Kelly Kevin M 4

What Happened

• Kevin M. Kelly, Assistant General Counsel & Secretary of Simon Property Group (SPG), was awarded 1,361 shares of restricted common stock on 2026-04-01. To cover tax withholding obligations related to the vesting, 478 of those shares were surrendered/withheld (disposed) at a reported withholding value of $186.53 per share (total $89,161). The restricted stock is subject to forfeiture until vesting conditions are satisfied.

Key Details

• Transaction dates: 2026-04-01 (award and tax-withholding); Form 4 filed 2026-04-02.
• Award: 1,361 shares (transaction code A — grant/award/acquisition); price: N/A for award.
• Tax withholding: 478 shares (transaction code F — tax withholding/settlement) at $186.53 per share; total reported value $89,161.
• Net immediate increase from the award after withholding: 1,361 − 478 = 883 shares (assuming no other dispositions).
• Shares owned after the transaction: not specified in the provided filing information.
• Footnotes: F1 — award is restricted stock under the 2019 Stock Incentive Plan and is subject to forfeiture until vesting; F2 — 478 shares surrendered to satisfy tax withholding; F3 — filing notes 2 additional shares acquired via dividend reinvestment since the prior Form 4 (Mar 4, 2026).
• Timeliness: Filing appears timely (transaction 4/1/2026; Form 4 filed 4/2/2026).

Context

• This was an award/vesting event, not an open-market sale or option exercise. The withholding of shares to cover taxes is routine and does not necessarily indicate a change in the insider’s view of the stock. Restricted shares remain subject to vesting conditions and potential forfeiture until those conditions are met.