SEC Form 4 · accession 0001179110-16-021547
SIMON PROPERTY GROUP INC. · SPG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David J Contis
Officer — Sr. EVP/Pres.- Simon Malls
Period of report
Mar 1, 2016
Accepted (ET)
Mar 11, 2016 · 4:43 pm 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 | — | Mar 1, 2016 | A | 32,747 | A | — | — | Common Stock | 32,747 | 75,809 | 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 29, 2013, the reporting person was awarded a maximum of 39,520 LTIP units, subject to certain performance conditions. On March 1, 2016, 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 82.9%, or 32,747, of the LTIP units becoming earned LTIP units. The earned LTIP units vest in two equal installments on January 1, 2017 and January 1, 2018 subject to a continued service requirement.