Welcome to our dedicated page for Sun Communities SEC filings (Ticker: SUI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Sun Communities, Inc. (NYSE: SUI) is a Maryland-incorporated real estate investment trust (REIT) that owns and operates, or has an interest in, manufactured housing ("MH") and recreational vehicle ("RV") communities and UK communities. This SEC filings page brings together the company’s regulatory disclosures, including current reports on Form 8-K and other key filings that document material events, financial results, capital markets activity, and leadership changes.
Investors reviewing Sun Communities’ filings can see how the company reports its quarterly and annual performance, including net income from continuing operations, net income attributable to common shareholders, and Core Funds from Operations ("Core FFO"). The company also discusses Same Property Net Operating Income ("NOI") for its North American MH and RV communities and for its UK communities, as well as occupancy metrics and segment reporting changes following the classification and sale of its Safe Harbor Marinas business as discontinued operations.
Filings on Form 8-K provide detail on transactions and corporate actions such as the sale of Safe Harbor Marinas, the use of proceeds for debt repayment, special cash distributions, stock repurchase authorizations, and the establishment of a new revolving credit facility. Other 8-Ks describe material definitive agreements, including the New Credit Agreement that replaced a prior credit facility, and outline the terms of that facility, including borrowing capacity, maturity, and interest rate options.
Sun Communities’ SEC reports also cover governance and executive compensation matters. Recent 8-Ks describe employment agreements and transition services agreements for the incoming Chief Executive Officer and Chief Financial Officer, as well as the retirement of the prior CEO and advisory roles for outgoing executives. Through this page, users can access these filings and, with AI-powered summaries, quickly understand the significance of each document, from financial condition updates to leadership transitions and credit facility arrangements, without reading every technical detail.
SUN COMMUNITIES INC executive Bruce Thelen, EVP and COO, reported a tax-related share disposition. On this Form 4, 1,025 shares of common stock were withheld at $131.32 per share to cover tax obligations, leaving him with 55,882 shares of directly owned common stock.
Sun Communities reported a sharp turnaround for 2025, driven by the sale of its marina business and solid property performance. Net income attributable to common shareholders reached $1.4 billion, or $10.84 per diluted share, versus $89.0 million, or $0.71, in 2024, largely reflecting a $1.4 billion gain on the Safe Harbor Marinas sale.
Core FFO per share was $1.40 for the fourth quarter and $6.68 for 2025, with 2026 Core FFO guidance of $6.83 to $7.03 per share. North America Same Property NOI rose 7.9% in the fourth quarter and 5.7% for the year, while UK Same Property NOI increased 3.5% for 2025 on a constant currency basis.
The company acquired 14 manufactured housing and RV communities for $457.0 million and completed total dispositions of $5.64 billion, including the marina divestiture. Debt outstanding was $4.3 billion at a 3.4% weighted average rate, with Net Debt to trailing twelve‑month Recurring EBITDA at 3.4x. Sun returned over $1.5 billion of capital to shareholders in 2025, including $539.1 million of share repurchases, and the board approved an 8% increase in the quarterly distribution to $1.12 per share, or $4.48 annually.
Sun Communities President John Bandini McLaren reported a tax-related share disposition. On this Form 4, he used 872 shares of common stock, valued at $131.16 per share, to satisfy tax obligations. After this transaction, he directly holds 75,120 shares and indirectly holds 10 shares in an IRA.
Sun Communities executive Mark E. Patten, who served as Executive Vice President, Chief Financial Officer, Secretary and Treasurer, reported a disposition of company stock. On February 4, 2026, he forfeited 28,892 shares of common stock at a reference price of $127.92 per share.
The forfeited shares were from a time-based restricted stock award granted to him on January 5, 2026 and were forfeited due to his departure from these roles. Following this transaction, he reported owning no shares of Sun Communities common stock directly.
T. Rowe Price Associates, Inc. filed an amended Schedule 13G reporting beneficial ownership of 5,560,089 shares of Sun Communities Inc., representing 4.5% of the REIT’s outstanding class. T. Rowe Price reports sole voting power over 5,508,182 shares and sole dispositive power over 5,560,075 shares, with no shared voting or dispositive power.
The firm certifies the shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Sun Communities, and not in connection with any control-related transaction, other than activities solely in connection with a nomination under the cited proxy rule.
Sun Communities Inc. executive Bruce Thelen, EVP and COO, reported a tax-related share disposition. On February 11, 2026, he disposed of 317 shares of Sun Communities common stock in a transaction coded "F," which represents shares withheld to cover a tax liability or exercise price at $127.81 per share. After this transaction, he directly beneficially owned 56,907 shares of Sun Communities common stock.
Sun Communities, Inc. reported a leadership change in its finance team. On February 4, 2026, the company appointed Fernando Castro‑Caratini as interim Chief Financial Officer, Executive Vice President, Secretary and Treasurer, effective immediately, while it conducts a broad search for a permanent CFO.
Castro‑Caratini previously served as Sun Communities’ CFO for about four years and has extensive finance and capital markets experience, including with Citigroup. Under a Transition Services Agreement effective February 4, 2026, he will serve through February 28, 2027, with salary of $45,833 per month, eligibility for a 2026 performance bonus of up to $1,100,000, and a $1,000,000 tenure bonus if he remains CFO through February 28, 2027.
On the same date, Mark E. Patten departed from his role as Chief Financial Officer, Executive Vice President, Secretary and Treasurer. His departure is described as a mutual decision and not due to any disagreements over financial policies, accounting, or financial statements. In connection with his separation, the company agreed to pay him $3,000,000 in separation payments.
Sun Communities executive Fernando Castro-Caratini has filed an initial ownership report showing his stake in the company. As of the event date of February 4, 2026, he beneficially owns 41,606 shares of Sun Communities, Inc. common stock directly. He serves as Executive Vice President, Chief Financial Officer, Secretary and Treasurer, and this Form 3 filing formally records his current holdings as an officer of the company.
Sun Communities director Brian M. Hermelin received a grant of 1,617 shares of restricted common stock on February 5, 2026. The shares were valued at $123.68 per share and will fully vest on February 5, 2029, if he remains a director of the company or a subsidiary.
After this award, Hermelin directly beneficially owns 27,317 common shares. He also indirectly beneficially owns 1,010 common shares held by family trusts, including a revocable trust where he is trustee and beneficiary and an irrevocable trust for his immediate family.
Sun Communities director Tonya Allen received 1,617 shares of restricted common stock on February 5, 2026 at $123.68 per share. These shares vest on February 5, 2029 if she remains a director of Sun Communities or a subsidiary. After this grant, she beneficially owns 10,426 shares of Sun Communities common stock held directly.