Summit Hotel (NYSE: INN) CFO surrenders and forfeits restricted stock

Rhea-AI Filing Summary

Summit Hotel Properties EVP & CFO William Higgins Conkling reported two non-market share disposals of common stock. On March 13, 2026, he surrendered 29,969 shares to the company to cover tax withholding on vesting of previously issued restricted stock awards and forfeited 93,264 performance-based shares because the required performance metrics were not met.

After these transactions, he directly owns 846,281 shares of Summit Hotel Properties 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)
03/13/2026

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		29,969(1)	D	$0	939,545	D
Common Stock	03/13/2026		D		93,264(2)	D	$0	846,281	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 its CFO?

Summit Hotel Properties reported that EVP & CFO William Higgins Conkling disposed of common shares through tax withholding and forfeiture. These events were tied to vesting and performance conditions on prior equity awards, not open-market buying or selling activity.

How many Summit Hotel (INN) shares were surrendered for taxes by the CFO?

The CFO surrendered 29,969 shares of Summit Hotel Properties common stock to the company. This satisfied his tax withholding obligations related to the vesting of previously issued restricted common stock awards, according to the Form 4 footnote disclosure.

How many performance-based Summit Hotel (INN) shares were forfeited by the CFO?

The CFO forfeited 93,264 shares of common stock that were subject to performance-based vesting conditions. These shares were granted under the 2011 Equity Incentive Plan and were forfeited because the specified performance metrics were not met.

How many Summit Hotel Properties (INN) shares does the CFO own after these transactions?

Following the reported tax-withholding and forfeiture transactions, the CFO directly owns 846,281 shares of Summit Hotel Properties common stock. This figure reflects his remaining direct holdings after both non-market disposals on March 13, 2026.

Were the Summit Hotel (INN) CFO’s Form 4 transactions open-market sales?

The transactions were not reported as open-market sales. One entry reflects shares surrendered to the issuer for tax withholding on vested restricted stock, and the other is a disposition to the issuer due to unmet performance conditions on performance-based awards.

What equity plan governed the forfeited Summit Hotel (INN) performance shares?

The forfeited performance-based shares were granted under Summit Hotel Properties’ 2011 Equity Incentive Plan As Amended and Restated. They were subject to performance-based vesting conditions and were forfeited when those performance metrics were not achieved.