RULLI JOHN 4

What Happened
John Rulli, Chief Administrative Officer of Simon Property Group (SPG), sold 10,000 shares of common stock in an open-market sale on February 25, 2026. The shares were disposed at $200.88 per share for a total transaction value of $2,008,800. This was a sale (transaction code S), which is typically routine liquidity rather than a clear bullish signal.

Key Details

• Transaction date: 2026-02-25 (reported on Form 4 filed 2026-02-26). Filing appears timely (reported the next day).
• Price and value: 10,000 shares @ $200.88 = $2,008,800.
• Shares owned after transaction: Not specified in the information provided in your prompt.
• Footnote: F1 — includes 71 shares acquired under the issuer’s dividend reinvestment plan since the filer’s prior Form 4 filed April 3, 2025.
• No 10b5-1 plan, gift, option exercise, or tax-withholding notation was indicated in the provided details.

Context
Sales by officers can be for many neutral reasons (diversification, taxes, personal liquidity) and do not by themselves indicate a change in company outlook. Purchases are generally more informative for bullish signals; this single open-market sale should be viewed as a routine insider disposition unless additional filings or patterns suggest otherwise.