ELS director receives new restricted stock grants

CALIAN PHILIP reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

CALIAN PHILIP reported acquisition or exercise transactions in this Form 4 filing.

Equity LifeStyle Properties director Philip Calian reported three stock-based compensation grants of common stock on April 28, 2026. He received 320 shares at $62.60 per share, 399 shares at $62.60, and 2,316 shares at $62.60.

These awards are restricted stock subject to vesting. One grant vests in thirds on October 28, 2026, April 28, 2027, and April 28, 2028. A second vests in thirds on April 28, 2027, April 28, 2028, and April 27, 2029, while the third vests entirely on April 28, 2027. After these grants, Calian continues to hold a substantial direct stake in the company’s common stock.

Insider Trade Summary

Grant/Award: 3,035 shares

Grant/Award 3 txns

Insider CALIAN PHILIP

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, par value $.01	2,316	$62.60	$145K
Grant/Award	Common Stock, par value $.01	399	$62.60	$25K
Grant/Award	Common Stock, par value $.01	320	$62.60	$20K

Holdings After Transaction: Common Stock, par value $.01 — 221,974 shares (Direct)

Footnotes (3)

1. F1. Grant of restricted stock subject to vesting as follows: 1/3 on 10/28/26, 1/3 on 4/28/27, and 1/3 on 4/28/28
2. F2. Grant of restricted stock subject to vesting as follows: 1/3 on 4/28/27, 1/3 on 4/28/28, and 1/3 on 4/27/29
3. F3. Grant of restricted stock subject to vesting on 4/28/27

Key Figures

Restricted stock grant 1: 320 shares at $62.60 Restricted stock grant 2: 399 shares at $62.60 Restricted stock grant 3: 2,316 shares at $62.60 +4 more

7 metrics

Restricted stock grant 1 320 shares at $62.60 Common stock award on April 28, 2026

Restricted stock grant 2 399 shares at $62.60 Common stock award on April 28, 2026

Restricted stock grant 3 2,316 shares at $62.60 Common stock award on April 28, 2026

Holdings after largest line 221,974 shares Total common shares following one reported transaction

Vesting schedule F1 1/3 each in 2026–2028 Vesting on Oct 28, 2026; Apr 28, 2027; Apr 28, 2028

Vesting schedule F2 1/3 each in 2027–2029 Vesting on Apr 28, 2027; Apr 28, 2028; Apr 27, 2029

Vesting schedule F3 100% in 2027 Vesting on April 28, 2027

Key Terms

restricted stock, vesting, Form 4

3 terms

restricted stock financial

"Grant of restricted stock subject to vesting as follows"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

vesting financial

"subject to vesting as follows: 1/3 on 10/28/26, 1/3 on 4/28/27"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Equity LifeStyle Properties (ELS) director Philip Calian report on this Form 4?

Director Philip Calian reported receiving three grants of restricted common stock in Equity LifeStyle Properties. The awards total several thousand shares, granted at $62.60 per share, and represent stock-based compensation rather than open-market share purchases or sales.

How many Equity LifeStyle Properties (ELS) shares were granted to Philip Calian?

Philip Calian was granted 320 shares, 399 shares, and 2,316 shares of Equity LifeStyle Properties common stock. Each tranche is part of a restricted stock award that vests over time, aligning his compensation with the company’s longer-term share performance.

At what price were the Equity LifeStyle Properties (ELS) restricted shares valued in the grants?

All three restricted stock grants to Philip Calian were valued at $62.60 per share. This price is used for reporting the grant value on the Form 4 and reflects how the company measures the compensation cost of the awards.

When do Philip Calian’s Equity LifeStyle Properties (ELS) restricted stock awards vest?

One grant vests in thirds on October 28, 2026, April 28, 2027, and April 28, 2028. Another vests in thirds on April 28, 2027, April 28, 2028, and April 27, 2029. The final grant vests fully on April 28, 2027.

Are Philip Calian’s Equity LifeStyle Properties (ELS) transactions open-market buys or compensation grants?

The reported transactions are compensation-related restricted stock grants, not open-market purchases. They are coded as awards on the Form 4 and are subject to multi-year vesting schedules, which encourages ongoing alignment with shareholder interests.

How did these restricted stock grants affect Philip Calian’s Equity LifeStyle Properties (ELS) holdings?

After the reported grants, Philip Calian’s direct ownership in Equity LifeStyle Properties common stock remains substantial, with post-transaction holdings above 221,000 shares in each line. The filing reflects incremental increases from stock-based compensation rather than a reduction in ownership.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/30/2026 - 04:06 PM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

CALIAN PHILIP

(Last) (First) (Middle)

C/O EQUITY LIFESTYLE PROPERTIES, INC.

TWO NORTH RIVERSIDE PLAZA, SUITE 800

(Street)

CHICAGO ILLINOIS 60606

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/28/2026

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

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

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

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	04/28/2026		A		2,316(1)	A	$62.6	221,255	D
Common Stock, par value $.01	04/28/2026		A		399(2)	A	$62.6	221,654	D
Common Stock, par value $.01	04/28/2026		A		320(3)	A	$62.6	221,974	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. Grant of restricted stock subject to vesting as follows: 1/3 on 10/28/26, 1/3 on 4/28/27, and 1/3 on 4/28/28

2. Grant of restricted stock subject to vesting as follows: 1/3 on 4/28/27, 1/3 on 4/28/28, and 1/3 on 4/27/29

3. Grant of restricted stock subject to vesting on 4/28/27

Remarks:

	Jennifer Krebs by Power of Attorney for Philip Calian	04/30/2026
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)