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SIMON PROPERTY GROUP INC.·4

Mar 13, 12:28 PM ET

Frey Donald G 4

Research Summary

AI-generated summary

Updated

Simon Property (SPG) EVP Donald G. Frey Receives LTIP & RSU Awards

What Happened

  • Donald G. Frey, Executive Vice President and Treasurer of Simon Property Group (SPG), was awarded two types of long‑term compensation on March 11, 2026: 6,246 long‑term incentive performance (LTIP) units (reported at $0.25 each, total $1,562) and 990 restricted stock units (RSUs) (reported at $0.00).
  • These were awards (transaction code A) recorded as derivative acquisitions — not open‑market purchases or sales. LTIP units were determined to have been earned at 100% for the performance period; RSUs are a contingent right to receive shares on vesting.

Key Details

  • Transaction date: March 11, 2026; Filing date (Form 4): March 13, 2026 — appears timely (filed within the standard two business days).
  • LTIP award: 6,246 units @ $0.25 each (reported total $1,562). These were originally granted on March 1, 2023 as a maximum award and were certified at 100% on March 11, 2026.
  • RSU award: 990 RSUs @ $0.00 (reported $0).
  • Shares owned after transaction: Not specified in the excerpt provided.
  • Notable footnotes:
    • LTIP units are performance‑based units of the Operating Partnership that, when earned and vested, convert to Partnership Units, which may be exchanged for Company common stock or cash (F1, F2).
    • RSUs represent the right to receive one share per unit at settlement and will be settled in shares when they vest (F3, F4).
  • Vesting/conditions:
    • Earned LTIP units vest on January 1, 2027 subject to continued service (earlier vesting possible on death/disability, change of control, retirement with Committee approval, or other Committee determination).
    • RSUs vest on March 11, 2029 subject to continued service (earlier vesting possible under similar conditions).

Context

  • These are compensation awards tied to performance and service, not purchases or sales — they do not directly signal insider buying/selling intent. LTIP units are derivative awards tied to future conversion to partnership units or shares/cash; RSUs convert to shares upon vesting. The LTIP payout reflects achievement of performance metrics for the award granted in 2023.