SPG Form 4: Eli Simon Disposes 5,821 Shares to Cover Taxes

Rhea-AI Filing Summary

Eli Simon, EVP/Chief Operating Officer and Director of Simon Property Group, sold 5,821 shares of the company's common stock on 08/29/2025 at $179.36 per share. After that disposition he beneficially owned 56,655 shares directly. The filing explains the sale represents tax withholding related to the vesting of restricted stock, not an open-market trading decision.

The Form 4 was submitted as a single-person filing and signed on 09/02/2025 by an attorney-in-fact. The report uses transaction code F, indicating shares were transferred to satisfy tax withholding obligations tied to equity vesting.

Insights

Corporate Governance Expert

TL;DR: Director/officer disposed of vested shares for tax withholding; routine and non-dispositive to control.

The transaction is labeled with code F and explicitly described as tax withholding for restricted stock vesting, which is a common administrative step following equity vesting. The remaining direct beneficial ownership of 56,655 shares remains intact, and there is no indication of additional sales or change in control from this filing. From a governance perspective, this disclosure aligns with standard insider reporting and does not, by itself, signal a change in issuer leadership or strategy.

Securities Analyst

TL;DR: Single routine disposition to cover withholding taxes; transaction size relative to holdings is modest.

The reported disposition of 5,821 shares at $179.36 generated proceeds to satisfy tax obligations tied to vesting. The filing shows continued direct ownership of 56,655 shares, indicating that the insider retained the majority of holdings. There are no derivative transactions reported and no indications of market-timing or material liquidations in this Form 4. This is a routine, non-material insider administrative transaction.

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^*

Simon Eli

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP / CHIEF OPERATING OFFICER

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		5,821(1)	D	$179.36	56,655	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 tax withholding obligations in connection with the vesting of restricted stock.

	/s/ Eli Simon by his attorney-in-fact, Steven E. Fivel	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.
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