---
schema_version: "secwatch.filing_event.v1"
accession: "0001604738-24-000010"
form_type: "8-K"
ticker: null
cik: "0001604738"
company_name: "Ashford Inc."
filed_at: "2024-03-15T23:59:59+00:00"
generated_at: "2026-06-04T17:17:29.379182+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Ashford Inc. amends advisory agreement with Ashford Trust; reduces net worth covenant to $750M

## Summary
- Tangible net worth covenant reduced from $1B to $750M plus 75% of net equity proceeds.
- No additional payments to Advisor from Remington/Premier management amendments until Oaktree facility repaid; then limited to $2M/year for 2 years.
- Portfolio Company Fee payable upon certain loan defaults leading to foreclosure of Ashford Trust hotel properties.
- Termination fee revised to include minimum amount; Change of Control and voting control event criteria revised.

## SEC filing metadata
- accession: 0001604738-24-000010
- form_type: 8-K
- cik: 0001604738
- company_name: Ashford Inc.
- filed_at: 2024-03-15T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1604738/000160473824000010/0001604738-24-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1604738/000160473824000010/ainc-20240312.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001604738-24-000010
- JSON: https://secwatch.observer/filing/0001604738-24-000010.json
- Plain text: https://secwatch.observer/filing/0001604738-24-000010.txt

## Key facts
- Material Agreements
  Ashford Inc. entered into Third Amended and Restated Advisory Agreement with Ashford Hospitality Trust, Inc., Ashford Hospitality Limited Partnership, Ashford TRS Corporation, Ashford Hospitality Advisors LLC valued at Advisory agreement with revised terms (effective 2024-03-12).
  - Action: entry
  - Counterparty: Ashford Hospitality Trust, Inc., Ashford Hospitality Limited Partnership, Ashford TRS Corporation, Ashford Hospitality Advisors LLC
  - Value: Advisory agreement with revised terms
  - Effective: 2024-03-12
  source text: On March 12, 2024, Ashford Inc. (the “ Company ”) entered into the Third Amended and Restated Advisory Agreement (the “ Advisory Agreement ”) with Ashford Hospitality Trust, Inc. (“ Ashford Trust ”), Ashford Hospitality Limited Partnership (the “ Operating Partnership ”), Ashford TRS Corporation (“ Ashford TRS ”) and Ashford Hospitality Advisors LLC (together with the Company, the “ Advisor ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604738/000160473824000010/0001604738-24-000010-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.