Equity LifeStyle (NYSE: ELS) EVP Eldersveld logs tax share withholdings and new restricted stock grants

Rhea-AI Filing Summary

Equity LifeStyle Properties executive David P. Eldersveld reported several stock transactions involving company common shares. On February 3, 2026, he had a series of share withholdings for tax payments tied to vesting restricted stock, each coded as "F" at prices of $63.20 per share. The same day, he received two restricted stock awards coded as "A" totaling 16,478 and 4,682 shares at $64.07 per share. The filing states that, after these transactions, he directly owned 117,808 shares, subject to service-based and performance-based vesting schedules extending to 2029.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Eldersveld David P

(Last) (First) (Middle)

C/O EQUITY LIFESTYLE PROPERTIES, INC.

TWO NORTH RIVERSIDE PLAZA, SUITE 800

(Street)

CHICAGO IL 60606

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
EQUITY LIFESTYLE PROPERTIES INC [ ELS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, CLO and Secretary

3. Date of Earliest Transaction (Month/Day/Year)
02/03/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $.01	02/03/2026		F(1)		787	D	$63.2	100,329	D
Common Stock, par value $.01	02/03/2026		F(1)		674	D	$63.2	99,655	D
Common Stock, par value $.01	02/03/2026		F(1)		728	D	$63.2	98,927	D
Common Stock, par value $.01	02/03/2026		F(1)		729	D	$63.2	98,198	D
Common Stock, par value $.01	02/03/2026		F(1)		775	D	$63.2	97,423	D
Common Stock, par value $.01	02/03/2026		F(1)		775	D	$63.2	96,648	D
Common Stock, par value $.01	02/03/2026		A(2)		16,478	A	$64.07	113,126	D
Common Stock, par value $.01	02/03/2026		A(3)		4,682	A	$64.07	117,808	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents the withholding of shares for the payment of tax liablity incurred upon vesting of restricted shares.

2. Restricted stock award, one-half of the award will vest in equal annual installments, subject to satisfaction of the service requirement, on February 2, 2027, February 1, 2028 and February 6, 2029; and one-half of the award will be subject to performance-based vesting conditions and will vest in equal annual installments, subject to satisfaction of such performance-based conditions and the service requirement, on February 2, 2027, February 1, 2028 and February 6, 2029.

3. Restricted stock award, one-half of the award will vest, subject to satisfaction of the service requirement, on February 2, 2027, and one-half of the award will be subject to performance-based vesting conditions and will vest, subject to satisfaction of such performance-based conditions and the service requirement, on February 2, 2027.

Remarks:

	Jennifer Krebs by Power of Attorney for David P. Eldersveld	02/05/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider activity did ELS executive David P. Eldersveld report?

David P. Eldersveld reported tax-related share withholdings and new restricted stock awards. Several small "F" transactions covered taxes on vesting restricted stock, while two "A" transactions granted 16,478 and 4,682 shares, increasing his direct holdings to 117,808 Equity LifeStyle Properties shares.

How many Equity LifeStyle Properties (ELS) shares does Eldersveld own after these Form 4 transactions?

After the reported transactions, Eldersveld directly owns 117,808 shares of Equity LifeStyle Properties common stock. This figure reflects both the tax withholding transactions coded "F" and the restricted stock awards coded "A" reported as of February 3, 2026 in the Form 4 filing.

What do the tax withholding transactions on ELS stock represent in this Form 4?

The "F" coded transactions represent shares withheld to cover tax liabilities from vesting restricted shares. Instead of paying cash, a portion of Eldersveld’s vested Equity LifeStyle Properties shares was retained at $63.20 per share to satisfy withholding obligations on February 3, 2026.

What are the vesting terms of Eldersveld’s new ELS restricted stock awards?

The filing states the new restricted stock awards vest in tranches between February 2027 and February 2029. Portions vest annually based on continued service, while the remaining portions depend on performance-based conditions plus service requirements, spreading potential vesting dates across 2027, 2028, and 2029.

Is David P. Eldersveld an officer of Equity LifeStyle Properties (ELS)?

Yes. The Form 4 identifies David P. Eldersveld as an officer of Equity LifeStyle Properties, serving as EVP, CLO and Secretary. The reported common stock transactions and restricted stock awards therefore reflect activity by a senior member of the company’s executive leadership team.