RULLI JOHN 4
4 · SIMON PROPERTY GROUP INC. · Filed Mar 13, 2026
Research Summary
AI-generated summary of this filing
Simon Property (SPG) Chief Administrative Officer John Rulli Receives Award
What Happened
John Rulli, Chief Administrative Officer of Simon Property Group (SPG), was granted 24,981 long-term incentive performance (LTIP) units on March 11, 2026. The filing reports an acquisition price of $0.25 per unit, a total reported value of $6,245. The award is a derivative grant (not an immediate share purchase) under the Operating Partnership’s 2019 Stock Incentive Plan.
Key Details
- Transaction date: 2026-03-11; Form 4 filed 2026-03-13 (appears timely).
- Transaction type/code: A (Grant/Award of derivative LTIP units).
- Units granted: 24,981 LTIP units at $0.25 each; total reported value $6,245.
- Shares/units owned after transaction: Not disclosed in this filing.
- Footnotes:
- F1 — LTIP units are performance-based units of the Operating Partnership that, when earned and vested, can convert into Partnership Units; each Partnership Unit may be exchanged for a share of the Company’s common stock or cash.
- F2 — These 24,981 units were awarded originally on March 1, 2023 subject to performance; the Compensation Committee determined on March 11, 2026 that performance was met at 100% (24,981 earned). The earned LTIP units vest on January 1, 2027 subject to continued service and certain other conditions (or earlier upon death, disability, change in control, retirement with committee approval, or as otherwise determined).
Context
This was a performance-based long-term incentive award, not an open-market purchase or sale. The units are derivative in nature and do not immediately convert to common stock—vesting and potential conversion/exchange occur later per the plan terms. Such awards are part of executive compensation and do not directly signal a buy or sell decision by the insider.
Insider Transaction Report
- Award
LTIP Units
[F1][F2]2026-03-11$0.25/sh+24,981$6,245→ 270,878 total→ Common Stock (24,981 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 2019 Stock Incentive Plan (the "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 March 1, 2023, the Reporting Person was awarded a maximum of 24,981 LTIP units, subject to certain performance conditions. On March 11, 2026, the Compensation and Human Capital Committee (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 24,981 of the LTIP units becoming earned LTIP units. The earned LTIP units vest on January 1, 2027, subject to a continued service requirement, or may vest earlier due to the Reporting Person's death or disability, a change of control of the Company, the retirement of the Reporting Person, subject to the approval of the Company's Compensation Committee, or as may otherwise be determined by the Company's Compensation Committee in accordance with the terms of the grant agreement and the Plan.