Equity Lifestyle Properties (NYSE: ELS) EVP reports tax withholding and new stock awards

Rhea-AI Filing Summary

Equity Lifestyle Properties EVP Daniel Perlis reported equity compensation activity involving company common stock. On February 3, 2026, he had a total of 1,828 shares withheld at $63.2 per share to cover tax liabilities on vesting restricted shares. The same day, he received two restricted stock awards totaling 6,504 shares at a grant price of $64.07 per share. After these transactions, Perlis directly held 14,188 common shares. The footnotes explain that portions of these restricted stock awards will vest in future years, subject to continued service and performance-based conditions.

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^*

Perlis Daniel

(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 Sales, Mktg, Business Dev

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)		569	D	$63.2	8,943	D
Common Stock, par value $.01	02/03/2026		F(1)		283	D	$63.2	8,660	D
Common Stock, par value $.01	02/03/2026		F(1)		327	D	$63.2	8,333	D
Common Stock, par value $.01	02/03/2026		F(1)		649	D	$63.2	7,684	D
Common Stock, par value $.01	02/03/2026		A(2)		4,943	A	$64.07	12,627	D
Common Stock, par value $.01	02/03/2026		A(3)		1,561	A	$64.07	14,188	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 Daniel Perlis	02/05/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What did ELS executive Daniel Perlis report in this Form 4 filing?

Daniel Perlis, EVP Sales, Marketing and Business Development at Equity Lifestyle Properties (ELS), reported tax-related share withholding and new restricted stock awards in company common stock. These transactions reflect equity compensation activity, not open-market buying or selling.

How many ELS shares were withheld for Daniel Perlis’s taxes?

A total of 1,828 ELS common shares were withheld at $63.2 per share to cover tax liabilities from vesting restricted shares. These withholding transactions are coded "F" and reduce his directly held share count accordingly.

What new restricted stock awards did Daniel Perlis receive from ELS?

Perlis received two restricted stock awards totaling 6,504 ELS common shares at a grant price of $64.07 per share. These awards are coded "A" and represent additional equity compensation granted on February 3, 2026.

How many ELS shares does Daniel Perlis own after these transactions?

Following the reported transactions, Daniel Perlis directly owns 14,188 shares of Equity Lifestyle Properties common stock. This figure reflects both the tax-related share withholding and the newly granted restricted stock awards reported in the filing.

Are Daniel Perlis’s new ELS restricted stock awards immediately vested?

No. Footnotes state the restricted stock awards vest over time. Portions vest on specific future dates, subject to service requirements and performance-based conditions, including scheduled vesting in 2027, 2028 and 2029 for one of the awards.

Did this ELS Form 4 show any open-market stock sales by Daniel Perlis?

The Form 4 shows withholding of shares for taxes upon vesting of restricted stock and new restricted stock awards. It does not report open-market sales; the "F" code indicates tax withholding rather than discretionary selling.