Summit Hotel Properties, Inc. (Form: 8-K, Received: 01/31/2022 17:02:07)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 31, 2022

SUMMIT HOTEL PROPERTIES, INC.
(Exact Name of Registrant as Specified in its Charter)

Maryland

001-35074

27-2962512

(State or Other Jurisdiction

of Incorporation or Organization)

(Commission File Number)

(I.R.S. Employer Identification No.)

13215 Bee Cave Parkway, Suite B-300

Austin, Texas 78738
(Address of Principal Executive Offices) (Zip Code)

(512) 538-2300
(Registrants’ telephone number, including area code)

Not applicable
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value	INN	New York Stock Exchange
Series E Cumulative Redeemable Preferred Stock, $0.01 par value	INN-PE	New York Stock Exchange
Series F Cumulative Redeemable Preferred Stock, $0.01 par value	INN-PF	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

¨	Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 5.02.

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 31, 2022, Craig J. Aniszewski, Executive Vice President and Chief Operating Officer of Summit Hotel Properties, Inc. (the “Company”) notified the Company of his intent to retire from his position effective March 1, 2022. There were no disagreements between Mr. Aniszewski and the Company.

Item 7.01.

Regulation FD Disclosure

On January 31, 2022, the Company issued a press release announcing the retirement of Craig J. Aniszewski as Executive Vice President and Chief Operating Officer of the Company effective March 1, 2022.

A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is hereby incorporated by reference into this Item 7.01.

This Current Report on Form 8-K contains statements that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. These forward-looking statements relate to the expected retirement of Craig J. Aniszewski and the expected timing of such. Forward-looking statements are based on certain assumptions which can include future expectations, future plans and strategies, financial and operating projections or other forward-looking information.

These forward-looking statements are subject to various risks and uncertainties, not all of which are known to the Company and many of which are beyond the Company’s control, which could cause actual results to differ materially from such statements. These risks and uncertainties include, but are not limited to, the state of the U.S. economy, supply and demand in the hotel industry and other factors as are described in greater detail in the Company’s filings with the Securities and Exchange Commission, including, without limitation, the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Unless legally required, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Item 9.01.

Financial Statements and Exhibits.

(d)

Exhibits

99.1

Press release issued on January 31, 2022.

104

Cover Page Interactive Data File (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.

Dated: January 31, 2022	SUMMIT HOTEL PROPERTIES, INC.


	By:	/s/ Christopher R. Eng
		Christopher R. Eng
		Executive Vice President, General Counsel, Chief Risk Officer and Secretary

Exhibit 99.1

13215 Bee Cave Parkway, Suite B-300, Austin, TX 78738

Telephone: 512-538-2300 Fax: 512-538-2333

www.shpreit.com

NEWS RELEASE

Summit Hotel Properties Announces Retirement of

Craig Aniszewski as Chief Operating Officer

Austin, Texas, January 31, 2022 --- Summit Hotel Properties, Inc. (NYSE: INN) (“Summit” or the “Company”) today announced that Craig J. Aniszewski, its Executive Vice President and Chief Operating Officer, plans to retire from the Company on March 1, 2022. In his 25 years with Summit and its predecessor, Mr. Aniszewski has been integral to the Company’s success through his leadership of Summit’s operations, design and construction functions.

Jonathan P. Stanner, the Company’s President and Chief Executive Officer, noted, "I want to sincerely thank Craig for his tremendous contributions to our growth and success over the years and wish him the very best in retirement. Craig’s ability to produce results and develop his team has been exceptional and I’ve been privileged to have him as a partner. We are fortunate to have two highly qualified and experienced individuals being promoted as part of the succession plan for Craig. I look forward to continuing to work closely with Larry Trowbridge and Greg James to ensure a successful and seamless transition.”

Mr. Trowbridge, who leads the Company’s design and construction functions, and Mr. James, who leads the Company’s asset management and revenue strategy functions, have been with the Company and its predecessor for nearly 20 years and 15 years, respectively, and each provide over 30 years of industry experience. Together they will continue to build on Mr. Aniszewski’s achievements in developing and leading a best-in-class asset management team, proprietary revenue strategy platform, and sophisticated in-house design and construction capabilities.

About Summit Hotel Properties

Summit Hotel Properties, Inc. is a publicly traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the Upscale segment of the lodging industry. As of January 31, 2022, the Company’s portfolio consisted of 100 hotels, 61 of which are wholly owned, with a total of 15,051 guestrooms located in 24 states.

For additional information, please visit the Company’s website, www.shpreit.com, and follow the Company on Twitter at @SummitHotel_INN.

Contact:

Adam Wudel

SVP – Finance & Capital Markets

Summit Hotel Properties

(512) 538-2325

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Forward Looking Statements

This press release contains statements that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identifiable by use of forward-looking terminology such as “may,” “will,” “should,” “potential,” “intend,” “expect,” “seek,” “anticipate,” “estimate,” “approximately,” “believe,” “could,” “project,” “predict,” “forecast,” “continue,” “plan,” “likely,” “would,” or other similar words or expressions. Forward-looking statements are based on certain assumptions and can include future expectations, future plans and strategies, financial and operating projections or other forward-looking information. Examples of forward-looking statements include the expected retirement of Mr. Aniszewski and the expected timing of such. These forward-looking statements are subject to various risks and uncertainties, not all of which are known to the Company and many of which are beyond the Company’s control, which could cause actual results to differ materially from such statements. These risks and uncertainties include, but are not limited to, the state of the U.S. economy, supply and demand in the hotel industry and other factors as are described in greater detail in the Company’s filings with the Securities and Exchange Commission (“SEC”). Unless legally required, the Company disclaims any obligation to update any information contained in this news release, whether as a result of new information, future events or otherwise.

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