Summit Hotel Properties Reports Director, Officer Changes

Ticker: INN-PF · Form: 8-K · Filed: May 23, 2024 · CIK: 1497645

Summit Hotel Properties, Inc. 8-K Filing Summary
FieldDetail
CompanySummit Hotel Properties, Inc. (INN-PF)
Form Type8-K
Filed DateMay 23, 2024
Risk Levelmedium
Pages4
Reading Time5 min
Key Dollar Amounts$0.01
Sentimentneutral

Sentiment: neutral

Topics: management-change, corporate-governance, filing

TL;DR

Summit Hotel Properties is shuffling its board and execs, filing an 8-K on May 22nd.

AI Summary

Summit Hotel Properties, Inc. filed an 8-K on May 22, 2024, reporting on the departure of directors, election of new directors, appointment of officers, and compensatory arrangements. The filing also covers matters submitted to a vote of security holders and includes financial statements and exhibits.

Why It Matters

This filing indicates significant changes in the company's leadership and governance structure, which could impact strategic decisions and investor confidence.

Risk Assessment

Risk Level: medium — Changes in directorship and officer appointments can signal shifts in strategy or internal dynamics that may affect the company's performance.

Key Players & Entities

  • Summit Hotel Properties, Inc. (company) — Registrant
  • May 22, 2024 (date) — Date of earliest event reported

FAQ

Who departed from Summit Hotel Properties, Inc.'s board or officer positions?

The filing indicates the departure of directors and certain officers, but specific names are not detailed in the provided text.

Were any new directors or officers appointed?

Yes, the filing explicitly mentions the election of directors and the appointment of certain officers.

What is the date of the earliest event reported in this 8-K filing?

The earliest event reported is dated May 22, 2024.

What other items are covered in this 8-K filing besides personnel changes?

The filing also covers submission of matters to a vote of security holders and includes financial statements and exhibits.

In which state is Summit Hotel Properties, Inc. incorporated?

Summit Hotel Properties, Inc. is incorporated in Maryland.

Filing Stats: 1,200 words · 5 min read · ~4 pages · Grade level 10.9 · Accepted 2024-05-23 16:53:36

Key Financial Figures

  • $0.01 — ange on which registered Common Stock, $0.01 par value INN New York Stock Exchange

Filing Documents

07. Submission of Matters to a Vote of Security Holders

Item 5.07. Submission of Matters to a Vote of Security Holders. On May 22, 2024, the Company held its Annual Meeting. There were 89,979,940 shares of common stock of the Company represented in person or by proxy at the meeting, constituting 83.62% of the outstanding shares of common stock on March 6, 2024, the record date for the Annual Meeting. The matters voted upon at the Annual Meeting and the final results of such voting are set forth below Proposal 1: To elect eight directors to the Company's Board of Directors. Name For Against Abstain Broker Non-Votes Bjorn R. L. Hanson 78,900,454 4,490,842 19,504 6,569,140 Jeffrey W. Jones 82,134,295 1,261,965 14,540 6,569,140 Kenneth J. Kay 81,874,639 1,518,948 17,213 6,569,140 Mehulkumar B. Patel 83,098,605 292,786 19,409 6,569,140 Amina Belouizdad Porter 79,663,996 3,729,828 16,976 6,569,140 Jonathan P. Stanner 82,221,359 1,172,337 17,104 6,569,140 Thomas W. Storey 79,040,286 4,353,411 17,103 6,569,140 Hope S. Taitz 64,482,540 18,911,293 16,967 6,569,140 All director nominees were duly elected at the Annual Meeting. Each of the individuals named in the above table will serve as director until the Company's 2025 annual meeting of stockholders and until his or her successor is duly elected and qualified. Proposal 2: To ratify the appointment of Ernst & Young LLP. For Against Abstain Broker Non-Votes 88,890,617 1,073,852 15,471 N/A At the Annual Meeting, stockholders ratified the appointment of Ernst & Young, LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024. Proposal 3: To approve an advisory (non-binding) resolution approving the compensation of the Company's named executive officers. For Against Abstain Broker Non-Votes 80,999,213 2,356,819 54,768 6,569,140 At the Annual Meeting, stockholders approved, on an advisory (non-binding) basis, a resolution approving the compensation of the Company's named executive officers. Proposa

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Summit Hotel Properties, Inc. 2024 Equity Incentive Plan 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. SUMMIT HOTEL PROPERTIES, INC. Date: May 23, 2024 By: /s/ Christopher R. Eng Christopher R. Eng Executive Vice President, General Counsel, Chief Risk Officer and Secretary

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