Summit Hotel (INN) SVP granted time- and performance-based stock awards

Rhea-AI Filing Summary

Summit Hotel Properties, Inc. reported that SVP & Chief Accounting Officer Paul Ruiz received two grants of restricted common stock under the company’s 2024 Equity Incentive Plan. The awards are coded as acquisitions and increase his directly held common stock to 429,016 shares after the transactions.

One grant is subject to time-based vesting, becoming fully vested in stages on March 9, 2027, March 9, 2028, and March 9, 2029, contingent on continued employment. The other grant is performance-based and can vest on March 9, 2029, depending on the company’s cumulative total shareholder return versus a Dow Jones U.S. Hotels Index peer group, with payout ranging from 25% to 200% of the granted shares.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

RUIZ PAUL

(Last) (First) (Middle)

13215 BEE CAVE PARKWAY,

SUITE B-300

(Street)

AUSTIN TX 78738

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Summit Hotel Properties, Inc. [ INN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP & Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/09/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/09/2026		A		42,572(1)	A	$0	365,158	D
Common Stock	03/09/2026		A		63,858(2)	A	$0	429,016	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. 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).

2. Performance 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 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.

Remarks:

	/s/ Christopher R. Eng, as Attorney-in-Fact	03/10/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transactions did INN executive Paul Ruiz report?

Paul Ruiz reported two acquisitions of restricted common stock under Summit Hotel Properties’ 2024 Equity Incentive Plan. Both awards were granted at $0.00 per share, increasing his directly held common stock position following the transactions.

How many Summit Hotel Properties (INN) shares does Paul Ruiz hold after the grants?

After the reported grants, Paul Ruiz directly holds 429,016 shares of Summit Hotel Properties common stock. This figure comes from the Form 4 totals shown after the second award on March 9, 2026, reflecting his updated direct ownership.

How do the time-based restricted stock awards for INN vest for Paul Ruiz?

The time-based award vests in stages if employment continues. Restricted shares become 25% vested on March 9, 2027, another 25% on March 9, 2028, and the remaining 50% on March 9, 2029, when they become fully vested and nonforfeitable.

What are the performance conditions on Paul Ruiz’s INN restricted stock?

The performance-based restricted shares vest on March 9, 2029 if he remains employed and Summit Hotel Properties’ cumulative total shareholder return exceeds at least 25.5% of its peer group from March 9, 2026 to March 9, 2029.

How can the number of INN performance-based shares earned by Paul Ruiz vary?

The performance-based grant can convert between 25% and 200% of the shares granted. The final number depends on Summit Hotel Properties’ cumulative total shareholder return relative to its Dow Jones U.S. Hotels Index peer group during the stated performance period.

Under which plan were Paul Ruiz’s INN restricted stock awards granted?

Both restricted stock awards were granted under Summit Hotel Properties’ 2024 Equity Incentive Plan. This plan provides time-based and performance-based equity awards that vest over several years, aligning executive compensation with long-term company performance.