Deric S. Eubanks - 11 Mar 2022 Form 4 Insider Report for Ashford Inc.

Role: CFO and Treasurer
Signature: /s/ Deric S. Eubanks
Issuer symbol: N/A
Transactions as of: 11 Mar 2022
Net transactions value: -$36,015
Form type: 4
Filing time: 15 Mar 2022, 21:06:50 UTC
Previous filing: 02 Mar 2022
Next filing: 19 Dec 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AINC	Common Stock	Award	$0	+17,206	+43%	$0.000000	56,830	15 Mar 2022	Direct	F1
transaction	AINC	Common Stock	Tax liability	$36,015	-2,029	-4.9%	$17.75	39,624	11 Mar 2022	Direct	F2, F3
holding	AINC	Common Stock						30	11 Mar 2022	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
holding	AINC	Stock Options (right to purchase)						35,000	11 Mar 2022	Common Stock	35,000	$61.12	Direct
holding	AINC	Stock Options (right to purchase)						27,451	11 Mar 2022	Common Stock	27,451	$94.96	Direct
holding	AINC	Stock Options (right to purchase)						17,500	11 Mar 2022	Common Stock	17,500	$57.71	Direct
holding	AINC	Stock Options (right to purchase)						17,500	11 Mar 2022	Common Stock	17,500	$57.34	Direct
holding	AINC	Stock Options (right to purchase)						35,000	11 Mar 2022	Common Stock	35,000	$45.59	Direct
holding	AINC	Stock Options (right to purchase)						30,000	11 Mar 2022	Common Stock	30,000	$85.97	Direct
holding	AINC	Common Units						28	11 Mar 2022	Common Stock	28	$0.000000	Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The Reporting Person received the shares pursuant to a stock grant from the Issuer under the Issuer's 2014 Incentive Plan. Such shares vest in three (3) substantially equal installments on the first three (3) anniversaries following the date of grant.
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 vesting of restricted stock held by the Reporting Person.
F3	Represents the closing price of the common stock on March 10, 2022, the last trading day before the date of forfeiture.
F4	Common units ("Common Units") in Ashford Hospitality Advisors LLC, the Issuer's operating subsidiary, owned by the Reporting Person. 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. The Common Units have no expiration date.