# EDGAR Filing Document

**Accession Number:** 0001608195
**File Stem:** 0001104659-23-029619
**Filing Date:** 2023-3
**Character Count:** 8993
**Document Hash:** f69e6c90fbf129dc567ee246c49133b6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-029619.hdr.sgml**: 20230307

**ACCESSION NUMBER**: 0001104659-23-029619

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230303

**FILED AS OF DATE**: 20230307

**DATE AS OF CHANGE**: 20230307

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Eubanks Deric S
- **CENTRAL INDEX KEY:** 0001608195

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-31775
- **FILM NUMBER:** 23713452

**MAIL ADDRESS:**
- **STREET 1:** 14185 DALLAS PARKWAY
- **STREET 2:** SUITE 1100
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75254
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ASHFORD HOSPITALITY TRUST INC
- **CENTRAL INDEX KEY:** 0001232582
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **IRS NUMBER:** 861062192
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 14185 DALLAS PARKWAY SUITE 1100
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75254
- **BUSINESS PHONE:** 9724909600

**MAIL ADDRESS:**
- **STREET 1:** 14185 DALLAS PARKWAY SUITE 1100
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75254

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

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Eubanks Deric S<br><sub>(Last) (First) (Middle)</sub><br>14185 DALLAS PARKWAY,<br>SUITE 1200<br><sub>(Street)</sub><br>DALLAS, TX 75254<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-03 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_CFO and Treasurer_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>ASHFORD HOSPITALITY TRUST INC [ AHT ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock |  |  |  |  |  |  |  | 24895 | D |  |
| Common Stock |  |  |  |  |  |  |  | 22 | I | By spouse's IRA |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Performance Stock Units <sup>(2023)(1)</sup> | 0.00<sup>(1)</sup> | 2023-03-03 |  | A<sup>(2)</sup> |  | 43966<sup>(3)</sup> |  | 2025-12-31 | 2025-12-31 | Common Stock | 43966<sup>(3)</sup> | 0.00<sup>(1)</sup> | 43966<sup>(3)</sup> | D |  |
| Performance LTIP Units <sup>(2022)(4)</sup> | 0.00<sup>(4)</sup> |  |  |  |  |  |  | 2024-12-31 | 2024-12-31 | Common Stock | 213038<sup>(5)</sup> |  | 213038<sup>(5)</sup> | I | DESE II LLC |
| Performance Stock Units <sup>(2021)(1)</sup> | 0.00<sup>(1)</sup> |  |  |  |  |  |  | 2023-12-31 | 2023-12-31 | Common Stock | 23208<sup>(3)</sup> |  | 23208<sup>(3)</sup> | D |  |
| Common Limited Partnership Units<sup>(6)</sup> | 0.00<sup>(6)</sup> |  |  |  |  |  |  | <sup>(6)</sup> | <sup>(7)</sup> | Common Stock | <sup>(6)</sup> |  | 1116<sup>(8)</sup> | D |  |

---

### Footnotes:

(1) Each performance stock unit ("Performance Stock Unit") award granted in 2021 and 2023 represents a right to receive between 0% and 250% of the target number of Performance Stock Units reflected in the table.

(2) The Reporting Person received the Performance Stock Units pursuant to a grant from the Issuer under the Issuer's 2021 Stock Incentive Plan.

(3) 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 250% 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 December 31, 2023 (with respect to the 2021 grant) and December 31, 2025 (with respect to the 2023 grant).

(4) Each performance LTIP unit ("Performance LTIP Unit") award represents a special long-term incentive partnership unit ("LTIP Unit") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"), subject to specified performance-based vesting criteria.

(5) Represents the maximum number of LTIP Units that may vest pursuant to such award of Performance LTIP Units, which is 250% of the target number of LTIP Units. The actual number of Performance LTIP Units that may vest can range from 0% to 250% 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, 2024. 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 6 discussing the convertibility of the Common Units.

(6) Common Limited Partnership Units ("Common Units") of the Subsidiary. Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.

(7) The Common Units do not have an expiration date.

(8) Reflects aggregate number of Common Units currently held by the Reporting Person, some of which may have been converted from special long-term incentive partnership units of the Subsidiary by the Reporting Person since the Reporting Person's most recent Form 4 or Form 5 filing. See Footnote 6 discussing the convertibility of the Common Units.

**Signature:** /s/ Deric S. Eubanks  
**Date:** 2023-03-07

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**