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

OMB Number: 3235-0287
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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 *

Hays J Robison III
2. Issuer Name and Ticker or Trading Symbol

Ashford Inc. [ AINC ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

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

3. Date of Earliest Transaction (MM/DD/YYYY)


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         103102 D  

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
Class 2 LTIP Units $61.12           2/27/2022 2/27/2029 Common Stock 35000  35000 D  
Class 2 LTIP Units $94.96           3/14/2021 3/14/2028 Common Stock 27451  27451 D  
Class 2 LTIP Units $57.71           10/3/2020 10/3/2027 Common Stock 17500  17500 D  
Class 2 LTIP Units $57.34           4/18/2020 4/18/2027 Common Stock 17500  17500 D  
Class 2 LTIP Units $45.59           3/31/2019 3/31/2026 Common Stock 35000  35000 D  
Class 2 LTIP Units $85.97 7/7/2022  D (1)    30000  12/11/2017 12/11/2022 Common Stock 0 $0 (1)0 D  
Class 2 LTIP Units $85.97 7/7/2022  A (1)  30000    12/11/2017 12/11/2025 Common Stock 30000 $0 (1)30000 D  
Common Units (2)$0.00 (2)           (2) (2)Common Stock (2)77.05  77.05 D  

Explanation of Responses:
(1) The reported transaction involves an amendment of outstanding Class 2 Long-Term Incentive Partnership Units ("LTIP 2") in Ashford Hospitality Holdings LLC originally granted on December 11, 2014 (the "Former Award"), resulting in the deemed cancellation of the Former Award and the grant of replacement LTIP 2s.
(2) Common units ("Common Units") in Ashford Hospitality Advisors LLC, the Issuer's operating subsidiary, owned by the Reporting Person. 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. The Common Units have no expiration date.

Reporting Owners
Reporting Owner Name / Address
Director10% OwnerOfficerOther
Hays J Robison III
SUITE 1200
DALLAS, TX 75254

Senior Managing Director

/s/ J. Robison Hays, III7/8/2022
**Signature of Reporting PersonDate

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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Ashford (AMEX:AINC)
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