Form 4: Ashford Hospitality Trust CFO Deric S. Eubanks Reports Changes in Beneficial Ownership

CFO of Ashford Hospitality Trust, Deric S. Eubanks, reports the forfeiture of shares to cover tax obligations and provides an update on holdings of common stock, performance stock units, and limited partnership units.

Summary

• Deric S. Eubanks, CFO and Treasurer of Ashford Hospitality Trust, filed a Form 4 detailing changes in beneficial ownership.
• On March 15, 2024, 3,045 shares of common stock were forfeited to cover tax withholding obligations related to the vesting of restricted stock.
• The forfeiture price was $1.36 per share, based on the closing price on March 14, 2024.
• Following the transaction, Eubanks directly owns 31,872 shares of common stock and indirectly owns 22 shares through a spouse's IRA.
• Eubanks also holds performance stock units (2023 grant) representing a target of 43,966 common stock shares, which can range from 0% to 250% based on performance.
• Additionally, Eubanks holds performance LTIP units (2022 grant) representing a maximum of 213,038 LTIP Units, also subject to performance-based vesting criteria.
• Eubanks directly holds 1,116 Common Limited Partnership Units of the Subsidiary, some of which may have been converted from special long-term incentive partnership units.
• The performance stock units will generally vest on December 31, 2025, and the performance LTIP units will generally vest on December 31, 2024, assuming continued service and achievement of performance targets.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing changes in beneficial ownership. It doesn't inherently convey positive or negative sentiment.

Future Outlook

The actual number of shares of common stock to be issued upon vesting of Performance Stock Units can range from 0% to 250% of the target number reported, based on achievement of specified relative and total stockholder returns of the Issuer. 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.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the holdings and transactions of key personnel.

Stakeholder Impact

• Shareholders may be interested in the stock ownership of key executives like the CFO.
• The vesting of restricted stock and performance units can incentivize management to improve company performance.

Key Dates