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Sun Communities (NYSE: SUI) director reports 156,875-share trust stock sale

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4

Rhea-AI Filing Summary

Sun Communities, Inc. director Gary A. Shiffman reported an indirect sale of 156,875 shares of the company’s common stock on 12/17/2025 at $123.53 per share. The sale was a private transaction by an irrevocable trust, where he is a trustee and beneficiary, transferring shares to other beneficiaries for tax planning purposes, and he disclaims beneficial ownership except to the extent of his pecuniary interest. Following this transaction, he reports beneficial ownership of 881,175 shares directly, plus indirect interests in 6,278 shares owned by his spouse and 86,800 shares held by another irrevocable trust.

Positive

  • None.

Negative

  • None.
Insider SHIFFMAN GARY A
Role Director
Sold 156,875 shs ($19.38M)
Type Security Shares Price Value
Sale COMMON STOCK, $0.01 PAR VALUE 156,875 $123.53 $19.38M
holding COMMON STOCK, $0.01 PAR VALUE -- -- --
holding COMMON STOCK, $0.01 PAR VALUE -- -- --
holding COMMON STOCK, $0.01 PAR VALUE -- -- --
Holdings After Transaction: COMMON STOCK, $0.01 PAR VALUE — 0 shares (Indirect, Owned by irrevocable trust.); COMMON STOCK, $0.01 PAR VALUE — 881,175 shares (Direct)
Footnotes (1)
  1. This transaction represents the sale of Common Stock of the Issuer in a private transaction by an irrevocable trust of which the Reporting Person is a trustee and a beneficiary to certain beneficiaries of this trust other than the Reporting Person. The Reporting Person disclaims beneficial ownership of the securities held by the trust except to the extent of his pecuniary interest therein. This transaction was completed for tax planning purposes. Owned by an irrevocable trust of which the Reporting Person is a trustee and a beneficiary. The Reporting Person disclaims beneficial ownership of the securities held by the trust except to the extent of his pecuniary interest therein.
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*
SHIFFMAN GARY A
(Last) (First) (Middle)
27777 FRANKLIN ROAD
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
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
12/17/2025
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 12/17/2025 S 156,875(1) D $123.53 0 I Owned by irrevocable trust.(1)
COMMON STOCK, $0.01 PAR VALUE 881,175 D
COMMON STOCK, $0.01 PAR VALUE 6,278 I Owned by spouse
COMMON STOCK, $0.01 PAR VALUE 86,800 I Owned by irrevocable trust.(2)
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. This transaction represents the sale of Common Stock of the Issuer in a private transaction by an irrevocable trust of which the Reporting Person is a trustee and a beneficiary to certain beneficiaries of this trust other than the Reporting Person. The Reporting Person disclaims beneficial ownership of the securities held by the trust except to the extent of his pecuniary interest therein. This transaction was completed for tax planning purposes.
2. Owned by an irrevocable trust of which the Reporting Person is a trustee and a beneficiary. The Reporting Person disclaims beneficial ownership of the securities held by the trust except to the extent of his pecuniary interest therein.
Remarks:
Gary A. Shiffman 12/18/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Sun Communities (SUI) report for Gary A. Shiffman?

Director Gary A. Shiffman reported an indirect sale of 156,875 shares of Sun Communities common stock on 12/17/2025, coded as a sale (S) at a reported price of $123.53 per share.

How was the 156,875-share Sun Communities (SUI) transaction structured?

The 156,875-share transaction was a private sale by an irrevocable trust, of which Shiffman is a trustee and beneficiary, to certain other beneficiaries of that trust. The filing states that the transaction was completed for tax planning purposes.

What Sun Communities (SUI) holdings does Gary A. Shiffman report after the transaction?

After the reported transaction, Shiffman reports beneficial ownership of 881,175 shares directly, plus indirect interests in 6,278 shares owned by his spouse and 86,800 shares held by another irrevocable trust.

Does Gary A. Shiffman claim full beneficial ownership of the Sun Communities (SUI) trust shares?

No. For both irrevocable trusts, the filing states that Shiffman disclaims beneficial ownership of the securities held by the trusts except to the extent of his pecuniary interest in them.

What is Gary A. Shiffman’s relationship to Sun Communities (SUI)?

Gary A. Shiffman is identified in the filing as a Director of Sun Communities, Inc. and the Form 4 is filed by one reporting person.

Was the Sun Communities (SUI) transaction reported as direct or indirect ownership?

The 156,875-share sale was reported as indirect (I) ownership, held through an irrevocable trust. Shiffman also reports direct (D) ownership of 881,175 shares and additional indirect holdings through his spouse and another trust.