Eng Christopher R. 4

What Happened

• Christopher R. Eng, EVP, General Counsel, Chief Risk Officer & Secretary of Summit Hotel Properties (INN), received two equity awards on 2026-03-09: 44,346 time‑based restricted shares and 66,519 performance‑based restricted shares. Both grants are recorded at $0.00 per share (no cash exchanged) on the Form 4.

Key Details

• Transaction date: 2026-03-09; Form 4 filed 2026-03-10 (timely; within the usual 2-business-day window).
• Price: $0.00 per share; total consideration reported $0.
• Total shares granted: 110,865 (44,346 time‑based + 66,519 performance‑based).
• Shares owned after transaction: not disclosed in the information provided.
• Footnotes:
  • F1 (Time‑based): 44,346 restricted shares vest subject to continued service: 25% on 3/9/2027, 25% on 3/9/2028, and the remaining 50% on 3/9/2029.
  • F2 (Performance‑based): 66,519 restricted shares vest on 3/9/2029 only if cumulative total shareholder return (TSR) from 3/9/2026–3/9/2029 outperforms at least 25.5% of its peer group (includes certain Dow Jones U.S. Hotels Index constituents). Payout converts to 25%–200% of the granted shares depending on TSR performance.

Context

• These are restricted stock awards (compensation grants), not open‑market purchases or sales. The time‑based shares vest gradually; the performance shares are contingent on multi‑year TSR performance and may convert up or down based on results. Because the shares are subject to vesting and performance conditions, they are not immediately freely tradable.