[Form 4] SUN COMMUNITIES INC Insider Trading Activity

Rhea-AI Filing Summary

Charles D. Young, CEO and Director of Sun Communities, Inc. (SUI), reported stock awards on 10/01/2025. The Form 4 shows grants of 58,754 restricted shares and an additional 7,782 unrestricted inducement award that vested upon issuance, both at a reported price of $128.50 per share. After the transactions, the reporting person beneficially owned 63,143 common shares. Of the restricted shares, 31,128 are time-vesting (7,782 vesting each on 10/01 in 2026–2029) and 27,626 are performance-vesting tied to market performance criteria. The unrestricted award was granted outside the company’s 2015 Equity Incentive Plan under NYSE rules as an inducement award.

Insights

Corporate Governance Analyst

CEO received a mix of time-vesting and performance-vesting equity on 10/01/2025

The filing documents a grant of 58,754 restricted shares plus a separate 7,782 unrestricted inducement award that vested immediately, both reported at $128.50 per share.

The restricted award splits into 31,128 time-vesting shares (vesting in four equal annual tranches starting 10/01/2026) and 27,626 performance-vesting shares tied to market criteria, which ties a portion of compensation to measurable outcomes.

This structure aligns executive pay with multi-year performance while the inducement award was granted outside the existing equity plan under NYSE Listed Company Manual Rule 303A.08.

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).

1. Name and Address of Reporting Person^*

Young Charles D.

(Last) (First) (Middle)

27777 FRANKLIN RD. SUITE 300

(Street)

SOUTHFIELD MI 48034

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SUN COMMUNITIES INC [ SUI ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO & Director

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

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, $0.01 PAR VALUE	10/01/2025		A		58,754(1)	A	$128.5	58,754	D
COMMON STOCK, $0.01 PAR VALUE	10/01/2025		A		7,782(2)	A	$128.5	66,536	D
COMMON STOCK, $0.01 PAR VALUE	10/01/2025		F		3,393	D	$128.5	63,143	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. Restricted stock. 31,128 of the shares are subject to time vesting: 7,782 of these time vesting shares vest on each of October 1, 2026, 2027, 2028, and 2029. 27,626 of the shares are subject to performance vesting based on certain market performance criteria.

2. Represents a grant of unrestricted stock made as an inducement award in connection with the Reporting Person's appointment as Chief Executive Officer of the Company, which fully vested upon its issuance and was granted outside of the Company's 2015 Equity Incentive Plan in accordance with New York Stock Exchange Listed Company Manual Rule 303A.08.

Remarks:

	Charles D. Young	10/03/2025
	** 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.
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.

FAQ

What did Sun Communities (SUI) CEO Charles D. Young receive on 10/01/2025?

He was granted 58,754 restricted shares and a separate 7,782 unrestricted inducement award that vested upon issuance, both at $128.50 per share.

How many of the restricted shares vest by time and when?

31,128 of the restricted shares are time-vesting: 7,782 shares vest each on 10/01 in 2026, 2027, 2028, and 2029.

How many restricted shares are performance-based?

27,626 restricted shares are subject to performance vesting based on specified market performance criteria.

Did the inducement award follow the company’s equity plan?

No. The 7,782 unrestricted inducement award was granted outside the company’s 2015 Equity Incentive Plan per NYSE Listed Company Manual Rule 303A.08.

What was the reporting person’s beneficial ownership after the transactions?

Following the reported transactions, the reporting person beneficially owned 63,143 common shares.