Mark Nunneley - Sep 10, 2021 Form 4 Insider Report for Ashford Inc. (AINC)

Role
Chief Accounting Officer
Signature
/s/ Mark L. Nunneley
Stock symbol
AINC
Transactions as of
Sep 10, 2021
Transactions value $
$0
Form type
4
Date filed
9/14/2021, 06:20 AM
Previous filing
Jul 13, 2021
Next filing
Mar 2, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding AINC Common Stock 40.6K Sep 10, 2021 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction AINC Class 2 LTIP Units Award $0 +20K $0.00 20K Sep 10, 2021 Common Stock 20K $61.12 Direct F1, F2
transaction AINC Class 2 LTIP Units Award $0 +16.3K $0.00 16.3K Sep 10, 2021 Common Stock 16.3K $94.96 Direct F1, F2
transaction AINC Class 2 LTIP Units Award $0 +10K $0.00 10K Sep 10, 2021 Common Stock 10K $57.71 Direct F1, F2
transaction AINC Class 2 LTIP Units Award $0 +10K $0.00 10K Sep 10, 2021 Common Stock 10K $57.34 Direct F1, F2
transaction AINC Class 2 LTIP Units Award $0 +20K $0.00 20K Sep 10, 2021 Common Stock 20K $45.59 Direct F1, F2
transaction AINC Class 2 LTIP Units Award $0 +30K $0.00 30K Sep 10, 2021 Common Stock 30K $85.97 Direct F1, F2
transaction AINC Stock Options (right to purchase) Disposed to Issuer $0 -20K -100% $0.00* 0 Sep 10, 2021 Common Stock 20K $61.12 Direct F3
transaction AINC Stock Options (right to purchase) Disposed to Issuer $0 -16.3K -100% $0.00* 0 Sep 10, 2021 Common Stock 16.3K $94.96 Direct F3
transaction AINC Stock Options (right to purchase) Disposed to Issuer $0 -10K -100% $0.00* 0 Sep 10, 2021 Common Stock 10K $57.71 Direct F3
transaction AINC Stock Options (right to purchase) Disposed to Issuer $0 -10K -100% $0.00* 0 Sep 10, 2021 Common Stock 10K $57.34 Direct F3
transaction AINC Stock Options (right to purchase) Disposed to Issuer $0 -20K -100% $0.00* 0 Sep 10, 2021 Common Stock 20K $45.59 Direct F3
transaction AINC Stock Options (right to purchase) Disposed to Issuer $0 -30K -100% $0.00* 0 Sep 10, 2021 Common Stock 30K $85.97 Direct F3
holding AINC Common Units 133 Sep 10, 2021 Common Stock 133 $0.00 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This Class 2 Long-Term Incentive Partnership Unit ("LTIP 2") in the Issuer's subsidiary operating partnership, Ashford Hospitality Holdings LLC ("AHH"), was granted to the Reporting Person under the Issuer's 2014 Incentive Plan, as amended, as a substitute award for the corresponding stock option voluntarily forfeited by the Reporting Person, as described herein. The LTIP 2s vest on the same schedule as the applicable forfeited option and are intended to replicate the economics of each such option; therefore, each vested LTIP 2 can convert into a number of LTIPs in AHH based on the appreciation in a share of the Issuer's common stock over the initial exercise price of the applicable forfeited option, but a vested LTIP 2 may only be so converted prior to the final conversion date of such LTIP 2 (which is the same as the expiration date of the applicable forfeited option).
F2 LTIPs, upon achieving parity with common limited partnership units of AHH, are in turn convertible into common limited partnership units of AHH, which are themselves redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.
F3 This stock option was voluntarily forfeited by the Reporting Person in exchange for a long-term incentive partnership unit ("LTIP") in the Issuer's subsidiary operating partnership, granted under the Issuer's 2014 Incentive Plan, as amended
F4 Common units ("Common Units") in Ashford Hospitality Advisors LLC, the Issuer's operating subsidiary, owned by 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 on a 1-for-1 basis. The Common Units have no expiration date.