SEC Form 4 · accession 0001179110-15-003574
SIMON PROPERTY GROUP INC. · SPG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard S Sokolov
Officer — President and COO · Director
Period of report
Feb 26, 2015
Accepted (ET)
Feb 27, 2015 · 11:52 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001063761
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LTIP UnitsF1,F2 | — | Feb 26, 2015 | A | 65,912 | A | — | — | Common Stock | 65,912 | 311,737 | D |
Explanation of responses
- F1Represents 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 1998 Stock Incentive 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.
- F2On March 5, 2012, the reporting person was awarded a maximum of 81,577 LTIP units, subject to certain performance conditions. On February 26, 2015, 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 80.8%, or 65,912, of the LTIP units becoming earned LTIP units. The earned LTIP units vest in two equal installments on January 1, 2016 and January 1, 2017 subject to a continued service requirement.