Farrugia Marc 4
4 · SUN COMMUNITIES INC · Filed Mar 31, 2026
Research Summary
AI-generated summary of this filing
Sun Communities (SUI) EVP Marc Farrugia Receives Stock Awards
What Happened
Marc Farrugia, Executive Vice President & Chief Administrative Officer of Sun Communities (SUI), was granted equity awards on March 27, 2026. He received 4,778 restricted shares valued at $125.57 each (total value ≈ $599,973) and 9,382 performance rights (derivative awards) recorded at $0.00 in the filing. The restricted shares vest over three years; the performance rights are contingent and may pay out between 0% and 200% of target based on multi-year performance metrics.
Key Details
- Transaction date: 2026-03-27; Form 4 filed: 2026-03-31 (reports the 3/27/2026 transactions).
- Awarded restricted shares: 4,778 shares @ $125.57 (total ≈ $599,973).
- Awarded performance rights (derivative): 9,382 @ $0.00 (contingent; value depends on performance).
- Vesting schedule for restricted shares (Footnote F1): 1,593 shares vest on Mar 27, 2027; 1,593 on Mar 27, 2028; 1,592 on Mar 27, 2029.
- Performance right details (Footnote F2): each right converts to one share if earned; payout 0–200% of target based on total shareholder return vs. peers and certain financial targets over a three-year performance period; unearned rights are forfeited.
- Shares owned after the transaction: not provided in the excerpt.
- Transaction code: A = Award/Grant (compensation), not an open-market purchase or sale.
Context
These awards are compensation-related grants rather than purchases or sales and are subject to time- and performance-based vesting. Restricted stock represents a direct equity grant that vests over time; performance rights are contingent and only convert to stock if performance goals are met. Such grants are common for executives and don't by themselves indicate a buy/sell market signal.
Insider Transaction Report
- Award
COMMON STOCK, $0.01 PAR VALUE
[F1]2026-03-27$125.57/sh+4,778$599,973→ 51,274 total - Award
PERFORMANCE RIGHT
[F2]2026-03-27+9,382→ 9,382 total→ COMMON STOCK, $0.01 PAR VALUE (9,382 underlying)
- 11,301(indirect: By Trust)
COMMON STOCK, $0.01 PAR VALUE
- 939(indirect: By Spouse)
COMMON STOCK, $0.01 PAR VALUE
Footnotes (2)
- [F1]Restricted stock: all shares are subject to time vesting; 1,593 of these time vesting shares vest on each of March 27, 2027 and 2028, and 1,592 shares vest on March 27, 2029.
- [F2]Each performance right represents a contingent right to receive one share of common stock of Sun Communities, Inc (the "Company"). The target number of shares of common stock is set forth in columns 5 and 7 of Table II. Between 0% and 200% of the target number will be earned based on the achievement of performance criteria related to the Company's total shareholder return relative to industry indices and to certain of the Company's financial results over a three-year performance period. Any shares that do not vest at the end of the performance period will be forfeited.