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AHT > SEC Filings for AHT > Form 8-K on 29-Apr-2014All Recent SEC Filings

Show all filings for ASHFORD HOSPITALITY TRUST INC

Form 8-K for ASHFORD HOSPITALITY TRUST INC


29-Apr-2014

Change in Directors or Principal Officers


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

(f) Determination of Cash Bonus and Equity Awards for Fiscal Year 2013

Cash Incentive Bonuses and Equity Awards. On April 23, 2014, the Board of Directors (the "Board") of the Company approved the cash incentive bonus and annual equity award for Mr. Jeremy Welter. Mr. Welter's salary for fiscal year 2013 was previously reported by the Company in the Summary Compensation Table on page 42 of the definitive proxy statement, dated April 14, 2014, for its 2014 Annual Meeting of Shareholders (filed with the Securities and Exchange Commission ("SEC") on April 14, 2014) (the "Proxy Statement"). As of the filing of the Proxy Statement, the cash bonus for Mr. Welter had not been determined and, therefore, was omitted from the Summary Compensation Table included in the Proxy Statement. Pursuant to Item 5.02(f) of Form 8-K, below is the revised 2013 Summary Compensation Table information for Mr. Welter, reflecting his 2013 bonus and revised total compensation for 2013.

Name and Principal                                                    Equity
Position                     Year     Salary         Bonus        Based Awards(1)      All Other Compensation         Total
Jeremy Welter, Executive
Vice President, Asset
Management                   2013   $ 425,000     $ 297,500     $       1,756,500     $                     -     $ 2,479,000


 _________________________


(1) Represents the total grant date fair value of equity awards made in the fiscal year indicated, computed in accordance with FASB ASC Topic 718. These grants are subject to vesting over a three-year period. While the 2013 total compensation amount presented in the Summary Compensation Table includes equity awards made in 2013, as required by the SEC's rules and regulations, the compensation committee considers actual total compensation for 2013 to be the aggregate of each executive's 2013 base salary, annual bonus (corresponding to 2013 performance) and the grant date value of 2014 incentive equity awards. Using this approach, the total actual compensation for Mr. Welter, as disclosed in the table on page 28 of the Proxy Statement, as revised to reflect his annual bonus and 2014 incentive equity awards, is set forth below.
                                                                          Equity            Actual Total
Name and Principal Position      Year     Salary         Bonus        Based Awards(1)       Compensation
Jeremy Welter, Executive Vice
President, Asset Management      2013   $ 425,000     $ 297,500     $         617,400     $     1,339,900


_________________________


(1) Represents the grant date fair value of equity awards that correspond to performance for the year indicated, some or all of which may have been granted after the end of the related fiscal year.


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