Baxter R. Underwood - 31 Dec 2022 Form 5 Insider Report for SUN COMMUNITIES INC (SUI)

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Ownership	Footnotes
transaction	SUI	SERIES H PREFERRED OPERATING PARTNERSHIP UNITS	Gift	$0	-61,703	-100%	$0.000000^*	0	07 Nov 2022	COMMON STOCK, $0.01 PAR VALUE	37,623	See footnote	F1, F2, F3
holding	SUI	SERIES H PREFERRED OPERATING PARTNERSHIP UNITS						20,567	31 Dec 2022	COMMON STOCK, $0.01 PAR VALUE	12,540	See footnote	F1, F2, F3
holding	SUI	SERIES H PREFERRED OPERATING PARTNERSHIP UNITS						30,343	31 Dec 2022	COMMON STOCK, $0.01 PAR VALUE	18,850	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Id	Content
F1	Issued by the Issuer's operating partnership, Sun Communities Operating Limited Partnership.
F2	Each series H Preferred OP Unit can be exchanged for a number of shares of the Issuer's common stock equal to the quotient obtained by dividing $100.00 by $164.00 (as such ratio is subject to adjustments for certain capital events) at the holder's option and have no expiration date.
F3	Owned by a family limited partnership. On November 7, 2022, the family limited partnership transferred all the Series H Preferred OP Units that it held to various trusts. 20,567 of such Series H Preferred OP Units were transferred to an irrevocable trust of which the reporting person is a trustee and a beneficiary.