FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

TALLIS ALAN
2. Issuer Name and Ticker or Trading Symbol

ASHFORD HOSPITALITY TRUST INC [ AHT ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                    _____ 10% Owner
_____ Officer (give title below)    _____ Other (specify below)
(Last)          (First)          (Middle)

14185 DALLAS PARKWAY, SUITE 1100
3. Date of Earliest Transaction (MM/DD/YYYY)

5/22/2020
(Street)

DALLAS, TX 75254
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock         120000 I By Tallis Family Revocable Trust, Alan L. Tallis and Shirley A. Tallis, Trustees 
Common Stock         103045 I By 2009 Tallis Family Irrevocable Trust, Shirley A. Tallis, Trustee 
Common Stock         5000 I By Alan L. Tallis IRA 
7.375% Series F Cumulative Preferred Stock         2087 I By 2009 Tallis Family Irrevocable Trust 
7.375% Series F Cumulative Preferred Stock         2087 I By 2012 Shirley A. Tallis Irrevocable Trust 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Special Limited Partnership Units (1)$0 (1)5/22/2020  A (2)  31710     (1) (3)Common Stock (1)(4) (4)$0.68 (2)201779 D  
Common Limited Partnership Units (4)$0 (4)           (4) (3)Common Stock (4) (4) 40305 D  

Explanation of Responses:
(1) Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.
(2) The LTIP Units were issued to the Reporting Person under the Issuer's 2011 Stock Incentive Plan in lieu of 25% of the annual cash retainers (as such cash retainers were reduced in March 2020) that would otherwise be payable to the Reporting Person under the Issuer's non-employee director compensation program for a one-year period and are fully vested.
(3) Neither the LTIP Units nor the Common Units have an expiration date.
(4) 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 as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
TALLIS ALAN
14185 DALLAS PARKWAY
SUITE 1100
DALLAS, TX 75254
X



Signatures
/s/ ALAN TALLIS5/27/2020
**Signature of Reporting PersonDate

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