Simon Eli 4

What Happened

• Simon Eli, Chief Operating Officer of Simon Property Group (SPG), received two equity awards on March 11, 2026: 18,736 long‑term incentive performance (LTIP) units (reported at $0.25 each, $4,684 total) and 6,595 restricted stock units (RSUs) reported at $0.00. These are derivative grants (award code "A") rather than open‑market purchases or sales.

Key Details

• Transaction date: March 11, 2026; filing date: March 13, 2026 (timely).
• LTIP: 18,736 units reported at $0.25/unit (total $4,684). These were originally awarded on March 1, 2023 as performance awards and were determined to be earned at 100% by the Compensation Committee on March 11, 2026.
• RSUs: 6,595 units reported at $0.00/unit (total $0); granted pursuant to the company’s 2019 Stock Incentive Plan.
• Shares owned after the reported transactions: not specified in the filing.
• Footnote highlights:
  • LTIP units (F1–F2): represent performance‑based units in the Operating Partnership that, when earned and vested, convert to partnership units which may be exchanged for SPG common stock or cash. Earned LTIPs vest on January 1, 2027 subject to continued service (with earlier vesting in certain events).
  • RSUs (F3–F4): each RSU entitles the holder to one share at settlement; RSUs vest on March 11, 2029 subject to continued service (with customary early‑vesting exceptions).
• No indication of a 10b5‑1 plan, tax withholding sale, or late filing in this report.

Context

• These awards are grants/awards (not purchases or sales). LTIP units are performance‑based and remain subject to vesting and conversion mechanics before becoming actual shares (or cash). RSUs also do not deliver shares until vesting/settlement. As such, these filings reflect compensation awards and future potential equity rather than an immediate increase or decrease in marketable shares.