{"schema_version":"secwatch.filing_event.v1","accession":"0001232582-26-000076","form_type":"8-K","ticker":"AHT","cik":"0001232582","company_name":"ASHFORD HOSPITALITY TRUST INC","filed_at":"2026-03-30T23:59:59+00:00","discovered_at":"2026-05-14T18:02:34.670697+00:00","generated_at":"2026-05-15T08:20:55.001893+00:00","sec_items":["1.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Ashford Hospitality Trust amends advisory pact; term extended to 2055, termination fee set at 30× EBITDA discounted 2%","bullets":["Termination Fee redefined as 30 years of Foregone Adjusted EBITDA, discounted at 2%.","Minimum Tangible Net Worth reduced from $750M to $600M plus 75% of equity proceeds after June 2023.","Working Capital Reserve fixed at $20M; Advisor may escrow Termination Fee upon Change of Control.","Company's ability to terminate agreement for fraud removed; tax indemnity for Advisor added.","Incentive Fee cap for peer outperformance increased from 25% to 100%; TMC fee reduced if market cap exceeds $4B."],"urls":{"canonical":"https://secwatch.observer/filing/0001232582-26-000076","json":"https://secwatch.observer/filing/0001232582-26-000076.json","markdown":"https://secwatch.observer/filing/0001232582-26-000076.md","text":"https://secwatch.observer/filing/0001232582-26-000076.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1232582/000123258226000076/0001232582-26-000076-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1232582/000123258226000076/aht-20260327.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T08:20:55.001893+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"8f2cbed1910515cf7e0bd91c90b8887ffe345317","claim":"ASHFORD HOSPITALITY TRUST INC entered into Fourth Amended and Restated Advisory Agreement with Ashford Inc. and Ashford Hospitality Advisors LLC (effective 2026-03-27).","evidence_excerpt":"On March 27, 2026, Ashford Hospitality Trust, Inc. (the “ Company ”), Ashford Hospitality Limited Partnership (the “ Operating Partnership ”) and Ashford TRS Corporation (“ Ashford TRS ”), a wholly-owned subsidiary of the Company, entered into the Fourth Amended and Restated Advisory Agreement (the “ Fourth Amended and Restated Advisory Agreement ”) with Ashford Inc. and Ashford Hospitality Advisors LLC (together, the “ Advisor ”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1232582/000123258226000076/0001232582-26-000076-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"Ashford Inc. and Ashford Hospitality Advisors LLC"},{"label":"Effective","value":"2026-03-27"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}