Real Estate
Ashford Hospitality Trust Executive Compensation (FY25)
AHT · Dallas, TX · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025 ◇ Stephen Zsigray | Latest say-on-pay support = May 12, 2026 |
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The paid brief on Ashford Hospitality Trust
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
Data as of October 22, 2026Latest filing (8-K): May 15, 2026
13 filings cited on this page
Method: intel.velarion.ai/methodology
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Published by Velarion Company Intelligence
Velarion Member, one year
128 figures on this page: 120 cited to the filing that reported them, 8 calculated from figures it prints. See the citations
More on Ashford Hospitality Trust
Five data products on this company. Each one is requested through the developer setup page.
- Peer Disclosure Audit$5The comparison companies this board named, each one tied to the filing that lists it.How to get Peer Disclosure Audit
- Governance Provisions PullfreeThe governance provisions as the proxy states them: board leadership, committee membership, and shareholder rights.How to get Governance Provisions Pull
- Say-on-Pay Risk Signal$9A risk band for the next say-on-pay vote, with the support history and the peer comparison behind it.How to get Say-on-Pay Risk Signal
- NEO Comp Report$24Every named executive officer’s pay by element and year, with the citation behind each figure.How to get NEO Comp Report
- Board Comp Report$24What each non-employee director was paid, the standing fee schedule, and the equity each one holds at year end.How to get Board Comp Report
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Stephen Zsigray: $858,748 → $5,022,605
Say-on-pay support: 65.5% → 20.4% (45.1 points lower)
Frequently asked questions
Answers drawn from the data on this page.
Who is Ashford Hospitality Trust's chief executive and what were they paid?
Stephen Zsigray was paid $5,022,605 in total compensation as President and Chief Executive Officer for fiscal 2025. Zsigray's total was up from the $858,748 reported for fiscal 2024.
What was Ashford Hospitality Trust's say-on-pay result?
The say-on-pay proposal drew 20.4% of votes cast for or against in favor at the meeting held May 12, 2026 for fiscal 2025.
Which companies are in Ashford Hospitality Trust's peer group?
The disclosed peer group names Chatham Lodging Trust, DiamondRock Hospitality Company, Hersha Hospitality Trust, Host Hotels & Resorts, Inc. and Park Hotels and Resorts, Inc., among others. The Review of Market Data for Peer Companies names Chatham Lodging Trust, DiamondRock Hospitality Company, Hersha Hospitality Trust, Host Hotels & Resorts, Inc. and Park Hotels and Resorts, Inc., among others.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
J. Robison Hays President and Chief Executive Officer | — | — | ◇ | — | — | — | ◇ | ◇ |
Deric Eubanks Chief Financial Officer | — | — | ◇ | — | — | — | ◇ | ◇ |
Mark Nunneley Chief Accounting Officer | — | — | ◇ | — | — | — | ◇ | ◇ |
Alex Rose Executive Vice President, General Counsel and Secretary | — | — | ◇ | — | — | — | ◇ | ◇ |
Fiscal 2023
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
J. Robison Hays President and Chief Executive Officer (through June 30, 2024) | — | — | ◇ | — | — | — | ◇ | ◇ |
Deric Eubanks Chief Financial Officer | — | — | ◇ | — | — | — | ◇ | ◇ |
Alex Rose Executive Vice President, General Counsel and Secretary | — | — | ◇ | — | — | — | ◇ | ◇ |
Fiscal 2024
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
J. Robison Hays President and Chief Executive Officer (through June 30, 2024) | — | — | — | — | — | — | ◇ | ◇ |
Deric Eubanks Chief Financial Officer | — | — | — | — | — | — | ◇ | ◇ |
Stephen Zsigray President and Chief Executive Officer (effective June 30, 2024) | — | — | ◇ | — | — | — | ◇ | ◇ |
Alex Rose Executive Vice President, General Counsel and Secretary | — | — | — | — | — | — | ◇ | ◇ |
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Stephen Zsigray President and Chief Executive Officer | — | ◇ | — | — | — | — | ◇ | ◇ |
Deric Eubanks Former Chief Financial Officer Departed during or after this year | — | — | — | — | — | — | ◇ | ◇ |
Alex Rose Former Executive Vice President, General Counsel and Secretary Departed during or after this year | — | — | — | — | — | — | ◇ | ◇ |
Justin Coe Chief Accounting Officer | — | — | — | — | — | — | ◇ | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.
Equity awards granted
Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2022
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| Alex Rose | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Deric S. Eubanks | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| J. Robison Hays, III | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Mark L. Nunneley | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.
Outstanding awards
Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| Stephen Zsigray | RSU | ◇ | ◇ | — | — |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Severance and change in control
The terms as written in the agreements.
