secwatch.observer — SEC 8-K summary
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Issuer:     Summit Hotel Properties, Inc. (INN)
CIK:        0001497645
Form:       8-K
Filed at:   2022-03-10T23:59:59+00:00
Accession:  0001104659-22-032488
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1497645/000110465922032488/0001104659-22-032488-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1497645/000110465922032488/tm228887d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-032488

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer