Donald Frey of Simon Property Group (SPG) reports RSU vesting and tax share withholding

Rhea-AI Filing Summary

SIMON PROPERTY GROUP INC. executive Donald G. Frey reported equity compensation activity involving restricted stock units and related tax withholding. On March 2, 2026, 1,031 restricted stock units vested and were settled into 1,031 shares of common stock at no exercise price. To satisfy tax withholding obligations tied to this vesting, 323 shares of common stock were delivered at a price of $203.85 per share, reducing the net shares retained. After these transactions, Frey held 21,164 shares of common stock directly, plus 194 shares held indirectly through a 401(k) plan, which includes 7 shares acquired via the company’s dividend reinvestment plan since a prior Form 4.

Insider Trade Summary

1,031 shares exercised/converted

Mixed 4 txns

Insider Frey Donald G

Role EVP, TREASURER

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	1,031	$0.00	--
Exercise	Common Stock	1,031	$0.00	--
Tax Withholding	Common Stock	323	$203.85	$66K
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct); Common Stock — 21,487 shares (Direct); Common Stock — 194 shares (Indirect, 401 (K) Plan)

Footnotes (1)

1. Each Restricted Stock Unit ("RSU") represents the contingent right to receive, at settlement, one share of common stock of Simon Property Group, Inc. This transaction represents the settlement of RSUs that vested on March 2, 2026. Represents tax withholding obligations in connection with vesting of RSUs. Includes 7 shares 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.

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

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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^*

Frey Donald G

(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. [ SPG ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, TREASURER

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

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
Common Stock	03/02/2026		M		1,031	A	(1)	21,487	D
Common Stock	03/02/2026		F		323(2)	D	$203.85	21,164	D
Common Stock								194(3)	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
Restricted Stock Units	(1)	03/02/2026		M			1,031	03/02/2026	03/02/2026	Common Stock	1,031	$0	0	D

Explanation of Responses:

1. Each Restricted Stock Unit ("RSU") represents the contingent right to receive, at settlement, one share of common stock of Simon Property Group, Inc. This transaction represents the settlement of RSUs that vested on March 2, 2026.

2. Represents tax withholding obligations in connection with vesting of RSUs.

3. Includes 7 shares 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.

	/s/ Donald G. Frey by his attorney-in-fact, Kevin M. Kelly	03/04/2026
	** 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).
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FAQ

What insider transactions did SPG EVP Donald G. Frey report on March 2, 2026?

Donald G. Frey reported RSU vesting and related share activity on March 2, 2026. 1,031 restricted stock units settled into common shares, and 323 shares were delivered to cover tax withholding, with no open-market purchases or sales disclosed.

How many Simon Property Group (SPG) RSUs vested for Donald G. Frey?

1,031 restricted stock units vested for Donald G. Frey. Each RSU represented the right to receive one SPG common share at settlement, so the vesting resulted in the delivery of 1,031 common shares to him on March 2, 2026.

How many SPG shares were withheld for taxes in Donald Frey’s Form 4 filing?

323 SPG common shares were delivered to satisfy tax withholding obligations. These shares were valued at $203.85 per share and were tied specifically to the RSUs that vested on March 2, 2026, rather than being discretionary market sales.

What are Donald Frey’s SPG share holdings after the reported transactions?

After the reported transactions, Donald Frey directly held 21,164 SPG common shares. He also indirectly held 194 shares through a 401(k) plan, reflecting retirement-plan ownership separate from his direct holdings of company stock.

Did Donald G. Frey buy or sell SPG shares on the open market in this Form 4?

The Form 4 shows no open-market purchases or sales by Donald G. Frey. Reported activity reflects RSU vesting, settlement into common stock, and a share disposition solely to cover tax withholding obligations associated with that vesting event.

What does the dividend reinvestment plan note mean in Donald Frey’s SPG filing?

The filing states that 7 SPG common shares in Frey’s holdings were acquired through the company’s dividend reinvestment plan. This indicates dividends on existing shares were automatically reinvested into additional stock rather than being paid in cash.