Form 4 for INN Summit Hotel Properties, Inc.

Accepted 2022-01-19 00:00:00 ET · period of report 2022-01-13 · accession 0001104659-22-005504 · SEC index · Original document

Summary rows

Aggregated the way they appear in lists: one row per insider, transaction code and security table.

X	Filed	Traded	Ticker	Insider	Title	Type	Price	Qty	Owned	ΔOwn	Value
D	2022-01-19	2022-01-13	INN	Patel Mehulkumar Bhikhubhai	Dir	A - Grant	$10.00	+3,234	3,234	New	+$32.3K
DI	2022-01-19	2022-01-13	INN	Patel Mehulkumar Bhikhubhai	Dir	J - Other	$10.09	+479.3K	479.3K	New	+$4.84M

Purchase Sale Sale after option exercise All abbreviations

#	Table	Security	Date	Code	A/D	Shares	Price	Owned after	Own	Exercise / expiry	Underlying	Footnotes
1	Common	Common Stock	2022-01-13	A	A	3,234	$10.00	3,234	D	—	—
2	Derivative	Partnership Units	2022-01-13	J	A	479,295	$10.09	479,295	I By Sagestar Family, LLC	— · 2022-07-13 to —	479,295 Common Stock	(F1) Represents common units of limited partnership interest ("OP Units") in Summit Hotel OP, LP, the operating partnership of the Issuer (the "Operating Partnership"). Each OP Unit is redeemable, after July 13, 2022, for cash equal to the then fair market value of one share of the Issuer's common stock, except that the Operating Partnership may, at its election, cause the Issuer to acquire some or all of the OP Units so presented on a one-for-one basis for shares of the Issuer's common stock. These redemption rights have no expiration date. (F2) OP Units issued to an entity partially owned by the reporting person in connection with the consummation of the contribution of certain properties to the Operating Partnership or its affiliate pursuant to the Contribution and Purchase Agreement, executed as of November 2, 2021, by and among the Operating Partnership, Summit Hospitality JV, LP, NewcrestImage Holdings, LLC and NewcrestImage Holdings II, LLC . The reporting person disclaims any beneficial ownership of such OP Units, except to the extent of his pecuniary interest therein.