4//SEC Filing
Patel Mehulkumar Bhikhubhai 4
Accession 0001104659-22-005504
CIK 0001497645other
Filed
Jan 18, 7:00 PM ET
Accepted
Jan 19, 5:08 PM ET
Size
8.1 KB
Accession
0001104659-22-005504
Insider Transaction Report
Form 4
Patel Mehulkumar Bhikhubhai
Director
Transactions
- Other
Partnership Units
2022-01-13$10.09/sh+479,295$4,833,834→ 479,295 total(indirect: By LLC)From: 2022-07-13→ Common Stock (479,295 underlying) - Award
Common Stock
2022-01-13$10.00/sh+3,234$32,334→ 3,234 total
Footnotes (2)
- [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.
Documents
Issuer
Summit Hotel Properties, Inc.
CIK 0001497645
Entity typeother
Related Parties
1- filerCIK 0001905508
Filing Metadata
- Form type
- 4
- Filed
- Jan 18, 7:00 PM ET
- Accepted
- Jan 19, 5:08 PM ET
- Size
- 8.1 KB