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ASHFORD HOSPITALITY TRUST INC·4

Feb 26, 6:13 PM ET

Bennett Monty J 4

Research Summary

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Updated

Ashford Hospitality (AHT) Director Monty Bennett Converts LTIP Units, Forfeits Some

What Happened

  • Monty J. Bennett, a director of Ashford Hospitality Trust (AHT), reported several related equity/derivative transactions on 2026-02-24. The filing shows he converted 1,660 LTIP (long-term incentive partnership) units into 1,660 shares of AHT common stock (reported as an exercise/conversion, acquired at $0.00). Simultaneously, 20,174.50 Performance LTIP Units from a 2023 award were forfeited because certain performance criteria were not met. Separately, 471.6 common units of the operating partnership were redeemed by the issuer and resulted in issuance of 471 shares of AHT common stock to the reporting person (rounding down fractional units).

Key Details

  • Transaction date: February 24, 2026; Form 4 filed February 26, 2026 (timely filing).
  • Conversions/Acquisitions: 1,660 LTIP units converted into 1,660 common shares at $0.00 (derivative conversion).
  • Forfeiture/Disposition: 20,174.50 Performance LTIP Units forfeited due to unmet performance criteria (derivative disposition to issuer).
  • Redemption: 471.6 Subsidiary Common Units redeemed by issuer for 471 shares of common stock (see footnotes F9/F10).
  • Price/value: No cash purchase or sale proceeds reported (acquisition price $0.00 for conversion; other entries “N/A”).
  • Ownership after transaction: Not explicitly stated in the provided excerpt of the filing.
  • Pecuniary interest: The filing notes the reporting person disclaims other interests but reflects pecuniary interest in shares held by Ashford Financial Corporation (footnote F11).

Context

  • These were internal corporate actions (conversions, unit redemptions, and forfeitures of performance-based LTIP awards), not open-market buys or sells. The forfeiture reduces the maximum potential future shares from the 2023 Performance LTIP award; the conversion/redemption represented the conversion of vested/convertible partnership units into issuer common stock at no cash cost. Such derivative/award-related activity reflects grant/vesting rules and performance outcomes rather than an outright market trade.