FIVEL STEVEN E 4
4 · SIMON PROPERTY GROUP INC. · Filed Mar 13, 2026
Research Summary
AI-generated summary of this filing
Simon Property Group (SPG) GC Steven Fivel Receives Awards
What Happened
Steven E. Fivel, General Counsel of Simon Property Group (SPG), received two derivative compensation awards reported on 2026-03-11: 24,981 LTIP units at $0.25 each (reported total $6,245) and 4,616 Restricted Stock Units (RSUs) at $0.00. These are grants/awards (Form 4 transaction code A), not open-market purchases or sales.
Key Details
- Transaction date: March 11, 2026 (filed March 13, 2026; filing appears timely).
- Award 1: 24,981 LTIP units reported at $0.25 per unit — total reported value $6,245. These were originally granted on March 1, 2023 as a potential award; the Compensation Committee certified 100% vesting (24,981 units) on March 11, 2026. LTIP units are derivative interests in Simon Property Group, L.P. and may convert to Partnership Units and then be exchanged for Company common stock or cash. Vesting: these earned LTIP units vest January 1, 2027, subject to continued service and usual exceptions (death/disability, change of control, approved retirement, etc.).
- Award 2: 4,616 RSUs reported at $0.00. Each RSU represents the right to receive one share of SPG common stock at settlement. Vesting: RSUs will vest on March 11, 2029, subject to continued service (with certain earlier vesting triggers per plan).
- Shares owned after transaction: not specified in the provided filing excerpt.
- Nature of transaction: Derivative awards/compensation (A). Not a market buy/sell — these are compensation grants and do not necessarily reflect immediate insider buying or selling.
Context
- LTIP units are performance-based long-term incentive awards; the reporting shows the performance conditions were met and the units became earned on March 11, 2026, but they do not immediately convert to common shares — conversion/settlement and final transfer are subject to vesting and plan terms.
- RSUs similarly represent contingent rights to future shares and will settle in stock when vested.
- These awards are routine executive compensation, reported as derivative grants rather than open-market transactions.
Insider Transaction Report
Form 4
FIVEL STEVEN E
GENERAL COUNSEL
Transactions
- Award
LTIP Units
[F1][F2]2026-03-11$0.25/sh+24,981$6,245→ 181,060 total→ Common Stock (24,981 underlying) - Award
Restricted Stock Units
[F3][F4]2026-03-11+4,616→ 4,616 total→ Common Stock (4,616 underlying)
Footnotes (4)
- [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 2019 Stock Incentive Plan (the "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 1, 2023, the Reporting Person was awarded a maximum of 24,981 LTIP units, subject to certain performance conditions. On March 11, 2026, the Compensation and Human Capital Committee (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 100%, or 24,981 of the LTIP units becoming earned LTIP units. The earned LTIP units vest on January 1, 2027, subject to a continued service requirement, or may vest earlier due to the Reporting Person's death or disability, a change of control of the Company, the retirement of the Reporting Person, subject to the approval of the Company's Compensation Committee, or as may otherwise be determined by the Company's Compensation Committee in accordance with the terms of the grant agreement and the Plan.
- [F3]Each Restricted Stock Unit ("RSU") represents the contingent right to receive, at settlement, one share of common stock of the Company.
- [F4]The RSUs are being issued pursuant to the Plan, in compliance with Rule 16b-3. The RSUs will vest on March 11, 2029, subject to a continued service requirement, or may vest and settle earlier due the Reporting Person's death or disability, a change of control of the Company, the retirement of the Reporting Person, subject to the approval of the Company's Compensation Committee, or as may otherwise be determined by the Company's Compensation Committee in accordance with the terms of the grant agreement and the Plan. Vested RSUs will be settled in shares of the Company's common stock as soon as practicable after the vesting date.
Signature
Steve E. Fivel|2026-03-13