Mehulkumar Bhikhubhai Patel - 02 Jan 2025 Form 4 Insider Report for Summit Hotel Properties, Inc. (INN)

Role: Director
Signature: /s/ Mehulkumar Patel
Issuer symbol: INN
Transactions as of: 02 Jan 2025
Net transactions value: $0
Form type: 4
Filing time: 06 Jan 2025, 16:10:24 UTC
Previous filing: 29 May 2024
Next filing: 22 May 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	INN	Common Stock	Conversion of derivative security	$0	+479,295		$0.000000	479,295	02 Jan 2025	By Sagestar Family, LLC	F1
holding	INN	Common Stock						46,275	02 Jan 2025	Direct

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
transaction	INN	Partnership Units	Conversion of derivative security	$0	-479,295	-100%	$0.000000	0	02 Jan 2025	Common Stock	479,295		By Sagestar Family, LLC	F2

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

Explanation of Responses:

Id	Content
F1	Shares of common stock of the Issuer issued to an entity partially owned by the reporting person in connection with the redemption of common units of limited partnership interest ("OP Units") in Summit Hotel OP, LP, the operating partnership of the Issuer (the "Operating Partnership"). The reporting person disclaims any beneficial ownership of such shares of common stock, except to the extent of his pecuniary interest therein.
F2	Represents OP Units in 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 to one basis for shares of the Issuer's common stock. These redemption rights have no expiration date.

Content

Shares of common stock of the Issuer issued to an entity partially owned by the reporting person in connection with the redemption of common units of limited partnership interest ("OP Units") in Summit Hotel OP, LP, the operating partnership of the Issuer (the "Operating Partnership"). The reporting person disclaims any beneficial ownership of such shares of common stock, except to the extent of his pecuniary interest therein.

Represents OP Units in 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 to one basis for shares of the Issuer's common stock. These redemption rights have no expiration date.