Kelly Kevin M 4
4 · SIMON PROPERTY GROUP INC. · Filed Mar 13, 2026
Research Summary
AI-generated summary of this filing
Simon Property (SPG) Assistant GC Kevin Kelly Receives Awards
What Happened
- Kevin M. Kelly, Assistant General Counsel/Secretary of Simon Property Group (SPG), was awarded derivative compensation on March 11, 2026: 3,124 LTIP units and 990 restricted stock units (RSUs). The Form 4 reports the LTIP grant at $0.25 each (total $781) and the RSUs at $0.00.
- These were awards/grants (transaction code A) — not open-market purchases or sales — and represent long-term incentive compensation rather than an immediate cash investment.
Key Details
- Transaction date: March 11, 2026; Form 4 filed March 13, 2026 (timely filing).
- LTIP units: 3,124 units reported as earned on March 11, 2026 (reported price $0.25, total $781). These are derivative LTIP units under the Operating Partnership’s 2019 Stock Incentive Plan.
- RSUs: 990 restricted stock units reported at $0.00; each RSU represents the contingent right to one share at settlement.
- Vesting/settlement: Earned LTIP units vest on January 1, 2027 subject to continued service (with earlier vesting possible for death/disability, change in control, retirement with committee approval, etc.). RSUs vest on March 11, 2029 subject to continued service (with similar accelerated-vesting provisions). Vested RSUs will be settled in shares as soon as practicable.
- Shares owned after transaction: not specified in the provided excerpt of the filing.
- Footnotes: F1–F4 explain LTIP conversion mechanics (LTIP → Partnership Unit → exchangeable for Company shares or cash) and vesting details for both awards.
Context
- These awards are compensation grants and are common for executives and senior employees; they vest in the future and may convert to company stock or cash, so they do not reflect an immediate purchase or sale of shares. Such grants are informational about executive compensation and retention but are not a direct market commitment (unlike open-market purchases).
Insider Transaction Report
Form 4
Kelly Kevin M
ASST. GENERAL COUNSEL/SEC.
Transactions
- Award
LTIP Units
[F1][F2]2026-03-11$0.25/sh+3,124$781→ 3,124 total→ Common Stock (3,124 underlying) - Award
Restricted Stock Units
[F3][F4]2026-03-11+990→ 990 total→ Common Stock (990 underlying)
Footnotes (4)
- [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 3,124 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 3,124 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.
- [F3]Each Restricted Stock Unit ("RSU") represents the contingent right to receive, at settlement, one share of common stock of the Company.
- [F4]The RSUs are being issued pursuant to the Plan, in compliance with Rule 16b-3. The RSUs will vest on March 11, 2029, subject to a continued service requirement, or may vest and settle earlier due 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. Vested RSUs will be settled in shares of the Company's common stock as soon as practicable after the vesting date.
Signature
Kevin M. Kelly|2026-03-13