SPG director granted 1,159 restricted shares

LEIBOWITZ REUBEN S reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

LEIBOWITZ REUBEN S reported acquisition or exercise transactions in this Form 4 filing.

SIMON PROPERTY GROUP INC. director Reuben S. Leibowitz received a non-cash award of 1,159 shares of common stock as restricted stock under the Simon Property Group, L.P. 2019 Stock Incentive Plan. The restricted stock vests one year after the award.

Following this grant, Leibowitz directly holds 55,289 shares of common stock. Additional shares are held indirectly through trusts, a charitable remainder trust, a foundation and a spouse, and the reporting person disclaims beneficial ownership of those indirectly held securities.

Insider Trade Summary

Grant/Award: 1,159 shares

Grant/Award 5 txns

Insider LEIBOWITZ REUBEN S

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,159	$0.00	$0.00
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 55,289 shares (Direct); Common Stock — 2,500 shares (Indirect, By Spouse); Common Stock — 10,500 shares (Indirect, By Leibowitz Foundation); Common Stock — 2,500 shares (Indirect, By Maxsim Charitable Remainder Trust); Common Stock — 1,400 shares (Indirect, By trusts)

Footnotes (2)

1. F1. Non-cash compensation - Award of restricted stock under the Simon Property Group, L.P. 2019 Stock Incentive Plan. The restricted stock vests one year after the award.
2. F2. The Reporting Person disclaims beneficial ownership of these securities and the inclusion of these shares in the report shall not be deemed an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose.

Key Figures

Restricted stock award: 1,159 shares Award price: $0.0000 per share Direct holdings after award: 55,289 shares +4 more

7 metrics

Restricted stock award 1,159 shares Non-cash compensation grant, vests after one year

Award price $0.0000 per share Reported price for restricted stock grant

Direct holdings after award 55,289 shares Common stock directly owned following the grant

Trust holdings 1,400 shares Indirect ownership by trusts

Charitable remainder trust holdings 2,500 shares Indirect ownership by Maxsim Charitable Remainder Trust

Foundation holdings 10,500 shares Indirect ownership by Leibowitz Foundation

Spouse holdings 2,500 shares Indirect ownership by spouse

Key Terms

restricted stock, Stock Incentive Plan, non-cash compensation, charitable remainder trust, +1 more

5 terms

restricted stock financial

"Non-cash compensation - Award of restricted stock under the Simon Property Group, L.P. 2019 Stock Incentive Plan."

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.

Stock Incentive Plan financial

"Award of restricted stock under the Simon Property Group, L.P. 2019 Stock Incentive Plan."

A stock incentive plan is a company program that gives employees or directors pieces of ownership or the right to buy shares over time, similar to receiving a bonus paid in company stock instead of cash. Investors pay attention because these plans align staff incentives with long‑term company performance but can also dilute existing shareholders and affect reported profits when grants are expensed, so they influence both ownership percentages and financial results.

non-cash compensation financial

"Non-cash compensation - Award of restricted stock under the Simon Property Group, L.P. 2019 Stock Incentive Plan."

charitable remainder trust financial

"nature_of_ownership: By Maxsim Charitable Remainder Trust"

beneficial ownership financial

"The Reporting Person disclaims beneficial ownership of these securities and the inclusion of these shares in the report shall not be deemed an admission of beneficial ownership."

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

FAQ

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

What insider transaction did SPG director Reuben S. Leibowitz report?

Reuben S. Leibowitz reported receiving a non-cash award of 1,159 shares of Simon Property Group common stock as restricted stock. The award was granted under the Simon Property Group, L.P. 2019 Stock Incentive Plan and vests one year after the grant date.

How many SPG shares does Reuben S. Leibowitz hold directly after this filing?

After the restricted stock award, Reuben S. Leibowitz directly holds 55,289 shares of Simon Property Group common stock. This figure reflects his direct ownership position as reported in the Form 4, excluding shares held indirectly through related entities and family members.

Were the 1,159 SPG shares purchased on the market by Reuben S. Leibowitz?

No. The 1,159 shares reported were a non-cash compensation award of restricted stock, not an open-market purchase. They were granted under the Simon Property Group, L.P. 2019 Stock Incentive Plan and will vest one year after the award.

What does the vesting schedule look like for Reuben S. Leibowitz’s SPG restricted stock?

The filing states that the restricted stock award of 1,159 shares vests one year after the award. Until vesting, the shares are subject to forfeiture conditions specified by the Simon Property Group, L.P. 2019 Stock Incentive Plan.

How are Reuben S. Leibowitz’s indirect SPG holdings structured in this Form 4?

Indirect holdings are reported as shares held by trusts, a charitable remainder trust, the Leibowitz Foundation, and a spouse. The filing notes that the reporting person disclaims beneficial ownership of these indirectly held securities for Section 16 and other purposes.

What is the transaction code for Reuben S. Leibowitz’s SPG restricted stock award?

The restricted stock grant is reported with transaction code A, which indicates a grant, award, or other acquisition. The transaction involved 1,159 shares at a reported price of $0.0000 per share, reflecting its non-cash compensation nature.

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

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Accepted by SEC EDGAR 05/15/2026 - 11:11 AM 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^*

LEIBOWITZ REUBEN S

(Last) (First) (Middle)

225 W. WASHINGTON STREET

(Street)

INDIANAPOLIS INDIANA 46204

(City) (State) (Zip)

UNITED STATES

(Country)

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

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)
05/13/2026

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	05/13/2026		A(1)		1,159	A	(1)	55,289	D
Common Stock								2,500	I	By Spouse
Common Stock								10,500(2)	I	By Leibowitz Foundation
Common Stock								2,500(2)	I	By Maxsim Charitable Remainder Trust
Common Stock								1,400(2)	I	By trusts

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. Non-cash compensation - Award of restricted stock under the Simon Property Group, L.P. 2019 Stock Incentive Plan. The restricted stock vests one year after the award.

2. The Reporting Person disclaims beneficial ownership of these securities and the inclusion of these shares in the report shall not be deemed an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose.

	/s/ Reuben S. Leibowitz by his attorney-in-fact, Steven E. Fivel	05/15/2026
	** 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)