Sun Communities (SUI) CFO Robert Garechana Receives Equity Awards

What Happened

• Robert Garechana, EVP, CFO & Treasurer of Sun Communities, Inc. (SUI), was granted equity awards on September 8, 2026. He received 6,374 restricted shares at an imputed price of $117.65 per share (aggregate value $749,901) and 16,255 performance rights (recorded at $0 at grant as they are contingent/derivative).

Key Details

• Transaction date: September 8, 2026; Form 4 filed September 9, 2026 (timely filing).
• Award 1: 6,374 restricted shares @ $117.65; total reported value $749,901. These shares are time‑vested: 2,125 vest on Sept 8, 2027; 2,125 on Sept 8, 2028; and 2,124 on Sept 8, 2029 (Footnote F1).
• Award 2: 16,255 performance rights @ $0 (derivative). Each right can convert to one share if performance targets are met; payout ranges from 0%–200% of target based on total shareholder return vs peers and certain financial goals over a three‑year performance period (Footnote F2). Unachieved awards are forfeited.
• Shares owned after transaction: not reported in the provided filing extract.
• Filing status: timely (transaction 2026-09-08; Form 4 filed 2026-09-09).

Context

• These grants are compensation awards (code A) rather than open‑market purchases or sales, so they are part of regular executive pay and not a direct buy/sell signal. Performance rights are contingent and only convert to shares if preset performance criteria are met over the multi‑year period.