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SIMON PROPERTY GROUP INC.·4

Mar 13, 12:13 PM ET

FIVEL STEVEN E 4

Research Summary

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Updated

Simon Property Group (SPG) GC Steven Fivel Receives Awards

What Happened
Steven E. Fivel, General Counsel of Simon Property Group (SPG), received two derivative compensation awards reported on 2026-03-11: 24,981 LTIP units at $0.25 each (reported total $6,245) and 4,616 Restricted Stock Units (RSUs) at $0.00. These are grants/awards (Form 4 transaction code A), not open-market purchases or sales.

Key Details

  • Transaction date: March 11, 2026 (filed March 13, 2026; filing appears timely).
  • Award 1: 24,981 LTIP units reported at $0.25 per unit — total reported value $6,245. These were originally granted on March 1, 2023 as a potential award; the Compensation Committee certified 100% vesting (24,981 units) on March 11, 2026. LTIP units are derivative interests in Simon Property Group, L.P. and may convert to Partnership Units and then be exchanged for Company common stock or cash. Vesting: these earned LTIP units vest January 1, 2027, subject to continued service and usual exceptions (death/disability, change of control, approved retirement, etc.).
  • Award 2: 4,616 RSUs reported at $0.00. Each RSU represents the right to receive one share of SPG common stock at settlement. Vesting: RSUs will vest on March 11, 2029, subject to continued service (with certain earlier vesting triggers per plan).
  • Shares owned after transaction: not specified in the provided filing excerpt.
  • Nature of transaction: Derivative awards/compensation (A). Not a market buy/sell — these are compensation grants and do not necessarily reflect immediate insider buying or selling.

Context

  • LTIP units are performance-based long-term incentive awards; the reporting shows the performance conditions were met and the units became earned on March 11, 2026, but they do not immediately convert to common shares — conversion/settlement and final transfer are subject to vesting and plan terms.
  • RSUs similarly represent contingent rights to future shares and will settle in stock when vested.
  • These awards are routine executive compensation, reported as derivative grants rather than open-market transactions.