0001104659-23-031299.txt : 20230310
0001104659-23-031299.hdr.sgml : 20230310
20230310171944
ACCESSION NUMBER: 0001104659-23-031299
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230308
FILED AS OF DATE: 20230310
DATE AS OF CHANGE: 20230310
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Stanner Jonathan P
CENTRAL INDEX KEY: 0001704002
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-35074
FILM NUMBER: 23724777
MAIL ADDRESS:
STREET 1: 12600 HILL COUNTRY BLVD
STREET 2: SUITE R-100
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]
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
tm239150-4_4seq1.xml
OWNERSHIP DOCUMENT
X0306
4
2023-03-08
0
0001497645
Summit Hotel Properties, Inc.
INN
0001704002
Stanner Jonathan P
13215 BEE CAVE PARKWAY,
SUITE B-300
AUSTIN
TX
78738
1
1
0
0
President, CEO & Director
Common Stock (Time-Based Vesting)
2023-03-08
4
A
0
170984
0
A
939358
D
Common Stock (Performance-Based Vesting)
2023-03-08
4
A
0
256477
0
A
1195835
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, 2024 (25% of the shares granted), March 9, 2025 (25% of the shares granted) and March 9, 2026 (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, 2026, 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, 2023 and ending March 8, 2026 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, Attorney-in-Fact
2023-03-10