On May 14, 2024, Ashford Hospitality Trust, Inc announced the estimated preliminary results of its 2024 Annual Meeting of Stockholders stating that Blackwells Capital LLC's attempted withhold proxy campaign had no significant impact on the outcome. The Company stated that based on these preliminary results, 7 nominees were elected to the Board of Directors for a one-term period including Amish Gupta, J. Robison Hays, III, David W. Johnson, Frederick J. Kleisner, Sheri L. Pantermuehl, Davinder "Sonny" Sra, and Alan L. Tallis. Accordingly, due to ISS recommendations that the Company believed were unfounded, Monty J. Bennett and Kamal Jafarnia did not secure a majority of votes cast in favor of their election.

Consequently, in accordance with the Company's Corporate Governance Guidelines, Bennett and Jafarnia tendered their resignations as directors. After careful review, the Nominating and Corporate Governance Committee recommended that the Board reject their resignations, a decision that was subsequently upheld by the Board. Thus, Bennett and Jafarnia will continue to serve on the Board.

Additionally, the Company's stockholders approved an advisory resolution on executive compensation and ratified the appointment of BDO USA, P.C. as the Company's independent auditors for the fiscal year ending December 31, 2024.