Bright Force Investment, LLC - Jan 13, 2022 Form 3 Insider Report for Summit Hotel Properties, Inc. (INN)

Role: 10%+ Owner
Signature: BRIGHT FORCE INVESTMENT, LLC By: /s/ Chirag Patel Name: Chirag Patel Title: Manager
Stock symbol: INN
Transactions as of: Jan 13, 2022
Transactions value $: $0
Form type: 3
Date filed: 1/19/2022, 04:09 PM
Next filing: Mar 25, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	INN	Partnership Units							Jan 13, 2022	Common Stock	14.4M		See Footnote	F1, F2, F3, F4

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

Explanation of Responses:

Id	Content
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 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.
F2	OP Units issued 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.
F3	Up to 991,542 OP Units may be redeemed immediately and the remaining 13,364,362 OP Units may be redeemed at any time after July 13, 2022. These redemption rights have no expiration date.
F4	Held directly by Bright Force Investment, LLC, a limited liability company wholly-owned by NewcrestImage Holdings, LLC.