[Form 4] Sun Communities, Inc Insider Trading Activity

Rhea-AI Filing Summary

Glazer Capital, LLC and its managing member Paul J. Glazer have filed a Schedule 13G for Bridge Investment Group Holdings Inc. (BRDG).

The filing reveals beneficial ownership of 2,846,478 Class A shares, equal to 6.38 % of the outstanding class as of the triggering event date, 16 July 2025. All voting and dispositive authority over the shares is shared; the reporting persons hold 0 shares with sole authority. The securities are held across funds and managed accounts advised by Glazer Capital, which is classified as an investment adviser (Item 3 (e)).

The certification states the stake is passive and not intended to influence control of BRDG. Crossing the 5 % threshold makes Glazer Capital a reportable beneficial owner, highlighting a meaningful but non-activist institutional position.

Positive

• Institutional stake of 2.85 M shares (6.38 %) signals meaningful passive ownership by Glazer Capital, potentially improving liquidity and market visibility.

Negative

• No sole voting or dispositive power suggests limited ability for the investor to advocate for changes, reducing potential governance benefits to other shareholders.

Insights

Equity Analyst

TL;DR — Neutral filing; Glazer Capital discloses a 6.38 % passive stake, signalling interest but no control intent.

The Schedule 13G shows Glazer Capital now owns nearly 2.85 M Class A BRDG shares. Because the stake is filed on Form 13G rather than 13D, the firm certifies a passive investment strategy, limiting expectations of near-term governance or strategic activism. While additional institutional ownership can enhance float support and liquidity, there is no direct information on purchase price, timing, or future accumulation plans. From a valuation or earnings standpoint, the disclosure is informational only and does not alter the company’s fundamentals. Overall impact on the share price should be modest unless the market interprets the position as a vote of confidence.

Corporate Governance Specialist

TL;DR — No governance pressure; shared voting power and passive intent keep board influence unchanged.

Glazer Capital and Paul Glazer report shared voting/dispositive power but hold no sole authority, limiting unilateral action. The 13G certification explicitly denies any control motive, reducing the likelihood of proxy contests or governance initiatives. Therefore, existing management control structure remains intact. Investors should monitor future amendments; a switch to Form 13D or growth beyond 10 % would indicate a strategic shift. At present, the filing is largely procedural.

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).

1. Name and Address of Reporting Person^*

Weiss Aaron

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Corp. Strat. & Bus. Dev.

3. Date of Earliest Transaction (Month/Day/Year)
07/21/2025

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	07/21/2025		A		15,253(1)	A	$125.06	74,647	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. These shares of the Company's restricted stock were issued to the Reporting Person as a retention bonus under a retention program covering various executives and key employees of the Company. The retention bonuses under this program were issued as an additional incentive to retain the recipients' services through the period of transition in the Company's Chief Executive Officer position and beyond and to continue to promote the Company's success. These shares are subject to time vesting and vest as follows: 3,051 shares vest on July 21, 2026; 3,051 shares vest on July 21, 2027; 3,051 shares vest on July 21, 2028; 3,050 shares vest on July 21, 2029; and 3,050 shares vest on July 21, 2030.

Remarks:

	Aaron Weiss	07/23/2025
	** 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

How many BRDG shares does Glazer Capital own?

The filing lists 2,846,478 Class A shares under shared beneficial ownership.

What percentage of Bridge Investment Group’s Class A stock is held?

The reported stake equals 6.38 % of the outstanding Class A shares.

Is Glazer Capital seeking control of BRDG?

No. The Schedule 13G certification states the shares were acquired for passive investment, not to influence control.

Does Glazer Capital have sole voting power over the shares?

No. The filing shows 0 shares with sole voting or dispositive authority; all power is shared.

Why was this Schedule 13G filed?

Crossing the 5 % ownership threshold on 16 Jul 2025 triggered the SEC’s beneficial ownership reporting requirement.