LEWIS RANDALL J 4

What Happened
Randall J. Lewis, a director of Simon Property Group (SPG), reported an open-market purchase of 56 shares on 2026-03-31 at $183.80 per share, for a total of about $10,293. The Form 4 lists the transaction code P (purchase).

Key Details

• Transaction date and price: 2026-03-31 — 56 shares at $183.80 each.
• Total value: approximately $10,293.
• Transaction type: Open-market purchase (code P).
• Shares owned after transaction: Not specified in this filing.
• Footnote F1: These shares "represent shares of common stock acquired through the reinvestment of dividends received on restricted stock awarded to the Reporting Person as non-cash compensation under the Simon Property Group, L.P. 2019 Stock Incentive Plan."
• Filing date: 2026-04-01 (appears timely; no late-filing indication).

Context
Insider purchases are often noted by investors because they can signal confidence, but small buys (this is roughly a $10k purchase) should be viewed in context with other activity and company fundamentals. The footnote indicates these shares relate to dividend reinvestment on restricted stock awards, which is a common non-cash compensation mechanism and not the same as a large-scale, discretionary buy.