0001104659-22-032504.txt : 20220310
0001104659-22-032504.hdr.sgml : 20220310
20220310171742
ACCESSION NUMBER: 0001104659-22-032504
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20220308
FILED AS OF DATE: 20220310
DATE AS OF CHANGE: 20220310
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: RUIZ PAUL
CENTRAL INDEX KEY: 0001116526
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-35074
FILM NUMBER: 22730113
MAIL ADDRESS:
STREET 1: 3200 WILCREST DRIVE SUITE 370
CITY: HOUSTON
STATE: TX
ZIP: 77042
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Summit Hotel Properties, Inc.
CENTRAL INDEX KEY: 0001497645
STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798]
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
tm228885-3_4seq1.xml
OWNERSHIP DOCUMENT
X0306
4
2022-03-08
0
0001497645
Summit Hotel Properties, Inc.
INN
0001116526
RUIZ PAUL
13215 BEE CAVE PARKWAY,
SUITE B-300
AUSTIN
TX
78738
0
1
0
0
SVP & Chief Accounting Officer
Common Stock (Time-Based Vesting)
2022-03-08
4
A
0
18386
0
A
182131
D
Common Stock (Performance-Based Vesting)
2022-03-08
4
A
0
27579
0
A
209710
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, 2023 (25% of the shares granted), March 9, 2024 (25% of the shares granted) and March 9, 2025 (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, 2024, 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, 2022 and ending March 8, 2025 exceeds at least 25.5% of its peer group, which shall include certain constituents of the SNL US REIT Hotel 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
2022-03-10