0001104659-24-033062.txt : 20240311 0001104659-24-033062.hdr.sgml : 20240311 20240311170043 ACCESSION NUMBER: 0001104659-24-033062 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20240308 FILED AS OF DATE: 20240311 DATE AS OF CHANGE: 20240311 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Conkling William Higgins CENTRAL INDEX KEY: 0001861105 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-35074 FILM NUMBER: 24738940 MAIL ADDRESS: STREET 1: 13215 BEE CAVE PARKWAY, SUITE B-300 CITY: AUSTIN STATE: TX ZIP: 78738 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Summit Hotel Properties, Inc. CENTRAL INDEX KEY: 0001497645 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 272962512 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 13215 BEE CAVE PARKWAY STREET 2: SUITE B-300 CITY: AUSTIN STATE: TX ZIP: 78738 BUSINESS PHONE: 512-538-2300 MAIL ADDRESS: STREET 1: 13215 BEE CAVE PARKWAY STREET 2: SUITE B-300 CITY: AUSTIN STATE: TX ZIP: 78738 4 1 tm248399-1_4seq1.xml OWNERSHIP DOCUMENT X0508 4 2024-03-08 0 0001497645 Summit Hotel Properties, Inc. INN 0001861105 Conkling William Higgins 13215 BEE CAVE PARKWAY, SUITE B-300 AUSTIN TX 78738 0 1 0 0 EVP & Chief Financial Officer 0 Common Stock (Time-Based Vesting) 2024-03-08 4 A 0 74074 0 A 496853 D Common Stock (Performance-Based Vesting) 2024-03-08 4 A 0 111111 0 A 607964 D 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). 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. /s/ Christopher R. Eng, as Attorney-in-Fact 2024-03-11