SIMON PROPERTY GROUP INC /DE/ 4
4 · SIMON PROPERTY GROUP INC /DE/ · Filed Feb 27, 2015
Insider Transaction Report
Form 4
BARKLEY JAMES M
General Counsel
Transactions
- Award
LTIP Units
2015-02-26$0.25/sh+57,315$14,329→ 268,732 total→ Common Stock (57,315 underlying)
Footnotes (2)
- [F1]Represents long-term incentive performance ("LTIP") units of Simon Property Group, L.P. (the "Operating Partnership"), of which Simon Property Group, Inc. (the "Company") is the general partner, issued as long-term incentive compensation pursuant to the Operating Partnership's 1998 Stock Incentive Plan in compliance with Rule 16b-3. When earned and vested, each LTIP unit may be converted into a unit of limited partnership interest ("Partnership Unit"). Each Partnership Unit may be exchanged for a share of the Company's common stock, or cash, as selected by the Company.
- [F2]On March 5, 2012, the reporting person was awarded a maximum of 70,937 LTIP units, subject to certain performance conditions. On February 26, 2015, the Compensation Committee of the Board of Directors of the Company determined that the extent to which the performance measures had been achieved during the performance period resulted in 80.8%, or 57,315, of the LTIP units becoming earned LTIP units. The earned LTIP units vest in two equal installments on January 1, 2016 and January 1, 2017 subject to a continued service requirement.