STEWART MARTA R 4

What Happened
Marta R. Stewart, a director of Simon Property Group (SPG), recorded a purchase of 196 shares on March 31, 2026. The shares were reported at $183.80 each, for a total transaction value of approximately $36,025. The transaction is coded as a purchase (P).

Key Details

• Transaction date: 2026-03-31; filing date (Form 4): 2026-04-01 (appears timely).
• Price: $183.80 per share; Shares acquired: 196; Total value: ~$36,025.
• Shares owned after transaction: not specified in the filing.
• Footnote F1: These shares were acquired through reinvestment of dividends received on restricted stock awarded as non-cash compensation under the Simon Property Group, L.P. 2019 Stock Incentive Plan (i.e., dividend reinvestment on restricted awards rather than a typical open-market buy).

Context
Dividend reinvestment into restricted stock is a common way for insiders to accumulate shares and reflects dividend-driven compounding rather than an active open-market purchase expressing additional cash deployment. This type of transaction is largely administrative/compensatory in nature; it provides ownership detail but should not be taken alone as a directional signal about management’s view.