Summit Hotel (INN) CFO William Conkling Surrenders 123,233 Shares

What Happened
William Conkling, Chief Financial Officer of Summit Hotel Properties, reported two dispositions on 2026-03-13 totaling 123,233 shares. He surrendered 29,969 shares to the issuer to satisfy tax withholding on vested restricted stock (no cash received), and 93,264 shares that were subject to performance-based vesting were forfeited because performance metrics were not met. All dispositions were reported at $0 per share, so there were no sale proceeds to the reporting person.

Key Details

• Transaction dates: March 13, 2026 (reported on Form 4 filed March 16, 2026). Filing was within the required two business days.
• Transactions and codes: 29,969 shares surrendered for tax withholding (code F); 93,264 shares forfeited/returned to issuer due to unmet performance conditions (code D).
• Price/Proceeds: $0 per share — these were administrative dispositions (no open-market sale).
• Total shares removed from the reporting person's holdings: 123,233 shares.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: F1 confirms shares surrendered to satisfy tax withholding on vested restricted stock; F2 confirms forfeiture of performance-based shares under the 2011 Equity Incentive Plan due to performance metrics not being met.

Context
These transactions reflect routine equity-plan administration (tax withholding and forfeiture) rather than market sales or purchases. They do not indicate an open-market sale or a new purchase and should not be interpreted on their own as a signal of the insider’s view of the company’s stock.