Monty J. Bennett - 24 Feb 2026 Form 4 Insider Report for ASHFORD HOSPITALITY TRUST INC (AHT)

Role
Director
Signature
/s/ Monty J. Bennett
Issuer symbol
AHT
Transactions as of
24 Feb 2026
Net transactions value
$0
Form type
4
Filing time
26 Feb 2026, 18:13:21 UTC
Previous filing
03 Sep 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Bennett Monty J Director 14185 DALLAS PARKWAY,, SUITE 1200, DALLAS /s/ Monty J. Bennett 26 Feb 2026 0001260654

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AHT Common Stock Other +471 471 24 Feb 2026 By Ashford Financial Corporation F10, F11
holding AHT Common Stock 385 24 Feb 2026 Direct
holding AHT Common Stock 761 24 Feb 2026 By MJB Investments, LP
holding AHT Common Stock 358 24 Feb 2026 By Dartmore, LP
holding AHT Common Stock 74 24 Feb 2026 By Reserve, LP IV

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 AHT Performance LTIP Units (2023) Disposed to Issuer -20,174 -92% 1,660 24 Feb 2026 Common Stock 1,660 $0.000000 Texas Yarrow LLC - 2023 PS F1, F2, F3
transaction AHT Performance LTIP Units (2023) Options Exercise -1,660 -100% 0 24 Feb 2026 Common Stock 0 $0.000000 Texas Yarrow LLC - 2023 PS F1
transaction AHT Special Limited Partnership Units Options Exercise $0 +1,660 $0.000000 1,660 24 Feb 2026 Common Stock 1,660 $0.000000 Texas Yarrow LLC - 2023 PS F4, F5, F7, F8
transaction AHT Common Limited Partnership Units Other -472 -100% 0 24 Feb 2026 Common Stock 472 $0.000000 By Ashford Financial Corporation F5, F7, F9, F10
holding AHT Special Limited Partnership Units 13,085 24 Feb 2026 Common Stock 13,085 $0.000000 Texas Yarrow LLC - 2022 PS F4, F5, F6
holding AHT Special Limited Partnership Units 8,550 24 Feb 2026 Common Stock 8,550 $0.000000 Texas Yarrow LLC - 2021 PS F4, F5, F6
holding AHT Special Limited Partnership Units 200 24 Feb 2026 Common Stock 200 $0.000000 Direct F4, F5, F6
holding AHT Special Limited Partnership Units 715 24 Feb 2026 Common Stock 715 $0.000000 By MJB Operating, LP F4, F5, F6
holding AHT Common Limited Partnership Units 967 24 Feb 2026 Common Stock 967 $0.000000 By MJB Operating, LP F5, F7, F8
holding AHT Common Limited Partnership Units 2,536 24 Feb 2026 Common Stock 2,536 $0.000000 By Dartmore, LP F5, F7, F8
holding AHT Common Limited Partnership Units 177 24 Feb 2026 Common Stock 177 $0.000000 By MJB Investments, LP F5, F7, F8
holding AHT Common Limited Partnership Units 550 24 Feb 2026 Common Stock 550 $0.000000 By Reserve, LP IV F5, F7, F8
holding AHT Common Limited Partnership Units 397 24 Feb 2026 Common Stock 397 $0.000000 By Reserve, LP III F5, F7, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each performance LTIP unit ("Performance LTIP Unit") award represented 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.
F2 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, 2025 (with respect to the 2023 grant). 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 7 discussing the convertibility of the Common Units.
F3 Represents 20,174.50 Performance LTIP Units that were forfeited due to certain performance criteria of the 2023 Performance LTIP Unit award not being met.
F4 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, are convertible into Common Units at the option of the Reporting Person. See Footnote 7 discussing the convertibility of the Common Units.
F5 Neither the Common Units nor the LTIP Units have an expiration date.
F6 Reflects the aggregate number of LTIP Units held directly or indirectly by the Reporting Person, 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.
F7 Common Limited Partnership Units of the Subsidiary ("Common Units"). Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis.
F8 Reflects the aggregate number of Common Units currently held directly or indirectly, as noted, by the Reporting Person, some of which may have been converted from LTIP Units by the Reporting Person since the Reporting Person's most recent Form 4 or Form 5 filing. See Footnote 7 discussing the convertibility of the Common Units.
F9 Represents Common Units redeemed by the Issuer on February 24, 2026 for 471 shares of the Issuer's common stock. Such transaction is further reflected in Table I above (see also footnote 10).
F10 Represents shares of common stock issued by the Issuer in connection with the Issuer's redemption of 471.6 Common Units of the Subsidiary. Such Common Units were redeemable, at the option of the Issuer, for 471 shares of the Issuer's common stock on a one-for-one basis, while rounding down fractional Common Units.
F11 Reflects only the Reporting Person's pecuniary interest in the shares of common stock held directly by Ashford Financial Corporation. The Reporting Person hereby disclaims any interest in all other securities of the Issuer held directly by Ashford Financial Corporation.