Deric S. Eubanks - 13 Mar 2023 Form 4 Insider Report for Ashford Inc.

Role: CFO and Treasurer
Signature: /s/ Deric S. Eubanks
Issuer symbol: N/A
Transactions as of: 13 Mar 2023
Net transactions value: -$30,574
Form type: 4
Filing time: 15 Mar 2023, 16:26:15 UTC
Previous filing: 07 Mar 2023
Next filing: 17 Mar 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AINC	Common Stock	Tax liability	$30,574	-2,504	-3.5%	$12.21	68,183	13 Mar 2023	Direct	F1, F2
holding	AINC	Common Stock						30	13 Mar 2023	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	13 Mar 2023	Common Stock	35,000	$61.12	Direct
holding	AINC	Stock Options (right to purchase)						27,451	13 Mar 2023	Common Stock	27,451	$94.96	Direct
holding	AINC	Stock Options (right to purchase)						17,500	13 Mar 2023	Common Stock	17,500	$57.71	Direct
holding	AINC	Stock Options (right to purchase)						17,500	13 Mar 2023	Common Stock	17,500	$57.34	Direct
holding	AINC	Stock Options (right to purchase)						35,000	13 Mar 2023	Common Stock	35,000	$45.59	Direct
holding	AINC	Stock Options (right to purchase)						30,000	13 Mar 2023	Common Stock	30,000	$85.97	Direct
holding	AINC	Common Units						28	13 Mar 2023	Common Stock	28	$0.000000	Direct	F3

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

Explanation of Responses:

Id	Content
F1	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.
F2	Represents the closing price of the common stock on March 10, 2023, the last trading day before the date of forfeiture.
F3	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.