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Filing Details

Accession Number:: 0001567619-20-016236
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2020-09-01 16:21:15
Reporting Period:: 2020-08-28

Accepted Time:: 2020-09-01 16:21:15
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1604738	Ashford Inc.	AINC	()	4

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1516834	Jeremy Welter	14185 Dallas Parkway Suite 1100 Dallas TX 75254	President And Coo	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2020-08-28	40,000	$6.00	115,000	No	4	P	Direct
Common Stock	Acquisiton	2020-08-31	7,382	$6.73	122,382	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct
No	4	P	Direct

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Series D Convertible Preferred Stock	$0.21			6,893	32,400	Direct
Common Stock	Stock Options (right to purchase)	$61.12	2022-02-27	2029-02-27	35,000	35,000	Direct
Common Stock	Stock Options (right to purchase)	$94.96	2021-03-14	2028-03-14	27,451	27,451	Direct
Common Stock	Stock Options (right to purchase)	$57.71	2020-10-03	2027-10-03	17,500	17,500	Direct
Common Stock	Stock Options (right to purchase)	$57.34	2020-04-18	2027-04-18	17,500	17,500	Direct
Common Stock	Stock Options (right to purchase)	$45.59	2019-03-31	2026-03-31	35,000	35,000	Direct
Common Stock	Stock Options (right to purchase)	$85.97	2017-12-11	2022-12-11	30,000	30,000	Direct
Common Stock	Common Units	$0.00			68	68	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
	6,893	32,400	Direct
2029-02-27	35,000	35,000	Direct
2028-03-14	27,451	27,451	Direct
2027-10-03	17,500	17,500	Direct
2027-04-18	17,500	17,500	Direct
2026-03-31	35,000	35,000	Direct
2022-12-11	30,000	30,000	Direct
	68	68	Direct

Footnotes

Reflects the weighted average purchase price for the reported transactions. The shares were purchased in multiple transactions at prices ranging from $5.90 to $6.15, inclusive. The Reporting Person will provide the SEC staff, the Issuer, or any security holder of the Issuer, upon request for same, with the full information regarding the number of shares purchased at each separate price within the range specified.
Reflects the weighted average purchase price for the reported transactions. The shares were purchased in multiple transactions at prices ranging from $6.66 to $6.75, inclusive. The Reporting Person will provide the SEC staff, the Issuer, or any security holder of the Issuer, upon request for same, with the full information regarding the number of shares purchased at each separate price within the range specified.
In connection with the transactions contemplated by the Combination Agreement, dated May 31, 2019, as amended, among the Issuer, the Reporting Person, Monty Bennett, Archie Bennett, Jr., Remington Holdings, L.P., Remington Holdings GP, LLC, Project Management LLC, MJB Investments, L.P., James L. Cowen, Ashford Nevada Holding Corp. and Ashford Merger Sub Inc., the Reporting Person, directly or indirectly through certain affiliates, acquired 32,400 shares of Series D Convertible Preferred Stock as reported herein. Such 32,400 shares of Series D Convertible Preferred Stock have no expiration date and are convertible at any time and from time to time, in full or partially, into 6,893 shares of the Issuer's common stock at a conversion ratio equal to the liquidation preference of a share of Series D Convertible Preferred Stock, par value $25.00, divided by $117.50, subject to adjustment.
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.