Leupold Craig 4

What Happened

• Craig Leupold, a director of Sun Communities, Inc. (SUI), received a grant (derivative award) representing the right to 1,617 shares of restricted common stock on 2026-02-05. The filing lists the transaction type as an award/grant (code A) and shows no price or immediate cash exchanged (N/A).

Key Details

• Transaction date: February 5, 2026; Form 4 filed February 9, 2026.
• Transaction type: Award/Grant (Derivative right to receive restricted common stock). Price/consideration: N/A.
• Shares reported in this transaction: 1,617 rights to restricted shares.
• Shares owned after transaction: not specified in the filing.
• Footnotes:
  • F3: These 1,617 rights were granted 2/5/2026 and, per the Non‑Employee Directors Deferred Compensation Plan, Leupold elected to defer receipt until February 2029; they vest on 2/5/2029 if he remains a director.
  • F1/F2: The filing also references prior director awards (grants from 2/28/2024 and 1/8/2025) that were deferred to 2/28/2027 and 1/8/2028, respectively, and vest only if the reporting person remains a director.
• Filing timeliness: The Form 4 was filed 4 days after the transaction (filed 2/9 for a 2/5 transaction). Form 4s are generally due within 2 business days, so this appears later than standard timing.

Context

• This is a deferred restricted‑share award (a right to receive shares in the future if vesting conditions are met), not an open‑market purchase or sale. Such grants are routine for non‑employee directors as part of compensation and do not, by themselves, indicate a personal buy/sell signal. The award vests on the specified future date only if Leupold remains a director.