Adam Reuille - Mar 11, 2022 Form 4 Insider Report for SIMON PROPERTY GROUP INC /DE/ (SPG)

Role
SVP & Chief Accounting Officer
Signature
/s/ Adam Reuille by his attorney-in-fact, Alexander L.W. Snyder
Stock symbol
SPG
Transactions as of
Mar 11, 2022
Transactions value $
$313
Form type
4
Date filed
3/15/2022, 04:12 PM
Previous filing
Jan 4, 2022
Next filing
Apr 5, 2022

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

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SPG LTIP Units Award $313 +1.25K +197.78% $0.25* 1.88K Mar 11, 2022 Common Stock 1.25K Direct F1, F2
transaction SPG Restricted Stock Units Award $0 +962 $0.00 962 Mar 11, 2022 Common Stock 962 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
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 May 8, 2019, the Reporting Person was awarded a maximum of 3,286 LTIP units, subject to certain performance conditions. On March 11, 2022, 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 38.0%, or 1,250 of the LTIP units becoming earned LTIP units. The earned LTIP units vest on January 1, 2023, 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 and will vest on March 11, 2025, 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.