Stanner Jonathan P 4

What Happened

• Jonathan P. Stanner, President, CEO and Director of Summit Hotel Properties, Inc. (INN), was granted two awards of restricted common stock on March 9, 2026: 292,683 shares and 439,024 shares. Both grants were reported at $0.00 per share (awards, not purchases), for a total of 731,707 shares awarded. These are compensation awards, not open-market buys or sales.

Key Details

• Transaction date(s): March 9, 2026. Report filed March 10, 2026 (timely; Form 4 is due within two business days).
• Pricing: Both grants reported at $0.00 (restricted stock awards).
• Shares awarded: 292,683 (Footnote F1) and 439,024 (Footnote F2); total 731,707 shares.
• Shares owned after transaction: Not specified in the provided excerpt (see the full Form 4 for total holdings).
• Vesting / conditions:
  • F1 (292,683 shares): Time-based vesting — 25% on 3/9/2027, 25% on 3/9/2028, and remaining 50% on 3/9/2029, contingent on continued employment.
  • F2 (439,024 shares): Performance-based award — vests on 3/9/2029 if cumulative TSR over 3/9/2026–3/9/2029 exceeds at least 25.5% of the peer group (includes certain Dow Jones U.S. Hotels Index constituents). The award converts at 25%–200% of the granted shares depending on TSR performance.
• Filing timeliness: Filed the next day (Mar 10, 2026) for the Mar 9, 2026 transactions — appears timely under Form 4 rules.

Context

• These grants are restricted stock awards as part of executive compensation. Time‑based awards vest over multiple years with continued employment; the larger performance award vests only if the company’s total shareholder return outperforms a defined peer benchmark and may convert up or down (25%–200%) based on performance. Such awards are routine forms of long‑term incentive compensation and do not represent market purchases or sales.