MURPHY W MICHAEL 4
4 · ASHFORD HOSPITALITY TRUST INC · Filed May 17, 2013
Insider Transaction Report
Form 4
MURPHY W MICHAEL
Director
Transactions
- Award
Special Limited Partnership Units
2013-05-16$0.05/sh+5,500$275→ 5,500 totalExercise: $0.00From: 2013-05-16→ Common Stock (5,500 underlying)
Footnotes (3)
- [F1]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, are convertible into Common Limited Partnership Units at the option of the Reporting Person. Common Limited Partnership Units are convertible into cash or, at the option of the Issuer, into shares of the Issuer's common stock on a 1-for-1 basis. The LTIP Units were issued under the Issuer's 2011 Stock Incentive Plan.
- [F2]The LTIP Units have no expiration date.
- [F3]Per LTIP Unit purchase price.