secwatch.observer — SEC 8-K summary
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Issuer:     ASHFORD HOSPITALITY TRUST INC (AHT)
CIK:        0001232582
Form:       8-K
Filed at:   2026-03-30T23:59:59+00:00
Accession:  0001232582-26-000076
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ashford Hospitality Trust amends advisory pact; term extended to 2055, termination fee set at 30× EBITDA discounted 2%
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1232582/000123258226000076/0001232582-26-000076-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1232582/000123258226000076/aht-20260327.htm
  HTML page:      https://secwatch.observer/filing/0001232582-26-000076

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer