SEC Form 4 · accession 0001179110-17-003618
SIMON PROPERTY GROUP INC. · SPG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Steven E Fivel
Officer — General Counsel
Period of report
Feb 28, 2017
Accepted (ET)
Mar 2, 2017 · 4:16 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 | — | Feb 28, 2017 | A | 8,751 | A | — | — | Common Stock | 8,751 | 75,472 | 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 April 16, 2014, the reporting person was awarded a maximum of 22,019 LTIP units, subject to certain performance conditions. On February 28, 2017, 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 39.7%, or 8,751 of the LTIP units becoming earned LTIP units. The earned LTIP units vest in two equal installments on January 1, 2018 and January 1, 2019 subject to a continued service requirement.
Remarks
Exhibit List Exhibit 24 - Power of Attorney