McLaren John Bandini 4

What Happened

• John Bandini McLaren, President & Chief Operating Officer of Sun Communities, received two awards on March 27, 2026: 2,389 restricted shares valued at $125.57 each (total value $299,987) and 4,690 performance rights granted at $0 (derivative award). These were reported on a Form 4 filed March 31, 2026. This is an executive compensation grant (award), not an open‑market purchase or sale.

Key Details

• Transaction date: March 27, 2026. Filing date: March 31, 2026 (timely).
• Restricted shares: 2,389 shares at $125.57 per share — total reported value $299,987.
• Performance rights: 4,690 rights granted at $0 (derivative award); no immediate cash paid.
• Vesting for restricted shares (F1): time‑vested — 797 shares vest on March 27, 2027; 796 shares vest on March 27, 2028 and 796 on March 27, 2029.
• Performance rights (F2): each right converts to one common share if earned; payout ranges from 0%–200% of target based on three‑year performance against TSR and certain financial metrics; unearned rights are forfeited.
• Shares owned after the transaction: not specified in this filing.

Context

• These grants are standard long‑term incentive compensation for executives and do not represent an open‑market purchase or sale. The restricted stock carries time‑based vesting; the performance rights are contingent on multi‑year performance targets, so actual shares delivered (and any stock value realized) will depend on future results.