Simon Property Group (SPG) director details stock dividend reinvestment and transfers

Rhea-AI Filing Summary

Simon Property Group Inc. director Reuben S. Leibowitz reported an increase in his holdings of the company’s common stock. On 12/31/2025, he acquired 480 shares of common stock at $ 186 per share, labeled as a code P transaction. According to the notes, these shares were obtained through the reinvestment of dividends received on restricted stock granted to him as non-cash compensation under the Simon Property Group, L.P. 2019 Stock Incentive Plan.

Following this transaction, he beneficially owned 53,639 shares directly. He also had indirect ownership interests, including 2,500 shares held by his spouse, 10,500 shares held by the Leibowitz Foundation, 2,500 shares held by the Maxsim Charitable Remainder Trust, and 1,400 shares held by trusts. The notes state that on December 16, 2025 he transferred 5,500 directly owned shares to the Leibowitz Foundation and that he disclaims beneficial ownership of the indirectly held securities.

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

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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^*

LEIBOWITZ REUBEN S

(Last) (First) (Middle)

680 FIFTH AVENUE, 25TH FL

(Street)

NEW YORK NY 10019

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

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	12/31/2025		P(1)		480	A	$186(1)	53,639(2)	D
Common Stock								2,500	I	By Spouse
Common Stock								10,500(2)(3)	I	By Leibowitz Foundation
Common Stock								2,500(3)	I	By Maxsim Charitable Remainder Trust
Common Stock								1,400(3)	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. Represents shares of common stock acquired through the reinvestment of dividends received on restricted stock awarded to the Reporting Person as non-cash compensation under the Simon Property Group, L.P. 2019 Stock Incentive Plan.

2. The Reporting Person transferred 5,500 shares that he owned directly to the Leibowitz Foundation on December 16, 2025.

3. 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	01/05/2026
	** 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.
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FAQ

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

Reuben S. Leibowitz, a director of Simon Property Group Inc., reported acquiring 480 shares of common stock on 12/31/2025 in a code P transaction.

How were the 480 SPG shares acquired by the director?

The 480 shares of common stock were acquired through the reinvestment of dividends received on restricted stock awarded to him as non-cash compensation under the Simon Property Group, L.P. 2019 Stock Incentive Plan.

How many SPG shares does the director own directly after the reported transaction?

After the reported transaction, Reuben S. Leibowitz beneficially owned 53,639 shares of Simon Property Group Inc. common stock directly.

What indirect holdings of SPG stock are associated with the director?

Indirect holdings associated with him include 2,500 shares held by his spouse, 10,500 shares held by the Leibowitz Foundation, 2,500 shares held by the Maxsim Charitable Remainder Trust, and 1,400 shares held by trusts.

Did the SPG director transfer any directly owned shares to a foundation?

Yes. The notes state that on December 16, 2025, the reporting person transferred 5,500 shares that he owned directly to the Leibowitz Foundation.

Does the SPG director claim beneficial ownership of all indirectly held shares?

No. The notes explain that the reporting person disclaims beneficial ownership of the indirectly held securities and that including them in the report is not an admission of beneficial ownership for Section 16 or any other purpose.