Stephen Zsigray
President and Chief Executive Officer · Terms as described in the company’s compensation discussion · dated December 9, 2025
| Severance multiple | ◇ |
| Severance base | ◇ |
| Change-in-control multiple | ◇ |
| Change-in-control base | ◇ |
| Benefits continuation on change in control | ◇ |
| Benefits continuation | ◇ |
| Clawback | ◇ |
Deric Eubanks
Former Chief Financial Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
| Severance base | ◇ |
| Change-in-control multiple | ◇ |
Director compensation
What each non-employee director was paid.
Fiscal 2025
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
Monty J. Bennett Board chair | — | — | — | — | — | ◇ | ◇ |
Amish Gupta Lead independent director | ◇ | — | — | — | — | — | ◇ |
Kamal Jafarnia | ◇ | — | — | — | — | — | ◇ |
Sheri L. Pantermuehl | ◇ | — | — | — | — | — | ◇ |
Davinder Sonny Sra | ◇ | — | — | — | — | — | ◇ |
Frederick J. Kleisner | ◇ | — | — | — | — | — | ◇ |
David W. Johnson | ◇ | — | — | — | — | — | ◇ |
Stephen Zsigray served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director fee schedule
The standing retainers and premiums the board pays, as published.
| Board cash retainer | ◇ |
| Board equity retainer | ◇ |
| Total board retainer | ◇ |
| Lead independent director premium | ◇ |
| Audit committee chair | ◇ |
| Audit committee member | ◇ |
| Compensation committee chair | ◇ |
| Compensation committee member | ◇ |
| Nominating and governance chair | ◇ |
| Nominating and governance member | ◇ |
| Board meeting fee | ◇ |
Equity is delivered as Common Stock or LTIP Units.
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2022
- Chatham Lodging Trust CLDT
- DiamondRock Hospitality Company DRH
- Hersha Hospitality Trust HT
- Host Hotels & Resorts, Inc. HST
- Park Hotels and Resorts, Inc. symbol not shown
- Pebblebrook Hotel Trust PEB
- RLJ Lodging Trust RLJ
- Summit Hotel Properties, Inc. INN
- Sunstone Hotel Investors, Inc. SHO
- Xenia Hotels & Resorts, Inc. XHR
Review of Market Data for Peer Companies
- Chatham Lodging Trust CLDT
- DiamondRock Hospitality Company DRH
- Hersha Hospitality Trust HT
- Host Hotels & Resorts, Inc. HST
- Park Hotels and Resorts, Inc. PK
- Pebblebrook Hotel Trust PEB
- RLJ Lodging Trust RLJ
- Summit Hotel Properties, Inc. INN
- Sunstone Hotel Investors, Inc. SHO
- Xenia Hotels & Resorts, Inc. XHR
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2025 | May 12, 2026 | = | ◇ | ◇ | ◇ |
| 2024 | May 13, 2025 | = | ◇ | ◇ | ◇ |
| 2023 | May 14, 2024 | = | ◇ | ◇ | ◇ |
| 2022 | May 9, 2023 | = | ◇ | ◇ | ◇ |
| 2021 | May 10, 2022 | = | ◇ | ◇ | ◇ |
| 2020 | May 12, 2021 | = | ◇ | ◇ | ◇ |
| 2018 | May 16, 2019 | = | ◇ | ◇ | ◇ |
| 2017 | May 15, 2018 | = | ◇ | ◇ | ◇ |
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What this page does not include
Everything above is a fact Ashford Hospitality Trust disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Ashford Hospitality Trust sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $499Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion IntelligenceSay-on-pay responsiveness
Ashford Hospitality Trust recorded a low support level. The responsiveness analysis covers what the company said it would do, what it did, and how that compares with the companies that recovered their vote.
Responsiveness analysisAdviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
128 figures on this page: 120 cited to the filing that reported them, 8 calculated from figures it prints.
120 cited to the filing
8 calculated from the filing
Documents cited
- 0001232582-26-000122
- 0001232582-26-000085BOARD OF DIRECTORS AND COMMITTEES · Outstanding Equity Awards at · Summary Compensation Table
- 0001104659-25-119657EXHIBIT 10.1
- 0001232582-25-000098
- 0001232582-25-000072Compensation Discussion and Analysis · Summary Compensation Table
- 0001232582-24-000072
- 0001232582-24-000041Summary Compensation Table
- 0001232582-23-000053
- 0001140361-23-0142312022 Grants of Plan-Based Awards · Summary Compensation Table
- 0001232582-22-000060
- 0001232582-21-000114Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001104659-19-030564
- 0001232582-18-000030
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Ashford Hospitality Trust executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/AHT (accessed 2026).
Short form: data: Velarion
The paid brief for Ashford Hospitality Trust
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
13 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Real Estate rankings
Peers Ashford Hospitality Trust discloses
The companies named in AHT's own disclosed peer group.
Terms on this page
Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
author = {{Velarion Company Intelligence}},
title = {Velarion database: executive and board compensation data},
year = {2026},
version = {2026Q3},
doi = {10.5281/zenodo.22283854},
publisher = {Zenodo},
url = {https://doi.org/10.5281/zenodo.22283854}
}