Summit Hotel Properties, Inc. — Director's Dealing 2012

Jun 22, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Summit Hotel Properties, Inc. (INN)
CIK: 0001497645
Period of Report: 2012-04-25

Reporting Person: Boekelheide Kerry W (Director, Executive Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-04-25	Common Stock	A	36632	—	Acquired	36632	Direct
2012-04-25	Common Stock	A	27474	—	Acquired	64106	Direct

Footnotes

F1: Represents shares of restricted common stock granted to the reporting person by the Issuer's Board of Directors under a time-based stock award agreement. 25%, 25% and 50% of the restricted shares shall become vested and nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer, on December 31, 2012, December 31, 2013, and December 31, 2014, respectively.

F2: Represents shares of restricted common stock granted to the reporting person by the Issuer's Board of Directors under a performance-based stock award agreement. The restricted shares shall become vested and nonforfeitable in one-third increments on January 1, 2013, January 1, 2014 and January 1, 2015, if the reporting person remains in the continued service as an employee of the Issuer and the Issuer's total stockholder return ("TSR") in each one-year period commencing January 1, 2012 equals or exceeds the total return of the SNL U.S. Lodging REIT Index (the "Index Return") for the same period. Two-thirds of the shares (reduced by the number of shares (reduced by the number already vested) shall vest on January 1, 2014 if the Issuer's TSR for the two-year period commencing January 1, 2012 equals or exceeds the Index Return for the same period. ...

F3: All of the shares (reduced by the number already vested) shall vest on January 1, 2015 if the Issuer's TSR for the three-year period commencing January 1, 2012 equals or exceeds the Index Return for the same period.