Sec Form 4 Filing - BENNETT ARCHIE JR @ Ashford Inc. - 2019-03-29

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 Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person BENNETT ARCHIE JR 2. Issuer Name and Ticker or Trading Symbol Ashford Inc. [ AINC] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 14185 DALLAS PARKWAY, SUITE 1100 3. Date of Earliest Transaction (MM/DD/YY) 03/29/2019 (Street) DALLAS, TX75254 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction 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 03/29/2019 M 836 A 38,951 D Common Stock 53,726 I By 1080 Partners, LP

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (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) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Stock Units under Deferred Compensation Plan ( 2 ) 03/29/2019 M 836 ( 2 ) ( 2 ) Common Stock 836 ( 2 ) 7,327 D Common Units ( 3 ) $ 0 ( 3 ) ( 3 ) ( 3 ) Common Stock 152.7 152.7 D Common Units ( 3 ) $ 0 ( 3 ) ( 3 ) ( 3 ) Common Stock 501.6 501.6 I By 1080 Partners, LP Series B Convertible Preferred Stock ( 4 ) $ 0.18 ( 4 ) 08/08/2018( 4 ) ( 4 ) Common Stock 664,285.7 3,720,000 D Series B Convertible Preferred Stock ( 5 ) $ 0.18 ( 5 ) 08/08/2018( 5 ) ( 5 ) Common Stock 7,142.9 40,000 I By Trusts ( 5 ) Series B Convertible Preferred Stock ( 5 ) $ 0.18 ( 5 ) 08/08/2018( 5 ) ( 5 ) Common Stock 7,142.9 40,000 I By Trusts ( 5 )

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other BENNETT ARCHIE JR 14185 DALLAS PARKWAY SUITE 1100 DALLAS, TX75254 X Signatures /s/ Archie Bennett, Jr. 04/15/2019 Signature of Reporting Person Date

Explanation of Responses:

( 1 )On March 29, 2019, the Reporting Person received 836 shares of the Issuer's common stock in settlement of an equal number of stock units held under the Ashford Inc. Amended and Restated Nonqualified Deferred Compensation Plan (originally adopted by Ashford Hospitality Trust, Inc., effective January 1, 2008) assumed by Ashford Inc., effective November 12, 2014 (the "Deferred Compensation Plan"). ( 2 )Each Stock Unit entitles the Reporting Person to receive one share of the Issuer's common stock on the date (or dates) elected by the Reporting Person under the Deferred Compensation Plan. On March 29, 2019, 836 stock units were settled for an equal number of shares of the Issuer's common stock. ( 3 )The common units ("Common Units") in Ashford Hospitality Advisors LLC, the Issuer's operating subsidiary, owned by the Reporting Person 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. The Common Units have no expiration date. ( 4 )In connection with the transactions contemplated by the Combination Agreement, dated August 8, 2018, among the Issuer, the Reporting Person, Monty Bennett, Remington Holdings, L.P., Remington Holdings GP, LLC, Project Management LLC, MJB Investments, L.P., Mark A. Sharkey, Ashford Holding Corp. and Ashford Merger Sub Inc., the Reporting Person acquired 4,000,000 shares of Series B Convertible Preferred Stock as reported on a Form 5 dated February 14, 2019 (the "Form 5"). As reported in the Form 5, as of December 31, 2018, the Reporting Person directly owned 3,720,000 shares of Series B Convertible Preferred Stock. Such 3,720,000 shares of Series B Convertible Preferred Stock are convertible at any time and from time to time, in full or partially, into 664,285.7 shares of the Issuer's common stock at a conversation ratio equal to the liquidation preference of a share of Series B Convertible Preferred Stock, par value $25.00, divided by $140, subject to adjustment. ( 5 )The Series B Convertible Preferred Stock listed here are held in two separate trusts, each of which hold 40,000 shares of Series B Convertible Preferred Stock. In each case, such 40,000 shares of Series B Convertible Preferred Stock are convertible at any time and from time to time, in full or partially, into 7,142.9 shares of the Issuer's common stock at a conversion ratio equal to the liquidation preference of a share of Series B Convertible Preferred Stock, par value $25.00, divided by $140, subject to adjustment. Pursuant to Rule 16a-1(a)(4) of the Securities Exchange Act of 1934, as amended, the Reporting Person herein states that this filing shall not be deemed an admission that he is the beneficial owner of any such interests, and disclaims beneficial ownership of such interests, except to the extent of his pecuniary interest therein.

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