ASHFORD HOSPITALITY TRUST INC appointed Mr. Zsigray as new CEO

ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.


On April 17, 2024, J. Robison Hays, III, President and Chief Executive Officer of Ashford Hospitality Trust, Inc. ("Ashford Trust" or the "Company"), gave notice of his intention to voluntarily resign from his employment and all other employment-related positions he holds with the Company's advisor, Ashford Inc. ("Ashford"), and its subsidiaries, affiliated entities, and entities that it advises (including the Company). Mr. Hay's resignation is expected to be effective June 30, 2024. 


On April 17, 2024, the Board of Directors of the Company appointed Ashford's current Senior Vice President of Corporate Finance & Strategy, Stephen Zsigray, to fill the role of President and Chief Executive Officer at the Company, effective June 30, 2024. 


Mr. Zsigray, age 38, has served as Ashford's Senior Vice President of Corporate Finance & Strategy since May 2020. Mr. Zsigray joined Ashford in 2014 as a trader and portfolio manager in Ashford's investment management division, and subsequently served as President and Chief Operating Officer of OpenKey, an Ashford-affiliated hospitality technology company that provides digital guest key and access control solutions to hotels worldwide. Prior to joining Ashford, Mr. Zsigray was with UBS Investment Bank in New York and began his career with Deloitte Consulting in St. Louis. Mr. Zsigray earned his Bachelor of Science in Business Administration from Saint Louis University, and graduated from Indiana University's Kelley School of Business with an MBA in Finance.


There is no arrangement or understanding between Mr. Zsigray and any other persons in connection with Mr. Zsigray's appointment as President and Chief Executive Officer of the Company, and Mr. Zsigray has no family relationship with any director or executive officer of the Company. Mr. Zsigray serves as Chief Financial Officer and Treasurer of Stirling Hotels & Resorts Inc. ("Stirling"), a position he has held since November 2023. Stirling's subsidiary, Stirling REIT OP, LP, is a consolidated subsidiary of Ashford Trust for GAAP purposes. Other than Mr. Zsigray's position at Stirling, as applicable, Mr. Zsigray has no direct or indirect material interest in any transaction with the Company that is reportable under Item 404(a) of Regulation S-K, nor have any such transactions been proposed.