Edgar Filing: Hansen Daniel P

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Hansen Daniel P

2. Issuer Name and Ticker or Trading Symbol
Summit Hotel Properties, Inc. [INN]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
President & CEO

(Last)

(First)

(Middle)

2701 SOUTH MINNESOTA AVE., STE. 2

3. Date of Earliest Transaction (Month/Day/Year)
04/25/2012

(Street)

SIOUX FALLS, SD 57105

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/25/2012		A		35,000 ⁽¹⁾	A	$ 0	68,740	D
Common Stock	04/25/2012		A		25,305 ⁽²⁾ ⁽³⁾	A	$ 0	94,045	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Hansen Daniel P 2701 SOUTH MINNESOTA AVE., STE. 2 SIOUX FALLS, SD 57105	X		President & CEO

Signatures

/s/ Christopher R. Eng, as Attorney-in-Fact		06/22/2012
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Represents shares of restricted common stock granted to the reporting person by the Issuer's Board of Directors under a time-based stock award agreement. 25%, 25% and 50% of the restricted shares shall become vested and nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer, on December 31, 2012, December 31, 2013, and December 31, 2014, respectively.
(2)	Represents shares of restricted common stock granted to the reporting person by the Issuer's Board of Directors under a performance-based stock award agreement. The restricted shares shall become vested and nonforfeitable in one-third increments on January 1, 2013, January 1, 2014 and January 1, 2015, if the reporting person remains in the continued service as an employee of the Issuer and the Issuer's total stockholder return ("TSR") in each one-year period commencing January 1, 2012 equals or exceeds the total return of the SNL U.S. Lodging REIT Index (the "Index Return") for the same period. Two-thirds of the shares (reduced by the number of shares (reduced by the number already vested) shall vest on January 1, 2014 if the Issuer's TSR for the two-year period commencing January 1, 2012 equals or exceeds the Index Return for the same period...
(3)	All of the shares (reduced by the number already vested) shall vest on January 1, 2015 if the Issuer's TSR for the three-year period commencing January 1, 2012 equals or exceeds the Index Return for the same period.

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