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SIMON PROPERTY GROUP INC /DE/ — Director's Dealing 2016
Mar 11, 2016
29949_dirs_2016-03-11_99034e23-a6d5-489d-9088-26e4d42fa095.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: SIMON PROPERTY GROUP INC /DE/ (SPG)
CIK: 0001063761
Period of Report: 2016-03-01
Reporting Person: SIMON DAVID (Director, CEO/Chairman of the Board)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2016-03-01 | LTIP Units | $ | A | 188054 | Acquired | Common Stock (188054) | Direct |
Footnotes
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 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.
F2: On March 29, 2013, the reporting person was awarded a maximum of 226,949 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 188,054, 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.