Form 4 for INN Summit Hotel Properties, Inc.
Accepted 2024-03-11 00:00:00 ET · period of report 2024-03-08 · accession 0001104659-24-033062 · 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| M | 2024-03-11 | 2024-03-08 | INN | Conkling William Higgins | EVP, CFO | A - Grant | $0.00 | +185.2K | 496.9K | +59% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock (Performance-Based Vesting) | 2024-03-08 | A | A | 111,111 | $0.00 | 607,964 | D | — | — | (F2) Represents shares of restricted common stock granted to the reporting person under the Issuer's 2011 Equity Incentive Plan as amended and restated effective May 13, 2021. The restricted shares shall become vested and nonforfeitable on March 8, 2027, 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 8, 2024 and ending March 8, 2027 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. |
| 2 | Common | Common Stock (Time-Based Vesting) | 2024-03-08 | A | A | 74,074 | $0.00 | 496,853 | D | — | — | (F1) Represents shares of restricted common stock granted to the reporting person under the Issuer's 2011 Equity Incentive Plan as amended and restated effective May 13, 2021. 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, 2025 (25% of the shares granted), March 9, 2026 (25% of the shares granted) and March 9, 2027 (the remaining 50% of the shares granted). |