SIMON DAVID 4

What Happened

• David Simon, CEO/Chairman/President and Director of Simon Property Group (SPG), received a grant of 124,901 long‑term incentive performance ("LTIP") units on March 11, 2026. The units are reported at $0.25 each for a total reported value of $31,225. This transaction is an award/grant (derivative), not an open‑market purchase or sale.

Key Details

• Transaction date: 2026-03-11; filing date (Form 4): 2026-03-13.
• Transaction type/code: A — Award/Grant (derivative LTIP units).
• Units granted: 124,901 LTIP units at $0.25 per unit; reported value $31,225.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Timeliness: Form 4 filed March 13, 2026 (covers period 2026-03-11); appears filed within the usual reporting window.
• Footnotes:
  • F1: LTIP units are long‑term incentive performance units of the Operating Partnership; when earned and vested they can convert to partnership units, which may be exchanged for shares of the Company's common stock or cash.
  • F2: These 124,901 units were originally awarded March 1, 2023 as a maximum award subject to performance. On March 11, 2026 the Compensation Committee determined the performance measures were met at 100%, so 124,901 units became earned LTIP units. Earned units vest Jan 1, 2027 subject to continued service (or earlier vesting in certain situations per the grant/plan).

Context

• This filing reports a compensation award (derivative LTIP units) rather than an ordinary market buy or sell. The units are "earned" based on performance but generally do not convert immediately into common stock — vesting and any conversion/exchange to shares or cash are subject to the plan terms and service/other conditions.