X0306 4 2015-01-30 0 0001295810 Sunstone Hotel Investors, Inc. SHO 0001569256 Sloan David Ryan 120 VANTIS SUITE 350 ALISO VIEJO CA 92656 0 1 0 0 SVP - General Counsel Common Stock 2015-01-30 4 J 0 251.766 A 48840.766 D Common Stock 2015-02-13 4 A 0 24184 A 73024.766 D Common Stock 2015-02-15 4 F 0 3830 D 69194.766 D Common Stock 2015-02-16 4 F 0 1955 D 67239.766 D Reflects shares of common stock received in connection with the dividend paid by Sunstone Hotel Investors, Inc. on January 30, 2015 to stockholders of record as of December 31, 2014. On February 13, 2015, Sunstone Hotel Investors, Inc. (the "Company") granted 24,184 restricted shares of common stock to the Reporting Person pursuant to its 2004 Long-Term Incentive Plan. Such shares are subject to the satisfaction of vesting requirements over a three-year period. On February 15, 2015, 9,646 restricted shares of common stock (awarded to the Reporting Person on February 15, 2013) vested, and 3,830 shares of common stock were withheld to satisfy tax withholding obligations. The closing price on February 13, 2015 (as February 15, 2015 fell on a weekend) of common stock of Sunstone Hotel Investors, Inc. on the New York Stock Exchange was $17.49 per share. On February 16, 2015, 5,203 restricted shares of common stock (awarded to the Reporting Person on February 16, 2012) vested, and 1,955 shares of common stock were withheld to satisfy tax withholding obligations. The closing price on February 13, 2015 (as February 16, 2015 fell on a weekend) of common stock of Sunstone Hotel Investors, Inc. on the New York Stock Exchange was $17.49 per share. /s/ David R. Sloan 2015-02-18