Sun Communities (NYSE: SUI) director Shiffman sells 25,031 shares at $119.96

Rhea-AI Filing Summary

Sun Communities Inc. director Gary A. Shiffman reported an open-market sale of 25,031 shares of common stock at a volume weighted average price of $119.96 per share. After this sale, he directly holds 857,761 shares. Additional indirect holdings include 86,800 shares owned by an irrevocable trust, where he is a trustee and beneficiary, and 6,278 shares owned by his spouse.

Insider Trade Summary

Net Seller: 25,031 shares ($3,002,719)

Net Sell 3 txns

Insider SHIFFMAN GARY A

Role null

Sold 25,031 shs ($3.00M)

Type	Security	Shares	Price	Value
Sale	COMMON STOCK, $0.01 PAR VALUE	25,031	$119.96	$3.00M
holding	COMMON STOCK, $0.01 PAR VALUE	--	--	--
holding	COMMON STOCK, $0.01 PAR VALUE	--	--	--

Holdings After Transaction: COMMON STOCK, $0.01 PAR VALUE — 857,761 shares (Direct, null); COMMON STOCK, $0.01 PAR VALUE — 6,278 shares (Indirect, Owned by spouse)

Footnotes (1)

1. The price reported in Column 4 is a volume weighted average price. These shares were sold in multiple transactions with prices ranging from $119.75 to $120.05, inclusive. The reporting person undertakes to provide to Sun Communities, Inc., any security holder of Sun Communities, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. 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.

Key Figures

Shares sold: 25,031 shares Average sale price: $119.96 per share Sale price range: $119.75–$120.05 per share +3 more

6 metrics

Shares sold 25,031 shares Open-market sale of common stock

Average sale price $119.96 per share Volume weighted average price for the sale

Sale price range $119.75–$120.05 per share Range of prices for individual trades in the sale

Direct holdings after sale 857,761 shares Common stock directly owned following the transaction

Irrevocable trust holdings 86,800 shares Shares owned by an irrevocable trust associated with Shiffman

Spouse holdings 6,278 shares Shares owned by spouse, reported as indirect ownership

Key Terms

volume weighted average price, irrevocable trust, disclaims beneficial ownership, open-market sale, +1 more

5 terms

volume weighted average price financial

"The price reported in Column 4 is a volume weighted average price."

The volume weighted average price (VWAP) is a way to measure the average price of a security, such as a stock, over a specific period, taking into account how many units were traded at each price. It’s similar to calculating the average cost of items bought when some are more frequently purchased than others. Investors use VWAP to assess whether a security is being bought or sold at a fair price during trading.

irrevocable trust financial

"Owned by an irrevocable trust of which the Reporting Person is a trustee and a beneficiary."

An irrevocable trust is a legal arrangement where an owner transfers assets into a separate entity managed by a trustee and gives up the power to modify or reclaim those assets. For investors it matters because putting stock or other holdings into such a trust can change who controls and benefits from the assets, affect taxes and creditor protection, and influence how easy it is to sell or value those holdings—like placing valuables in a locked safe overseen by someone else.

disclaims beneficial ownership financial

"The Reporting Person disclaims beneficial ownership of the securities held by the trust except to the extent of his pecuniary interest therein."

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

pecuniary interest financial

"except to the extent of his pecuniary interest therein."

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/25/2026 - 02:12 PM Accepted by SEC EDGAR 06/25/2026 - 02:11 PM Learn about SEC filing dates

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 MICHIGAN 48034

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/24/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	06/24/2026		S		25,031	D	$119.96(1)	857,761	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. The price reported in Column 4 is a volume weighted average price. These shares were sold in multiple transactions with prices ranging from $119.75 to $120.05, inclusive. The reporting person undertakes to provide to Sun Communities, Inc., any security holder of Sun Communities, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

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:

	/s/ Gary A. Shiffman	06/25/2026
	** 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.
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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did SUN COMMUNITIES INC (SUI) report for Gary A. Shiffman?

Gary A. Shiffman reported selling 25,031 shares of Sun Communities common stock in an open-market transaction. The sale used a volume weighted average price, indicating multiple trades executed within a narrow intraday price range.

At what price did Gary A. Shiffman sell SUN COMMUNITIES INC (SUI) shares?

The reported volume weighted average price was $119.96 per share, based on multiple trades. Individual sale prices ranged from $119.75 to $120.05 per share, all within a tight band around the average.

How many SUN COMMUNITIES INC (SUI) shares does Gary A. Shiffman hold after the reported sale?

After the sale, Gary A. Shiffman directly holds 857,761 shares of Sun Communities common stock. This filing also lists additional indirect holdings through an irrevocable trust and shares owned by his spouse.

What indirect SUN COMMUNITIES INC (SUI) holdings are associated with Gary A. Shiffman?

The filing shows 86,800 shares owned by an irrevocable trust where he is trustee and beneficiary, and 6,278 shares owned by his spouse. He disclaims beneficial ownership of the trust’s shares except for his pecuniary interest.

What does volume weighted average price mean in the SUN COMMUNITIES INC (SUI) insider sale?

Volume weighted average price of $119.96 means the reported price reflects the average of multiple trades, each at prices between $119.75 and $120.05, weighted by the number of shares in each trade.

Does the SUN COMMUNITIES INC (SUI) filing describe the nature of Gary A. Shiffman’s sale?

Yes. The transaction is described as an open-market sale of non-derivative common stock. It is categorized as a sale in the open market or a private transaction, using a volume weighted average execution price.