grant.

SEC source: 0001104659-18-019394 · a4a.xml · derivative · entry 3

Welter Jeremy · CIK 0001516834 · Chief Operating Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 453,131

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F4 · security: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 9 discussing the convertibility of the Common Units.

F4 · derivative.exercise_price: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 9 discussing the convertibility of the Common Units.

F2 · kind: The Reporting Person received the Performance Stock Units, LTIP Units and Performance LTIP Units awards reported herein under the Issuer's 2011 Stock Incentive Plan.

F4 · shares: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 9 discussing the convertibility of the Common Units.

F7 · price: Per newly acquired LTIP Unit and Performance LTIP Unit purchase price.

F5 · derivative.exercise_date: The LTIP Units acquired by the Reporting Person, as reported herein, vest in three (3) substantially equal installments on the first three (3) anniversaries of the date of grant. See Footnote 4 discussing the convertibility of Vested LTIP Units.

F6 · derivative.expiration_date: Neither the Common Units nor the LTIP Units have an expiration date.

F4 · derivative.underlying_shares: Represents 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 9 discussing the convertibility of the Common Units.

F8 · balance_after: Reflects the aggregate number of LTIP Units held directly or indirectly by the Reporting Person following the LTIP Units award reported herein, and includes LTIP Units comprising awards previously granted to, and reported by, the Reporting Person. Such LTIP Units have different grant and vesting dates and include those which (i) may have achieved parity with the Common Units, (ii) have not yet achieved parity with the Common Units, (iii) are currently vested, or (iv) have not yet vested. Such LTIP Units have been combined herein solely for reporting purposes.

SEC source: 0001104659-18-019394 · a4a.xml · derivative · entry 2

Welter Jeremy · CIK 0001516834 · Chief Operating Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 90,545

Underlying: Common Stock · Not disclosed shares

Expires 2021-03-14

F1 · security: Each performance stock unit ("Performance Stock Unit") award represents a right to receive between zero and two shares of the Issuer's common stock if and when the applicable vesting criteria have been achieved.

F1 · derivative.exercise_price: Each performance stock unit ("Performance Stock Unit") award represents a right to receive between zero and two shares of the Issuer's common stock if and when the applicable vesting criteria have been achieved.

F2 · kind: The Reporting Person received the Performance Stock Units, LTIP Units and Performance LTIP Units awards reported herein under the Issuer's 2011 Stock Incentive Plan.

F3 · shares: Represents the target amount of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 14, 2021 (with respect to the 2018 Performance Stock Units award).

F2 · price: The Reporting Person received the Performance Stock Units, LTIP Units and Performance LTIP Units awards reported herein under the Issuer's 2011 Stock Incentive Plan.

F3 · derivative.underlying_shares: Represents the target amount of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 14, 2021 (with respect to the 2018 Performance Stock Units award).

F3 · balance_after: Represents the target amount of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 200% of the number of Performance Stock Units reported, based on achievement of specified relative and total stockholder returns of the Issuer. Assuming continued service through the vesting date and achievement of the specified relative and total stockholder returns, the Performance Stock Units, as adjusted, will generally vest on March 14, 2021 (with respect to the 2018 Performance Stock Units award).

SEC source: 0001104659-18-011495 · a4.xml · nonDerivative · entry 1

KESSLER DOUGLAS A · CIK 0001260655 · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 971,762

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.

F2 · price: Represents the closing price of the common stock on February 20, 2018, the date of forfeiture.

SEC source: 0001104659-18-006611 · a4.xml · nonDerivative · entry 1

Welter Jeremy · CIK 0001516834 · EVP - Asset Management

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,295.258

F1 · kind: Acquired through broker-sponsored automatic dividend reinvestment program. Reporting of such transaction was eligible for deferred reporting under Rule 16a-6. The Reporting Person has chosen to report such transaction early.

SEC source: 0000909143-17-000054 · primary_doc.xml · nonDerivative · entry 1

PAYNE PHILIP S · CIK 0001073017 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 98,587

F1 · kind: The Reporting Person received the shares pursuant to an annual stock grant under the Issuer's 2011 Stock Incentive Plan upon the Reporting Person's re-election to the Issuer's Board of Directors.

F1 · price: The Reporting Person received the shares pursuant to an annual stock grant under the Issuer's 2011 Stock Incentive Plan upon the Reporting Person's re-election to the Issuer's Board of Directors.

SEC source: 0000909143-17-000056 · primary_doc.xml · derivative · entry 4

Ansell Benjamin J MD · CIK 0001464574 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 16,151

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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 5 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 5 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 upon the Reporting Person's re-election to the Issuer's Board of Directors.

F4 · price: Per LTIP Unit purchase price.

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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 5 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 5 discussing the convertibility of Common Units.

F1 · derivative.underlying_shares: 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 Units (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 5 discussing the convertibility of Common Units.

SEC source: 0000909143-17-000059 · primary_doc.xml · derivative · entry 2

KLEISNER FRED J · CIK 0001286494 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 16,151

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. Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock based on a conversion ratio described in the partnership agreement of Subsidiary, which, on May 15, 2017, was 0.9428682274 shares of the Issuer's common stock for each Common Unit.

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. Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock based on a conversion ratio described in the partnership agreement of Subsidiary, which, on May 15, 2017, was 0.9428682274 shares of the Issuer's common stock for each Common Unit.

F2 · kind: The Reporting Person received the LTIP Units award reported herein under the Issuer's 2011 Stock Incentive Plan upon the Reporting Person's re-election to the Issuer's Board of Directors.

F4 · price: Per LTIP Unit purchase price.

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. Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock based on a conversion ratio described in the partnership agreement of Subsidiary, which, on May 15, 2017, was 0.9428682274 shares of the Issuer's common stock for each Common Unit.

F3 · derivative.expiration_date: The LTIP Units have no 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. Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock based on a conversion ratio described in the partnership agreement of Subsidiary, which, on May 15, 2017, was 0.9428682274 shares of the Issuer's common stock for each Common Unit.

F1 · derivative.underlying_shares: 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. Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock based on a conversion ratio described in the partnership agreement of Subsidiary, which, on May 15, 2017, was 0.9428682274 shares of the Issuer's common stock for each Common Unit.