Eng Christopher R. 4
4 · Summit Hotel Properties, Inc. · Filed Mar 10, 2021
Insider Transaction Report
Form 4
Eng Christopher R.
VP, General Counsel & Sec.
Transactions
- Award
Common Stock (Performance-Based Vesting)
2021-03-08+26,264→ 210,678 total - Award
Common Stock (Time-Based Vesting)
2021-03-08+17,510→ 184,414 total
Footnotes (2)
- [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 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).
- [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 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.