Farrugia Marc 4

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.