Summit Hotel Properties, Inc. 4
4 · Summit Hotel Properties, Inc. · Filed Mar 5, 2015
Insider Transaction Report
Form 4
Dowell Greg A
EVP and CFO
Transactions
- Award
Common Stock (Time-Based Vesting)
2015-03-03+18,615→ 20,615 total - Award
Common Stock (Performance-Based Vesting)
2015-03-03+27,923→ 48,538 total
Footnotes (2)
- [F1]Represents shares of restricted common stock granted to the reporting person under the Issuer's 2011 Equity Incentive Plan. 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, 2016 (25% of the shares granted), March 9, 2017 (25% of the shares granted) and March 9, 2018 (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. The restricted shares shall become vested and nonforfeitable on January 1, 2018, 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 January 1, 2015 and ending December 31, 2017 exceeds at least 25.5% of its peer group, which shall include all of the 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.