Summit Hotel (NYSE: INN) CEO surrenders shares for tax and forfeits awards

Rhea-AI Filing Summary

Summit Hotel Properties, Inc. reported that President and CEO Jonathan P. Stanner disposed of common stock in connection with equity compensation events, rather than open-market trading. On March 13, 2026, he surrendered 98,492 shares to the company to satisfy tax withholding tied to vesting of previously issued restricted stock.

On the same date, he also forfeited 256,477 performance-based shares back to the company because the required performance metrics were not met. After these dispositions, he directly holds 2,099,813 shares of Summit Hotel Properties common stock, showing he retains a substantial equity stake despite these non-cash, compensation-related adjustments.

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^*

Stanner Jonathan P

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President, CEO & Director

3. Date of Earliest Transaction (Month/Day/Year)
03/13/2026

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	03/13/2026		F		98,492(1)	D	$0	2,356,290	D
Common Stock	03/13/2026		D		256,477(2)	D	$0	2,099,813	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. Represents shares of common stock surrendered to the Issuer to satisfy the reporting person's tax withholding obligations related to vesting of previously issued restricted common stock awards.

2. Represents shares of common stock that were subject to performance-based vesting conditions previously granted to the reporting person under the Issuer's 2011 Equity Incentive Plan As Amended and Restated that were forfeited as a result of performance metrics not being met.

Remarks:

	/s/ Christopher R. Eng, as Attorney-in-Fact	03/16/2026
	** 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 transactions did Summit Hotel Properties (INN) report for Jonathan P. Stanner?

Summit Hotel Properties reported that CEO Jonathan P. Stanner surrendered shares for tax withholding and forfeited performance-based shares back to the company, both related to equity awards. These were non-market dispositions, not open-market purchases or sales of stock.

How many Summit Hotel Properties shares did the CEO surrender for tax withholding?

Jonathan P. Stanner surrendered 98,492 shares of Summit Hotel Properties common stock to satisfy tax withholding obligations. This was linked to the vesting of previously issued restricted stock awards and did not involve an open-market sale of shares for cash proceeds.

Why were 256,477 Summit Hotel Properties shares forfeited by the CEO?

The 256,477 forfeited shares were tied to performance-based vesting conditions under the company’s equity incentive plan. They were returned to the issuer because the specified performance metrics were not achieved, so those performance awards did not ultimately vest for the CEO.

Did the Summit Hotel Properties CEO sell any shares on the open market in this Form 4?

The filing does not show any open-market sales. Instead, it reports a tax-withholding share surrender and a forfeiture of performance-based awards to the issuer, both non-cash compensation-related events rather than discretionary market trades by the CEO.

How many Summit Hotel Properties (INN) shares does the CEO hold after these transactions?

After the reported tax-withholding surrender and forfeiture, Jonathan P. Stanner directly holds 2,099,813 shares of Summit Hotel Properties common stock. This reflects his ongoing equity stake following the routine adjustment of his restricted and performance-based stock awards.

What do the Form 4 footnotes reveal about the CEO’s Summit Hotel Properties transactions?

The footnotes explain that 98,492 shares were surrendered solely to cover tax obligations from restricted stock vesting, while 256,477 shares were forfeited because performance targets were not met. These disclosures clarify that the changes arose from compensation plan mechanics, not market trading decisions.