Monty Bennett (AHT) details LP unit forfeiture and stock conversion
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Ashford Hospitality Trust director Monty J. Bennett reported multiple partnership-unit and stock transactions on February 24, 2026, largely through affiliated entities. Texas Yarrow LLC forfeited 20,174.50 Performance LTIP Units from a 2023 award after performance criteria were not met, leaving 1,660 such units that were then exercised and converted into Special Limited Partnership Units.
Footnotes explain that Special and Common Limited Partnership Units in the operating partnership can be redeemed for cash or, at the issuer’s option, converted into common stock on a 1-for-1 basis. On that date, 471.6 Common Limited Partnership Units were redeemed by the issuer for 471 shares of common stock, held indirectly via Ashford Financial Corporation, reflecting only Bennett’s pecuniary interest in those shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
3,320 shares exercised/converted
Mixed
18 txns
Insider
Bennett Monty J
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Performance LTIP Units (2023) | 20,174.5 | $0.00 | -- |
| Exercise | Performance LTIP Units (2023) | 1,660 | $0.00 | -- |
| Exercise | Special Limited Partnership Units | 1,660 | $0.00 | -- |
| Other | Common Limited Partnership Units | 471.6 | $0.00 | -- |
| Other | Common Stock | 471 | $0.00 | -- |
| holding | Special Limited Partnership Units | -- | -- | -- |
| holding | Special Limited Partnership Units | -- | -- | -- |
| holding | Special Limited Partnership Units | -- | -- | -- |
| holding | Special Limited Partnership Units | -- | -- | -- |
| holding | Common Limited Partnership Units | -- | -- | -- |
| holding | Common Limited Partnership Units | -- | -- | -- |
| holding | Common Limited Partnership Units | -- | -- | -- |
| holding | Common Limited Partnership Units | -- | -- | -- |
| holding | Common Limited Partnership Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Performance LTIP Units (2023) — 1,660 shares (Indirect, Texas Yarrow LLC - 2023 PS);
Special Limited Partnership Units — 1,660 shares (Indirect, Texas Yarrow LLC - 2023 PS);
Common Limited Partnership Units — 0 shares (Indirect, By Ashford Financial Corporation);
Common Stock — 471 shares (Indirect, By Ashford Financial Corporation);
Special Limited Partnership Units — 200.3 shares (Direct);
Common Stock — 385 shares (Direct)
Footnotes (1)
- Each performance LTIP unit ("Performance LTIP Unit") award represented a special long-term incentive partnership unit ("LTIP Unit") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"), subject to specified performance-based vesting criteria. Represents the maximum number of LTIP Units that may vest pursuant to such award of Performance LTIP Units, which is 250% of the target number of LTIP Units. The actual number of Performance LTIP Units that may vest can range from 0% to 250% of the target number of Performance LTIP Units, 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 return, the Performance LTIP Units will generally vest on December 31, 2025 (with respect to the 2023 grant). 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 7 discussing the convertibility of the Common Units. Represents 20,174.50 Performance LTIP Units that were forfeited due to certain performance criteria of the 2023 Performance LTIP Unit award not being met. 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, are convertible into Common Units at the option of the Reporting Person. See Footnote 7 discussing the convertibility of the Common Units. Neither the Common Units nor the LTIP Units have an expiration date. 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. 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. Reflects the aggregate number of Common Units currently held directly or indirectly, as noted, by the Reporting Person, some of which may have been converted from LTIP Units by the Reporting Person since the Reporting Person's most recent Form 4 or Form 5 filing. See Footnote 7 discussing the convertibility of the Common Units. Represents Common Units redeemed by the Issuer on February 24, 2026 for 471 shares of the Issuer's common stock. Such transaction is further reflected in Table I above (see also footnote 10). Represents shares of common stock issued by the Issuer in connection with the Issuer's redemption of 471.6 Common Units of the Subsidiary. Such Common Units were redeemable, at the option of the Issuer, for 471 shares of the Issuer's common stock on a one-for-one basis, while rounding down fractional Common Units. Reflects only the Reporting Person's pecuniary interest in the shares of common stock held directly by Ashford Financial Corporation. The Reporting Person hereby disclaims any interest in all other securities of the Issuer held directly by Ashford Financial Corporation.
FAQ
What insider transactions did Monty J. Bennett report for AHT on February 24, 2026?
Bennett reported forfeiture of 20,174.50 Performance LTIP Units, exercise of 1,660 remaining LTIP Units into Special Limited Partnership Units, and redemption of 471.6 Common Limited Partnership Units into 471 shares of Ashford Hospitality Trust common stock through affiliated entities.
What are Performance LTIP Units (2023) in the Ashford Hospitality Trust filing?
Performance LTIP Units are special long-term incentive partnership units in Ashford Hospitality Limited Partnership that vest based on specified performance criteria, including relative and total stockholder returns. Vested LTIP Units can, after achieving parity with Common Units, be converted into Common Units at the reporting person’s option.
How many Ashford Hospitality Trust Performance LTIP Units were forfeited in this Form 4?
The filing states that 20,174.50 Performance LTIP Units from the 2023 award were forfeited because certain performance criteria were not met. This represents the portion of the award that failed to satisfy the specified performance-based vesting conditions for those units.
How were Common Limited Partnership Units converted into Ashford Hospitality Trust common stock?
The filing notes that 471.6 Common Limited Partnership Units were redeemed by the issuer for 471 shares of common stock on a one-for-one basis, rounding down fractional units. These shares were issued to Ashford Financial Corporation, reflecting only Monty J. Bennett’s pecuniary interest in that position.
What indirect partnership-unit holdings does Monty J. Bennett report in Ashford Hospitality Trust’s subsidiary?
The disclosure lists Special Limited Partnership Units held indirectly via entities such as Texas Yarrow LLC, MJB Operating, LP, and directly by Bennett, plus Common Limited Partnership Units held through entities like MJB Operating, Dartmore, MJB Investments, and Reserve partnerships, each with specific unit totals following the reported transactions.