Summit Hotel Properties (INN) CFO receives major restricted stock grants

Rhea-AI Filing Summary

Conkling William Higgins reported acquisition or exercise transactions in this Form 4 filing.

Summit Hotel Properties EVP & CFO Conkling William Higgins reported two equity awards of common stock as compensation. On March 9, 2026, he was granted 126,386 shares of time-based restricted stock under the 2024 Equity Incentive Plan, vesting in stages through March 9, 2029.

He also received 189,579 shares of performance-based restricted stock that may vest on March 9, 2029 if service conditions are met and the company’s cumulative total shareholder return from March 9, 2026 to March 9, 2029 exceeds at least 25.5% of a specified peer group, with payout ranging from 25% to 200% of the granted shares. After these grants, he directly holds 969,514 shares of common stock.

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^*

Conkling William Higgins

(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)
	EVP & Chief Financial 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		126,386(1)	A	$0	779,935	D
Common Stock	03/09/2026		A		189,579(2)	A	$0	969,514	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. 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.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transaction did Summit Hotel Properties (INN) report for EVP & CFO Conkling William Higgins?

Summit Hotel Properties reported that EVP & CFO Conkling William Higgins received two grants of restricted common stock on March 9, 2026, totaling 315,965 shares, as part of the company’s 2024 Equity Incentive Plan, rather than making any open-market purchases or sales.

How many Summit Hotel Properties (INN) shares were granted to the CFO in the latest Form 4?

The CFO received 126,386 time-based restricted shares and 189,579 performance-based restricted shares of Summit Hotel Properties common stock. These awards were granted at no cash cost to him under the company’s 2024 Equity Incentive Plan as part of his compensation.

What are the vesting terms for the time-based restricted stock granted to the Summit Hotel Properties (INN) CFO?

The time-based restricted stock vests over three dates: 25% on March 9, 2027, another 25% on March 9, 2028, and the remaining 50% on March 9, 2029, contingent on the CFO’s continued employment with Summit Hotel Properties.

How does performance affect the CFO’s performance-based restricted stock at Summit Hotel Properties (INN)?

The performance-based restricted stock may vest on March 9, 2029 if the CFO remains employed and Summit Hotel Properties’ cumulative total shareholder return from March 9, 2026 to March 9, 2029 exceeds at least 25.5% of a defined peer group’s performance.

What is the potential payout range for the Summit Hotel Properties (INN) CFO’s performance-based shares?

The number of performance-based restricted shares ultimately earned can range from 25% to 200% of the 189,579 shares granted. The final amount depends on Summit Hotel Properties’ total shareholder return relative to its specified peer group over the performance period.

How many Summit Hotel Properties (INN) shares does the CFO hold after these Form 4 grants?

Following the reported grants, the CFO directly holds 969,514 shares of Summit Hotel Properties common stock. This figure reflects his updated direct ownership position as disclosed in the latest Form 4 insider filing with the SEC.