SIMON PROPERTY GROUP INC /DE/ 4
4 · SIMON PROPERTY GROUP INC /DE/ · Filed Feb 27, 2014
Insider Transaction Report
Form 4
BARKLEY JAMES M
General Counsel
Transactions
- Award
LTIP Units
2014-02-26$0.25/sh+67,121$16,780→ 211,417 total→ Common Stock (67,121 underlying)
Footnotes (2)
- [F1]Represents long-term incentive performance ("LTIP") units of Simon Property Group, L.P. (the "Operating Partnership"), of which Simon Property Group, Inc. (the "Company") is the general partner, issued as long-term incentive compensation pursuant to the Operating Partnership's 1998 Stock Incentive Plan in compliance with Rule 16b-3. When earned and vested, each LTIP unit may be converted into a unit of limited partnership interest ("Partnership Unit"). Each Partnership Unit may be exchanged for a share of the Company's common stock, or cash, as selected by the Company.
- [F2]On July 6, 2011, the reporting person was awarded a maximum of 67,121 LTIP units, subject to certain performance conditions. On February 26, 2014, the Compensation Committee of the Board of Directors of the Company determined that the extent to which the performance measures had been achieved during the performance period resulted in 100%, or 67,121, of the LTIP units becoming earned LTIP units. The earned LTIP units vest in two equal installments on January 1, 2015 and January 1, 2016 subject to a continued service requirement.