[Form 4] Simon Property Group, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Kevin M. Kelly, Assistant General Counsel/SEC at Simon Property Group (SPG), reported a routine insider transaction on Form 4 showing a disposition of 1,260 shares of SPG common stock on 08/29/2025 at a price of $179.36 per share. The filing states the sale represents tax withholding for vested restricted stock. After the transaction Mr. Kelly directly beneficially owns 21,506 shares and indirectly holds 100 shares through a 401(k) plan. The Form 4 notes one additional share acquired via dividend reinvestment since his April 3, 2025 filing.

Positive

• Clear disclosure of transaction date, price, quantity, and reason (tax withholding) which supports transparency
• Substantial retained ownership: 21,506 shares directly beneficially owned after the transaction, indicating ongoing alignment with shareholders
• Includes indirect holdings (100 shares via 401(k)) and notes dividend reinvestment, showing comprehensive reporting

Negative

• None.

Insights

Securities Analyst

TL;DR Routine tax-withholding disposition by an SEC officer; not a directional trading signal.

The sale of 1,260 shares at $179.36 is documented as tax withholding tied to restricted stock vesting, which is a common administrative disposition that does not necessarily indicate a change in the reporting persons view of the company. Post-transaction ownership of 21,506 shares (direct) retains continued alignment with shareholder interests. Transaction size relative to aggregate holdings appears modest and lacks additional derivative activity.

Corporate Governance Specialist

TL;DR Documentation and explanation are clear; compliance and disclosure appear appropriate.

The Form 4 discloses required details: transaction date, price, number of shares, and an explicit explanation that the sale served to satisfy tax withholding obligations. The filing includes direct and indirect ownership classification and references prior filings for continuity. No amendments or complicated arrangements are reported, suggesting standard compliance with Section 16 reporting rules.

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^*

Kelly Kevin M

(Last) (First) (Middle)

225 W. WASHINGTON ST.

(Street)

INDIANAPOLIS IN 46204

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SIMON PROPERTY GROUP INC /DE/ [ SPG ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	ASST. GENERAL COUNSEL/SEC.

3. Date of Earliest Transaction (Month/Day/Year)
08/29/2025

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	08/29/2025		F		1,260(1)	D	$179.36	21,506	D
Common Stock								100(2)	I	401 (K) Plan

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 tax withholding obligations in connection with the vesting of restricted stock.

2. Includes 1 share of common stock acquired pursuant to the Issuer's dividend reinvestment plan since the Form 4 filed by the Reporting Person on April 3, 2025.

	Kevin M. Kelly	09/02/2025
	** 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.

FAQ

What did Kevin M. Kelly report on the Form 4 for SPG?

He reported a disposition of 1,260 shares on 08/29/2025 at $179.36 per share, described as tax withholding for vested restricted stock.

How many SPG shares does the reporting person own after the transaction?

After the reported sale he directly owns 21,506 shares and indirectly holds 100 shares through a 401(k) plan.

Was the sale part of a Rule 10b5-1 trading plan or an amendment?

The Form 4 does not indicate the transaction was pursuant to a Rule 10b5-1 plan and it is not marked as an amendment to a prior filing.

Why were shares sold according to the filing?

The filing explains the disposition represents tax withholding obligations related to the vesting of restricted stock.

Does the Form 4 show any derivative transactions or option exercises?

No. Table II (derivative securities) contains no reported transactions or holdings.