Conkling William Higgins 4
4 · Summit Hotel Properties, Inc. · Filed Mar 10, 2026
Research Summary
AI-generated summary of this filing
Summit Hotel (INN) CFO William Conkling Receives Restricted Shares
What Happened William Conkling, Chief Financial Officer of Summit Hotel Properties, received two restricted stock awards on March 9, 2026: 126,386 shares and 189,579 shares, for a total of 315,965 shares. Both grants were reported as awards (code A) with an acquisition price of $0.00 (i.e., no cash paid). These are restricted common stock awards, not open‑market purchases or sales.
Key Details
- Transaction date: March 9, 2026; Form 4 filed March 10, 2026 (timely filing).
- Grant details:
- 126,386 shares — time‑based vesting (F1): 25% vest on 3/9/2027, 25% on 3/9/2028, and remaining 50% on 3/9/2029, subject to continued employment.
- 189,579 shares — performance‑based (F2): vests (if at all) on 3/9/2029 contingent on Summit’s cumulative total shareholder return (TSR) vs. a peer group; threshold is 25.5% relative TSR for the period 3/9/2026–3/9/2029. The performance award converts in a range from 25% to 200% of the shares granted depending on relative TSR.
- Price and value: reported acquisition price $0.00; reported value $0 (award).
- Shares owned after transaction: not disclosed in the Form 4 filing.
- Filing timeliness: filed one day after the transaction date (appears timely).
Context These awards are restricted stock grants that vest over time and/or upon meeting performance targets. They do not represent an immediate cash outlay by the insider nor an immediate sale of shares — instead they align compensation with continued service and company performance. Performance awards can increase or decrease the final number of shares that vest (here 25%–200%), so the ultimate ownership impact depends on future performance and continued employment.
Insider Transaction Report
- Award
Common Stock
[F1]2026-03-09+126,386→ 779,935 total - Award
Common Stock
[F2]2026-03-09+189,579→ 969,514 total
Footnotes (2)
- [F1]Time Based Vesting - Represents shares of restricted common stock granted to the reporting person under the Issuer's 2024 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, 2027 (25% of the shares granted), March 9, 2028 (25% of the shares granted) and March 9, 2029 (the remaining 50% of the shares granted).
- [F2]Represents shares of restricted common stock granted to the reporting person under the Issuer's 2024 Equity Incentive Plan. The restricted shares shall become vested and nonforfeitable on March 9, 2029, 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 March 9, 2026, and ending March 9, 2029, exceeds at least 25.5% of its peer group, which shall include certain constituents of the Dow Jones U.S. Hotels 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.