Summit Hotel Properties, Inc. EVP and Chief Financial Officer Michael Steiner Nieves filed a Form 4 on November 3, 2026, reporting the acquisition of 106,765 shares of restricted common stock on November 1, 2026, at no cost under the company's 2024 Equity Incentive Plan.

Key Highlights

  • Grant date: The transaction was recorded on November 1, 2026.
  • Shares granted: 106,765 shares of restricted common stock were acquired at a price of $0.
  • Resulting ownership: Following the transaction, the reporting person directly beneficially owns 106,765 shares.
  • Vesting schedule: 25% of the shares vest on November 1, 2027; 25% on November 1, 2028; and the remaining 50% on November 1, 2029, subject to continued service.
  • Plan source: The grant was made under Summit Hotel Properties' 2024 Equity Incentive Plan.
  • Reporting person's role: Michael Steiner Nieves is identified in the filing as EVP and Chief Financial Officer of the issuer.

Restricted Stock Grant Details for CFO Michael Steiner Nieves

According to the Form 4 filed with the SEC on November 3, 2026, Michael Steiner Nieves, EVP and Chief Financial Officer of Summit Hotel Properties, Inc. (NYSE:INN), reported the acquisition of 106,765 shares of restricted common stock. The transaction was coded "A" (acquired) with a price of $0, meaning the shares were granted rather than purchased on the open market. The filing lists this as a direct ownership position.

The filing discloses that the restricted shares were granted under the issuer's 2024 Equity Incentive Plan and are subject to time-based vesting conditions. Specifically, the filing states that the shares "shall become vested and nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer, on November 1, 2027 (25% of the shares granted), November 1, 2028 (25% of the shares granted) and November 1, 2029 (the remaining 50% of the shares granted)."

No derivative securities were reported in Table II of the filing. The Form 4 was signed by Christopher R. Eng as Attorney-in-Fact on November 3, 2026, and was filed as a report by one reporting person. No amendment date was indicated, suggesting this is an original filing.

What Was Disclosed

Summit Hotel Properties CFO Michael Steiner Nieves reported receiving 106,765 restricted common stock shares on November 1, 2026, under the company's 2024 Equity Incentive Plan, with vesting occurring in three tranches through November 1, 2029, contingent on continued employment.