Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|
transaction | INN | Common Stock | Award | $32.3K | +3.23K | $10.00 | 3.23K | Jan 13, 2022 | Direct |
Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
transaction | INN | Partnership Units | Other | $4.83M | +479K | $10.09 | 479K | Jan 13, 2022 | Common Stock | 479K | By Sagestar Family, LLC | F1, F2 |
Id | Content |
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F1 | Represents common units of limited partnership interest ("OP Units") in Summit Hotel OP, LP, the operating partnership of the Issuer (the "Operating Partnership"). Each OP Unit is redeemable, after July 13, 2022, for cash equal to the then fair market value of one share of the Issuer's common stock, except that the Operating Partnership may, at its election, cause the Issuer to acquire some or all of the OP Units so presented on a one-for-one basis for shares of the Issuer's common stock. These redemption rights have no expiration date. |
F2 | OP Units issued to an entity partially owned by the reporting person in connection with the consummation of the contribution of certain properties to the Operating Partnership or its affiliate pursuant to the Contribution and Purchase Agreement, executed as of November 2, 2021, by and among the Operating Partnership, Summit Hospitality JV, LP, NewcrestImage Holdings, LLC and NewcrestImage Holdings II, LLC . The reporting person disclaims any beneficial ownership of such OP Units, except to the extent of his pecuniary interest therein. |