Summit Hotel Properties, Inc. — Director's Dealing 2024

Mar 11, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Summit Hotel Properties, Inc. (INN)
CIK: 0001497645
Period of Report: 2024-03-08

Reporting Person: Conkling William Higgins (EVP & Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-03-08	Common Stock (Time-Based Vesting)	A	74074	—	Acquired	496853	Direct
2024-03-08	Common Stock (Performance-Based Vesting)	A	111111	—	Acquired	607964	Direct

Footnotes

F1: Represents shares of restricted common stock granted to the reporting person under the Issuer's 2011 Equity Incentive Plan as amended and restated effective May 13, 2021. The restricted shares shall become vested and nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer, on March 9, 2025 (25% of the shares granted), March 9, 2026 (25% of the shares granted) and March 9, 2027 (the remaining 50% of the shares granted).

F2: Represents shares of restricted common stock granted to the reporting person under the Issuer's 2011 Equity Incentive Plan as amended and restated effective May 13, 2021. The restricted shares shall become vested and nonforfeitable on March 8, 2027, if the reporting person remains in the continued service as an employee of the Issuer and the Issuer's cumulative total shareholder return (TSR) for the period starting March 8, 2024 and ending March 8, 2027 exceeds at least 25.5% of its peer group, which shall include certain constituents of the Dow Jones U.S. Hotels Index. The number of shares will convert at a range from 25% to 200% of the shares granted to the reporting person based upon the Issuer's cumulative TSR performance compared to its peer group for the reporting period.