Ashford Hospitality Trust (NYSE: AHT) exec reports LP unit holdings

Rhea-AI Filing Summary

Ashford Hospitality Trust executive Jim A. Plohg, Executive Vice President, General Counsel and Secretary, filed an amended initial ownership report detailing his partnership interests in the company’s operating subsidiary. He holds 26.8 Special Limited Partnership (LTIP) Units and 8 Common Limited Partnership Units.

The LTIP Units are special long-term incentive partnership units in Ashford Hospitality Limited Partnership. Once vested LTIP Units reach parity with common units, they can be converted into common units at Plohg’s option. The filing notes that neither the LTIP Units nor the common units have an expiration date.

The common units are redeemable for cash or, at Ashford Hospitality Trust’s option, convertible into shares of its common stock on a 1-for-1 basis. This amendment focuses on describing Plohg’s existing ownership structure rather than reporting new purchase or sale transactions.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Plohg Jim A

Role Exec. VP, GC and Secretary

Type	Security	Shares	Price	Value
holding	Special Limited Partnership Units	--	--	--
holding	Common Limited Partnership Units	--	--	--

Holdings After Transaction: Special Limited Partnership Units — 26.8 shares (Direct); Common Limited Partnership Units — 8 shares (Direct)

Footnotes (1)

1. 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 3 discussing the convertibility of the Common Units. Neither the Common Units (as defined below) nor the LTIP Units have an expiration date. Common Limited Partnership Units of the Subsidiary ("Common Units"). 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.

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SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Plohg Jim A

(Last) (First) (Middle)

14185 DALLAS PARKWAY

SUITE 1200

(Street)

DALLAS TX 75254

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
12/16/2025

3. Issuer Name and Ticker or Trading Symbol
ASHFORD HOSPITALITY TRUST INC [ AHT ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Exec. VP, GC and Secretary

5. If Amendment, Date of Original Filed (Month/Day/Year)
12/22/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Special Limited Partnership Units(1)	(1)	(2)	Common Stock	26.8(1)	$0.00(1)	D
Common Limited Partnership Units(3)	(3)	(2)	Common Stock	8(3)	$0.00(3)	D

Explanation of Responses:

1. 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 3 discussing the convertibility of the Common Units.

2. Neither the Common Units (as defined below) nor the LTIP Units have an expiration date.

3. Common Limited Partnership Units of the Subsidiary ("Common Units"). 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.

Remarks:

The Reporting Person inadvertently omitted 8 Common Units and 26.8 LTIP Units in the Reporting Person's original Form 3 filed on December 22, 2025. This amendment is being filed to report the correct number of securities owned.

	/s/ Jim Plohg	01/14/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What does the Ashford Hospitality Trust (AHT) Form 3/A filing report?

The Form 3/A reports Jim A. Plohg’s existing partnership interests in Ashford Hospitality Limited Partnership, including LTIP Units and common units, and clarifies how these units may be converted or redeemed in relation to Ashford Hospitality Trust’s common stock.

How many LTIP Units and common units does the AHT executive hold?

Jim A. Plohg holds 26.8 Special Limited Partnership (LTIP) Units and 8 Common Limited Partnership Units in Ashford Hospitality Limited Partnership, the operating subsidiary of Ashford Hospitality Trust, as reported in this amended initial ownership statement.

Are Ashford Hospitality Trust (AHT) LTIP Units and common units convertible into common stock?

Vested LTIP Units can become common units once they reach parity, and common units are redeemable for cash or, at Ashford Hospitality Trust’s option, convertible into its common stock on a 1-for-1 basis, according to the filing’s footnotes.

Do the LTIP Units and common units reported in the AHT Form 3/A have an expiration date?

The filing states that neither the Common Limited Partnership Units nor the LTIP Units have an expiration date, meaning these partnership interests do not automatically terminate based on time alone under the terms described.

Who is the reporting person in the Ashford Hospitality Trust (AHT) Form 3/A?

The reporting person is Jim A. Plohg, who serves as Executive Vice President, General Counsel and Secretary of Ashford Hospitality Trust. The filing details his direct ownership of LTIP Units and Common Limited Partnership Units in the operating partnership.

Does the AHT Form 3/A show any insider buying or selling of shares?

The Form 3/A describes Jim A. Plohg’s existing holdings of LTIP Units and common units but does not report transactions labeled as purchases or sales. It functions as an amended initial ownership disclosure rather than a record of new trading activity.