FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response...
0.5                       
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Welter Jeremy
2. Issuer Name and Ticker or Trading Symbol

Ashford Inc. [ AINC ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                    __X__ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
President and COO
(Last)          (First)          (Middle)

14185 DALLAS PARKWAY, SUITE 1100
3. Date of Earliest Transaction (MM/DD/YYYY)

12/28/2020
(Street)

DALLAS, TX 75254
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
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 Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 12/28/2020  A(1)  35603 A(1)$5.36 186792 D  

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Series D Convertible Preferred Stock (2)$0.21 (2)           (2) (2)Common Stock (2)6893  32400 (2)D  
Stock Options (right to purchase) $61.12           2/27/2022 2/27/2029 Common Stock 35000  35000 D  
Stock Options (right to purchase) $94.96           3/14/2021 3/14/2028 Common Stock 27451  27451 D  
Stock Options (right to purchase) $57.71           10/3/2020 10/3/2027 Common Stock 17500  17500 D  
Stock Options (right to purchase) $57.34           4/18/2020 4/18/2027 Common Stock 17500  17500 D  
Stock Options (right to purchase) $45.59           3/31/2019 3/31/2026 Common Stock 35000  35000 D  
Stock Options (right to purchase) $85.97           12/11/2017 12/11/2022 Common Stock 30000  30000 D  
Common Units (3)$0.00 (3)           (3) (3)Common Stock (3)68.18  68.18 D  

Explanation of Responses:
(1) These shares of fully vested common stock were issued under the Issuer's 2014 Incentive Plan in lieu of a portion of the Reporting Person's 2019 cash bonus that would have otherwise been paid in cash.
(2) 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.
(3) 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.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Welter Jeremy
14185 DALLAS PARKWAY
SUITE 1100
DALLAS, TX 75254

XPresident and COO

Signatures
/s/ Jeremy Welter12/30/2020
**Signature of Reporting PersonDate

Ashford (AMEX:AINC)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Ashford Charts.
Ashford (AMEX:AINC)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Ashford Charts.