Frey Donald G 4
4 · SIMON PROPERTY GROUP INC. · Filed Mar 13, 2026
Research Summary
AI-generated summary of this filing
Simon Property (SPG) EVP Donald G. Frey Receives LTIP & RSU Awards
What Happened
- Donald G. Frey, Executive Vice President and Treasurer of Simon Property Group (SPG), was awarded two types of long‑term compensation on March 11, 2026: 6,246 long‑term incentive performance (LTIP) units (reported at $0.25 each, total $1,562) and 990 restricted stock units (RSUs) (reported at $0.00).
- These were awards (transaction code A) recorded as derivative acquisitions — not open‑market purchases or sales. LTIP units were determined to have been earned at 100% for the performance period; RSUs are a contingent right to receive shares on vesting.
Key Details
- Transaction date: March 11, 2026; Filing date (Form 4): March 13, 2026 — appears timely (filed within the standard two business days).
- LTIP award: 6,246 units @ $0.25 each (reported total $1,562). These were originally granted on March 1, 2023 as a maximum award and were certified at 100% on March 11, 2026.
- RSU award: 990 RSUs @ $0.00 (reported $0).
- Shares owned after transaction: Not specified in the excerpt provided.
- Notable footnotes:
- LTIP units are performance‑based units of the Operating Partnership that, when earned and vested, convert to Partnership Units, which may be exchanged for Company common stock or cash (F1, F2).
- RSUs represent the right to receive one share per unit at settlement and will be settled in shares when they vest (F3, F4).
- Vesting/conditions:
- Earned LTIP units vest on January 1, 2027 subject to continued service (earlier vesting possible on death/disability, change of control, retirement with Committee approval, or other Committee determination).
- RSUs vest on March 11, 2029 subject to continued service (earlier vesting possible under similar conditions).
Context
- These are compensation awards tied to performance and service, not purchases or sales — they do not directly signal insider buying/selling intent. LTIP units are derivative awards tied to future conversion to partnership units or shares/cash; RSUs convert to shares upon vesting. The LTIP payout reflects achievement of performance metrics for the award granted in 2023.
Insider Transaction Report
Form 4
Frey Donald G
EVP, TREASURER
Transactions
- Award
LTIP Units
[F1][F2]2026-03-11$0.25/sh+6,246$1,562→ 12,130 total→ Common Stock (6,246 underlying) - Award
Restricted Stock Units
[F3][F4]2026-03-11+990→ 990 total→ Common Stock (990 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 6,246 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 6,246 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
/s/ Donald G. Frey by his attorney-in-fact, Kevin M. Kelly|2026-03-13