Simon Property (NYSE: SPG) CEO earns 124,901 performance LTIP units

Rhea-AI Filing Summary

SIMON DAVID reported acquisition or exercise transactions in this Form 4 filing.

SIMON PROPERTY GROUP INC. CEO, Chairman and President David Simon reported an award of 124,901 LTIP units on common stock as long-term incentive compensation. These units were originally granted as a maximum award in March 2023, subject to performance conditions.

On March 11, 2026, the Compensation and Human Capital Committee determined that performance goals were achieved at 100%, so all 124,901 LTIP units became earned. The earned LTIP units are scheduled to vest on January 1, 2027, subject to continued service, with potential earlier vesting upon events such as death, disability, change of control or qualifying retirement. Following this award, Simon directly holds 1,407,913 LTIP units.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider SIMON DAVID

Role CEO/CHAIRMAN/PRESIDENT

Type	Security	Shares	Price	Value
Grant/Award	LTIP Units	124,901	$0.25	$31K

Holdings After Transaction: LTIP Units — 1,407,913 shares (Direct)

Footnotes (1)

1. Represents long-term incentive performance ("LTIP") units of Simon Property Group, L.P. (the "Operating Partnership"), of which Simon Property Group, Inc. (the "Company") is the general partner, issued as long-term incentive compensation pursuant to the Operating Partnership's 2019 Stock Incentive Plan (the "Plan"), in compliance with Rule 16b-3. When earned and vested, each LTIP unit may be converted into a unit of limited partnership interest ("Partnership Unit"). Each Partnership Unit may be exchanged for a share of the Company's common stock, or cash, as selected by the Company. On March 1, 2023, the Reporting Person was awarded a maximum of 124,901 LTIP units, subject to certain performance conditions. On March 11, 2026, the Compensation and Human Capital Committee (the "Compensation Committee") of the Board of Directors of the Company determined that the extent to which the performance measures had been achieved during the performance period resulted in 100%, or 124,901 of the LTIP units becoming earned LTIP units. The earned LTIP units vest on January 1, 2027, subject to a continued service requirement, or may vest earlier due to the Reporting Person's death or disability, a change of control of the Company, the retirement of the Reporting Person, subject to the approval of the Company's Compensation Committee, or as may otherwise be determined by the Company's Compensation Committee in accordance with the terms of the grant agreement and the Plan.

Form 4 Insider Transactions: What Each Field Means →

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^*

SIMON DAVID

(Last) (First) (Middle)

225 W. WASHINGTON STREET

(Street)

INDIANAPOLIS IN 46204

(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
X	Officer (give title below)		Other (specify below)
	CEO/CHAIRMAN/PRESIDENT

3. Date of Earliest Transaction (Month/Day/Year)
03/11/2026

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

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
LTIP Units(1)	(1)	03/11/2026		A		124,901		(1)(2)	(1)	Common Stock	124,901	$0.25	1,407,913	D

Explanation of Responses:

1. Represents long-term incentive performance ("LTIP") units of Simon Property Group, L.P. (the "Operating Partnership"), of which Simon Property Group, Inc. (the "Company") is the general partner, issued as long-term incentive compensation pursuant to the Operating Partnership's 2019 Stock Incentive Plan (the "Plan"), in compliance with Rule 16b-3. When earned and vested, each LTIP unit may be converted into a unit of limited partnership interest ("Partnership Unit"). Each Partnership Unit may be exchanged for a share of the Company's common stock, or cash, as selected by the Company.

2. On March 1, 2023, the Reporting Person was awarded a maximum of 124,901 LTIP units, subject to certain performance conditions. On March 11, 2026, the Compensation and Human Capital Committee (the "Compensation Committee") of the Board of Directors of the Company determined that the extent to which the performance measures had been achieved during the performance period resulted in 100%, or 124,901 of the LTIP units becoming earned LTIP units. The earned LTIP units vest on January 1, 2027, subject to a continued service requirement, or may vest earlier due to the Reporting Person's death or disability, a change of control of the Company, the retirement of the Reporting Person, subject to the approval of the Company's Compensation Committee, or as may otherwise be determined by the Company's Compensation Committee in accordance with the terms of the grant agreement and the Plan.

	David Simon by his attorney-in-fact, Steven E. Fivel	03/13/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did SPG CEO David Simon report on March 11, 2026?

David Simon reported acquiring 124,901 LTIP units tied to Simon Property Group common stock. The award reflects long-term incentive compensation after performance conditions were met, increasing his directly held LTIP units position to a reported 1,407,913 units following the transaction.

How were David Simon’s 124,901 SPG LTIP units determined to be earned?

The Compensation and Human Capital Committee reviewed performance for the award granted March 1, 2023 and found 100% of performance measures were achieved. As a result, all 124,901 previously granted LTIP units became earned LTIP units as of March 11, 2026.

When do David Simon’s newly earned SPG LTIP units vest?

The 124,901 earned LTIP units are scheduled to vest on January 1, 2027, subject to David Simon’s continued service. Vesting may also occur earlier upon death, disability, a change of control, certain retirement situations, or other determinations by the Compensation Committee under the plan.

What can SPG LTIP units ultimately be converted into for David Simon?

Each LTIP unit can become a Partnership Unit of Simon Property Group, L.P. Each Partnership Unit may then be exchanged, at the company’s election, for either one share of Simon Property Group common stock or cash, providing equity-linked compensation rather than a cash bonus upfront.

Did David Simon buy or sell SPG shares in the open market in this Form 4?

This Form 4 reports a grant of 124,901 LTIP units as long-term incentive compensation, not an open-market purchase or sale. The transaction is classified as a grant or award acquisition under Rule 16b-3, rather than a discretionary market trade in Simon Property Group stock.