[8-K] Simon Property Group, Inc. Reports Material Event

Rhea-AI Filing Summary

AT&T Inc. (ticker T) – Form 4 insider transaction

Director Cindy B. Taylor reported one transaction dated 31 Jul 2025 under the company’s Non-Employee Director Stock & Deferral Plan:

• 1,994.072 Deferred Stock Units (DSUs) acquired (code A) at a reference price of $27.41 per unit.
• DSUs convert to cash equal to one AT&T common share after board service ends; therefore they are economically equivalent to common stock but carry no current voting rights.
• Post-transaction indirect holdings total 198,958.0816 DSUs held through the benefit plan.
• Separately, the director continues to hold 5,718 common shares and 320 depositary shares representing Series C 4.750 % preferred stock.

No common-share sales occurred, and the filing does not indicate open-market purchases. The DSU accrual reflects routine board compensation rather than a discretionary purchase, so market impact is expected to be minimal.

Positive

• Director increased economic exposure via 1,994.072 additional DSUs, modestly reinforcing long-term alignment with shareholders.

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine board DSU grant; negligible ownership change, neutral market impact.

The acquisition of ~2k DSUs is standard compensation under AT&T’s director plan. It lifts Taylor’s indirect stake by roughly 1 %, keeping total economic exposure below $6 m, immaterial versus AT&T’s >$120 bn market cap. Absence of open-market buying or selling signals neither bullish nor bearish sentiment. Investors typically disregard such automatic grants when assessing insider activity.

Corporate Governance Expert

TL;DR: Grant aligns director interests; no red flags detected.

Deferred units defer cash yet mirror share value, reinforcing long-term alignment with shareholders. Continual accumulation without sales is modestly positive for governance optics, but magnitude is too small to influence control or voting dynamics. Compliance appears proper; no 10b5-1 plan checkbox marked, implying direct plan-based issuance.

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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 4, 2025

SIMON PROPERTY GROUP, INC.

(Exact name of registrant as specified in its charter)

Indiana		001-14469		04-6268599
(State or other jurisdiction		(Commission		(IRS Employer
of incorporation)		File Number)		Identification No.)

225 West Washington Street Indianapolis, Indiana		46204
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: 317.636.1600

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company  ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbols		Name of each exchange on which registered
Common stock, $0.0001 par value		SPG		New York Stock Exchange
83/8% Series J Cumulative Redeemable Preferred Stock, $0.0001 par value		SPGJ		New York Stock Exchange

Item 2.02. Results of Operations and Financial Condition

On August 4, 2025, Simon Property Group, Inc. issued a press release containing information on earnings for the quarter ended June 30, 2025 and other matters. A copy of the press release is furnished with this report as Exhibit 99.1 and is incorporated by reference into this report.

Item 7.01. Regulation FD Disclosure

Exhibit 99.1 also includes supplemental financial and operating information for the quarter ended June 30, 2025.

Item 9.01. Financial Statements and Exhibits

Financial Statements:

None

Exhibits:

Exhibit No.	Description
99.1	Earnings Release dated August 4, 2025 and supplemental information
104	The cover page from this Current Report on Form 8-K formatted in Inline XBRL (included as Exhibit 101)

The exhibit filed with this report contains measures of financial or operating performance that are not specifically defined by generally accepted accounting principles (“GAAP”) in the United States, including funds from operations (“FFO”), FFO per share, Real Estate FFO, Real Estate FFO per share, funds available for distribution, net operating income (“NOI”), domestic property NOI and portfolio NOI. FFO and NOI are performance measures that are standard in the REIT business. We believe FFO and NOI provide investors with additional information concerning our operating performance and a basis to compare our performance with the performance of other REITs. We also use these measures internally to monitor the operating performance of our portfolio. Our computation of these non-GAAP measures may not be the same as similar measures reported by other REITs.

These non-GAAP financial measures should not be considered as alternatives to net income as a measure of our operating performance or to cash flows computed in accordance with GAAP as a measure of liquidity nor are they indicative of cash flows from operating and financial activities.

Reconciliations of each of these non-GAAP measures to the most-directly comparable GAAP measure are included in the exhibit.

The information in this report and the exhibit filed herewith is being furnished, not filed, for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and pursuant to Items 2.02 and 7.01 of Form 8-K, will not be incorporated by reference into any filing under the Securities Act of 1933, as amended.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Dated: August 4, 2025

	SIMON PROPERTY GROUP, INC.
	By:	/s/ BRIAN J. MCDADE
		Brian J. McDade,
		Executive Vice President and
		Chief Financial Officer

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FAQ

How many AT&T deferred stock units did director Cindy B. Taylor acquire?

1,994.072 DSUs were granted on 31 Jul 2025.

What is Cindy B. Taylor’s total indirect AT&T DSU holding after the transaction?

She now indirectly holds 198,958.0816 DSUs through the benefit plan.

Did the AT&T director buy or sell common shares in this Form 4?

No common shares were bought or sold; only DSUs were acquired.

At what reference price were the new AT&T DSUs recorded?

The units were valued at $27.41 each.

Does this Form 4 filing signal a major insider purchase for AT&T (T)?

No; it documents a routine director compensation grant with minimal market impact.