4//SEC Filing
Boekelheide Kerry W 4
Accession 0001104659-13-000854
CIK 0001497645other
Filed
Jan 6, 7:00 PM ET
Accepted
Jan 7, 6:09 AM ET
Size
18.1 KB
Accession
0001104659-13-000854
Insider Transaction Report
Form 4
Boekelheide Kerry W
DirectorExecutive Chairman
Transactions
- Exercise/Conversion
Common Stock
2013-01-02+1,409,552→ 1,473,658 total - Other
OP Units
2012-09-30−108,316→ 1,392,563 total(indirect: By entity affiliated with filer)From: 2012-02-14→ Common Stock (108,316 underlying) - Other
OP Units
2012-09-30+208,570→ 225,570 totalFrom: 2012-02-14→ Common Stock (208,570 underlying) - Other
OP Units
2012-09-30+1,183,993→ 1,409,563 totalFrom: 2012-02-14→ Common Stock (1,183,993 underlying) - Exercise/Conversion
OP Units
2013-01-02−1,409,552→ 11 totalFrom: 2012-02-14→ Common Stock (1,409,552 underlying)
Holdings
- 17,000
OP Units
From: 2012-02-14→ Common Stock (0 underlying) - 1,500,879(indirect: By entity affiliated with filer)
OP Units
From: 2012-02-14→ Common Stock (0 underlying)
Footnotes (8)
- [F1]Represents common units of limited partnership interest ("OP Units") in Summit Hotel OP, LP, the operating partnership of the Issuer (the "Operating Partnership"). On February 14, 2011, the Operating Partnership issued an aggregate of 1,517,879 OP Units to the Reporting Person and certain entities affiliated with the Reporting Person.
- [F2]Holders of OP Units have redemption rights that enable them to cause the Operating Partnership to redeem their OP Units for cash or, at the option of the Issuer, for shares of Common Stock on a one-for-one basis beginning one year after the issuance of the OP Units.
- [F3]Not applicable.
- [F4]On September 30, 2012, certain entities affiliated with the Reporting Person were dissolved and an aggregate of 108,316 OP Units were distributed by these entities to individuals who are not affiliated with the Issuer and 208,570 OP Units were distributed by these entities to the Reporting Person.
- [F5]The value of each OP Unit distributed on September 30, 2012 was $8.54, based on the price per share of the Issuer's common stock on September 28, 2012.
- [F6]On September 30, 2012, The Summit Group Inc. ("SGI"), an entity that was wholly owned by the Reporting Person, distributed an aggregate of 1,183,993 OP Units to the Reporting Person.
- [F7]On October 17, 2012, the Reporting Person tendered for redemption an aggregate of 1,409,552 OP Units in accordance with the Operating Partnership's partnership agreement. On January 2, 2012, the Issuer issued an aggregate of 1,409,552 shares of common stock to the Reporting Person in connection with the Reporting Person's redemption request.
- [F8]The value of each OP Unit tendered for redemption by the Reporting Person was $9.62 as of the redemption date, based on the price per share of the Issuer's common stock on January 2, 2012.
Documents
Issuer
Summit Hotel Properties, Inc.
CIK 0001497645
Entity typeother
Related Parties
1- filerCIK 0001360512
Filing Metadata
- Form type
- 4
- Filed
- Jan 6, 7:00 PM ET
- Accepted
- Jan 7, 6:09 AM ET
- Size
- 18.1 KB