Summit Hotel Properties approves 2022 executive comp: CEO salary $700K, time & performance shares

Summit Hotel Properties, Inc.

CEO Stanner base salary $700K, CFO Conkling $470K, EVP Eng $375K, SVP Ruiz $315K for 2022.
Time-based stock awards: Stanner 122,574 shares; Conkling 44,944; Eng 18,386; Ruiz 18,386; vest over 3 years.
Performance-based stock awards at target: Stanner 183,861 shares; Conkling 67,416; Eng 27,579; Ruiz 27,579; TSR vs hotel REIT peers.
Cash bonuses: CEO threshold 75% ($525K), target 150% ($1.05M), max 300% ($2.1M); weighted RevPAR, EBITDA, transactions, individual.
Compensation program developed with advisory from Frederic W. Cook & Co.

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