RUIZ PAUL 4

What Happened
Paul Ruiz, SVP and Chief Accounting Officer of Summit Hotel Properties, was granted two awards of restricted common stock on March 9, 2026: 42,572 time‑based shares and 63,858 performance‑based shares, for a total of 106,430 shares. Both grants were recorded at $0.00 per share (standard for restricted stock awards as compensation).

Key Details

• Transaction date: 2026-03-09 (reported on Form 4 filed 2026-03-10).
• Transaction code: A (award/grant). Price: $0.00.
• Grant breakdown: 42,572 time‑based restricted shares (F1) and 63,858 performance‑based restricted shares (F2) — total 106,430 shares.
• Vesting (F1 time‑based): 25% vest on 3/9/2027, 25% on 3/9/2028, and remaining 50% on 3/9/2029, contingent on continued employment.
• Vesting (F2 performance‑based): vesting on 3/9/2029 if Summit’s cumulative total shareholder return (TSR) from 3/9/2026–3/9/2029 exceeds 25.5% of its peer group; payout multiplier ranges from 25% to 200% of the granted shares based on relative TSR.
• Shares owned after the grant: not specified in the provided filing.
• Filing timeliness: Report filed next day (2026-03-10); not identified as late.

Context
These are restricted stock awards as part of executive compensation — time‑based shares vest with continued service, while performance‑based shares depend on relative TSR versus peers. Grants like this are routine compensation and do not represent an open‑market purchase or sale.