Deric S. Eubanks - 24 Feb 2026 Form 4 Insider Report for ASHFORD HOSPITALITY TRUST INC (AHT)

Signature
/s/ Deric S. Eubanks
Issuer symbol
AHT
Transactions as of
24 Feb 2026
Net transactions value
-$581
Form type
4
Filing time
26 Feb 2026, 18:13:58 UTC
Previous filing
03 Sep 2025

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Eubanks Deric S CFO and Treasurer 14185 DALLAS PARKWAY,, SUITE 1200, DALLAS /s/ Deric S. Eubanks 26 Feb 2026 0001608195

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AHT Common Stock Options Exercise +836 +26% 4,024 24 Feb 2026 Direct F1
transaction AHT Common Stock Tax liability $581 -204 -5.1% $2.85 3,820 24 Feb 2026 Direct F2, F3
holding AHT Common Stock 2 24 Feb 2026 By spouse's IRA

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 Stock Units (2023) Disposed to Issuer -3,560 -81% 836 24 Feb 2026 Common Stock 836 $0.000000 Direct F1, F4, F5
transaction AHT Performance Stock Units (2023) Options Exercise -836 -100% 0 24 Feb 2026 Common Stock 0 $0.000000 Direct F1
holding AHT Special Limited Partnership Units 5,795 24 Feb 2026 Common Stock 5,795 $0.000000 DESE II LLC F6, F7, F9
holding AHT Common Limited Partnership Units 112 24 Feb 2026 Common Stock 112 $0.000000 Direct F8, F9, F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each performance stock unit ("Performance Stock Unit") award granted in 2023 represented a right to receive between 0% and 250% of the target number of Performance Stock Units reflected in the table.
F2 Represents shares of common stock forfeited to the Issuer to satisfy certain tax-withholding obligations of the Reporting Person arising as a result of the award of dividend equivalent rights and the vesting of Performance Stock Units, restricted stock and common stock held by the Reporting Person.
F3 Represents the closing price of the common stock on February 23, 2026, the last trading day before the date of forfeiture.
F4 Represents the target number of common stock shares that may be issued pursuant to the award of Performance Stock Units. The actual number of shares of common stock to be issued upon vesting can range from 0% to 250% of the target number of Performance Stock Units reported, 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 returns, the Performance Stock Units, as adjusted, will generally vest on December 31, 2025 (with respect to the 2023 grant).
F5 Represents 3,560 shares that were forfeited due to certain performance criteria of the 2023 Performance Stock Unit award not being met.
F6 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 (as defined below), are convertible into Common Units at the option of the Reporting Person. See Footnote 8 discussing the convertibility of the Common Units.
F7 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.
F8 Common Limited Partnership Units ("Common Units") of the Subsidiary. 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.
F9 Neither the Common Units nor the LTIP Units have an expiration date.
F10 Reflects aggregate number of Common Units currently held by the Reporting Person, some of which may have been converted from special long-term incentive partnership units of the Subsidiary by the Reporting Person since the Reporting Person's most recent Form 4 or Form 5 filing. See Footnote 8 discussing the convertibility of the Common Units.