Summit Hotel Properties, Inc. — Director's Dealing 2022

Jan 19, 2022

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Summit Hotel Properties, Inc. (INN)
CIK: 0001497645
Period of Report: 2022-01-13

Reporting Person: Bright Force Investment, LLC (10% Owner)
Reporting Person: NewcrestImage Holdings, LLC (10% Owner)

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Partnership Units	$		Common Stock (14355904)		Indirect

Footnotes

F1: Represents common units of limited partnership interest ("OP Units") in Summit Hotel OP, LP, the operating partnership of the Issuer (the "Operating Partnership"). Each OP Unit is redeemable for cash equal to the then fair market value of one share of the Issuer's common stock, except that the Operating Partnership may, at its election, cause the Issuer to acquire some or all of the OP Units so presented on a one-for-one basis for shares of the Issuer's common stock.

F2: OP Units issued in connection with the consummation of the contribution of certain properties to the Operating Partnership or its affiliate pursuant to the Contribution and Purchase Agreement, executed as of November 2, 2021, by and among the Operating Partnership, Summit Hospitality JV, LP, NewcrestImage Holdings, LLC and NewcrestImage Holdings II, LLC.

F3: Up to 991,542 OP Units may be redeemed immediately and the remaining 13,364,362 OP Units may be redeemed at any time after July 13, 2022. These redemption rights have no expiration date.

F4: Held directly by Bright Force Investment, LLC, a limited liability company wholly-owned by NewcrestImage Holdings, LLC.