X0306 4 2020-12-28 0 0001604738 Ashford Inc. AINC 0001608195 Eubanks Deric S 14185 DALLAS PARKWAY SUITE 1100 DALLAS TX 75254 0 1 0 0 CFO and Treasurer Common Stock 2020-12-28 4 A 0 26671 5.36 A 56608 D Common Stock 25 I By spouse's IRA Stock Options (right to purchase) 61.12 2022-02-27 2029-02-27 Common Stock 35000 35000 D Stock Options (right to purchase) 94.96 2021-03-14 2028-03-14 Common Stock 27451 27451 D Stock Options (right to purchase) 57.71 2020-10-03 2027-10-03 Common Stock 17500 17500 D Stock Options (right to purchase) 57.34 2020-04-18 2027-04-18 Common Stock 17500 17500 D Stock Options (right to purchase) 45.59 2019-03-31 2026-03-31 Common Stock 35000 35000 D Stock Options (right to purchase) 85.97 2017-12-11 2022-12-11 Common Stock 30000 30000 D Common Units 0.00 Common Stock 27.8 27.8 D 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. 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. /s/ Deric S. Eubanks 2020-12-30