The equity grants tie Christopher R. Eng’s compensation to both long-term retention and the company’s shareholder return performance against hospitality industry

March 11, 2026

Summit Hotel Properties, Inc. (ticker: INN), a lodging-focused real estate investment trust headquartered in Austin, Texas, recently awarded a significant equity compensation package to one of its senior leaders. Christopher R. Eng, who serves as Executive Vice President, General Counsel, Chief Risk Officer, and Secretary, received two separate grants of restricted common stock on March 9, 2026, under the company’s 2024 Equity Incentive Plan.

Time-Based Award

The first grant consisted of 44,346 shares of restricted common stock subject to time-based vesting. These shares will vest in three tranches, provided Eng remains employed with the company through each milestone:

• 25% vesting on March 9, 2027
• 25% vesting on March 9, 2028
• 50% vesting on March 9, 2029

Performance-Based Award

The second grant included 66,519 shares of restricted common stock tied to performance-based vesting. These shares are scheduled to vest on March 9, 2029, contingent on both continued employment and the company’s cumulative total shareholder return over a three-year measurement period beginning March 9, 2026.

To trigger any vesting, Summit Hotel Properties must outperform at least 25.5% of its peer group, composed of certain constituents of the Dow Jones U.S. Hotels Index. Depending on relative TSR performance, the actual number of shares that convert could range from 25% to 200% of the original grant, creating meaningful upside for strong outperformance.

Ownership and Broader Context

Both awards were issued at no cost to the executive. Following the transactions, Eng’s direct beneficial ownership of Summit Hotel Properties common stock totaled 469,835 shares.

The dual-structure compensation approach reflects a growing trend among hospitality REITs seeking to align executive incentives with both retention and long-term shareholder value creation. The time-based component encourages sustained commitment, while the performance-based shares directly link pay to how the company performs relative to industry peers over a multi-year horizon.

The securities disclosure was signed on March 10, 2026, one day after the transaction date.