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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): May 13, 2021

 

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 D Cumulative Redeemable Preferred Stock, $0.01 par value INN-PD New York Stock Exchange
Series E Cumulative Redeemable Preferred Stock, $0.01 par value INN-PE 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 5.07. Submission of Matters to a Vote of Security Holders.

 

On May 13, 2021, the Company held its Annual Meeting of Stockholders (the “Annual Meeting”). There were 94,087,166 shares of common stock of the Company represented in person or by proxy at the meeting, constituting 89.00% of the outstanding shares of common stock on March 5, 2021, 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 seven directors to the Company’s Board of Directors.

 

Name  For   Against   Abstain   Broker Non-Votes 
Daniel P. Hansen   87,673,296    1,046,609    13,102    5,354,159 
Bjorn R.L. Hanson   87,331,551    1,387,116    14,340    5,354,159 
Jeffrey W. Jones   88,233,189    486,700    13,118    5,354,159 
Kenneth J. Kay   88,223,264    496,640    13,103    5,354,159 
Jonathan P. Stanner   88,297,442    422,368    13,197    5,354,159 
Thomas W. Storey   87,332,946    1,385,567    14,494    5,354,159 
Hope S. Taitz   76,817,881    11,903,067    12,059    5,354,159 

 

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 2022 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 
 93,268,056    765,298    53,812    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, 2021.

 

Proposal 3: To approve, on an advisory (non-binding) basis, the compensation of the Company’s named executive officers.

 

For   Against   Abstain   Broker Non-Votes 
 87,587,635    1,086,992    58,380    5,354,159 

 

At the Annual Meeting, stockholders approved, on an advisory (non-binding) basis, the compensation of the Company’s named executive officers.

 

Proposal 4: To approve the Company’s 2011 Equity Incentive Plan as Amended and Restated.

 

For   Against   Abstain   Broker Non-Votes 
 83,807,712    4,898,542    26,753    5,354,159 

 

At the Annual Meeting, stockholders approved the Company’s 2011 Equity Incentive Plan as Amended and Restated.

 

 

 

 

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.
     
  By: /s/ Christopher R. Eng
    Christopher R. Eng
    Executive Vice President, General Counsel,
Dated: May 13, 2021   Chief Risk Officer and Secretary