William Higgins Conkling - 17 May 2021 Form 4 Insider Report for Summit Hotel Properties, Inc. (INN)

Role: EVP & Chief Financial Officer
Signature: /s/ Christopher R. Eng, Attorney-in-Fact
Issuer symbol: INN
Transactions as of: 17 May 2021
Net transactions value: $0
Form type: 4
Filing time: 18 May 2021, 16:47:23 UTC
Next filing: 10 Mar 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	INN	Common Stock (Time-Based Vesting)	Award	$0	+76,531		$0.000000	76,531	17 May 2021	Direct	F1
transaction	INN	Common Stock (Time-Based Vesting)	Award	$0	+42,802	+56%	$0.000000	119,333	17 May 2021	Direct	F2
transaction	INN	Common Stock (Performance-Based Vesting)	Award	$0	+64,202	+54%	$0.000000	183,535	17 May 2021	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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 June 15, 2015. The restricted shares shall become vested and nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer, on May 17, 2022 (25% of the shares granted), May 17, 2023 (25% of the shares granted) and May 17, 2024 (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 June 15, 2015. 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, 2022 (25% of the shares granted), March 9, 2023 (25% of the shares granted) and March 9, 2024 (the remaining 50% of the shares granted).
F3	Represents shares of restricted common stock granted to the reporting person under the Issuer's 2011 Equity Incentive Plan as amended and restated effective June 15, 2015. 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, 2021 and ending March 8, 2024 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.