---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-001550"
form_type: "8-K"
ticker: "INN"
cik: "0001497645"
company_name: "Summit Hotel Properties, Inc."
filed_at: "2022-01-05T23:59:59+00:00"
generated_at: "2026-06-27T20:34:23.948437+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Executive Chairman Hansen to retire Jan 1, 2022; mutual release, $1M payment, equity amendments

## Summary
- Daniel P. Hansen retires as Executive Chairman effective Jan 1, 2022; mutual release of claims on Dec 31, 2021.
- Hansen receives $1,000,000 in 12 monthly installments, COBRA premium reimbursement for 12 months.
- Accelerated vesting of all unvested service-based restricted shares on retirement date.
- Performance-based stock award agreements amended to remove employment requirement for vesting.
- Seven-day revocation period for release; amendments filed as Exhibits 10.2 and 10.3.

## SEC filing metadata
- accession: 0001104659-22-001550
- form_type: 8-K
- ticker: INN
- cik: 0001497645
- company_name: Summit Hotel Properties, Inc.
- filed_at: 2022-01-05T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1497645/000110465922001550/0001104659-22-001550-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1497645/000110465922001550/tm221499d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-001550
- JSON: https://secwatch.observer/filing/0001104659-22-001550.json
- Plain text: https://secwatch.observer/filing/0001104659-22-001550.txt

## Key facts
- Executive change
  Daniel P. Hansen retired as Executive Chairman at Summit Hotel Properties, Inc..
  - Action: retired
  - Role: Executive Chairman
  source text: Daniel P. Hansen, Executive Chairman of the Company, notified the Company of his intent to retire from his position as Executive Chairman effective January 1, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1497645/000110465922001550/0001104659-22-001550-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.