Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-01

Simon Property Group INC. (SPG)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$11,663,678
David Simon total, FY2025
33rd
CEO pay percentile vs peers
148:1
CEO-to-median pay ratio
69.61%
Say-on-pay support, latest vote
Companies that benchmark against SPG
14 companies name SPG as a compensation peer

Each company listed discloses SPG in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named SPG in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
David Simon$1,250,000$3,000,000$7,000,261$0$0$0$413,417$11,663,678
Former Chairman, CEO and President
Eli Simon697,8851,000,0003,000,303000447,3165,145,504
CEO, President and COO
Brian McDade696,154900,0003,000,303000143,9924,740,449
Executive Vice President and Chief Financial Officer
John Rulli700,000900,0002,500,372000124,0214,224,393
Chief Administrative Officer
Steven Fivel700,000900,0002,500,372000121,9854,222,357
General Counsel and Secretary

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
David Simon$11,663,678$61,394,770$15,564,307−49,731,092
Eli Simon5,145,504
Brian McDade4,740,44912,850,8094,560,928−8,110,360
John Rulli4,224,3936,558,0254,090,211−2,333,632
Steven Fivel4,222,35712,362,3914,088,175−8,140,034

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
John RulliCHIEF ADMINISTRATIVE OFFICER2026-04-01D1,156$187$215,629CommonForm 4 ↗
Eli SimonDirector2026-04-01D2,030187378,656CommonForm 4 ↗
Steven FivelGENERAL COUNSEL2026-04-01D1,048187195,483CommonForm 4 ↗
Matthew A. JacksonSVP, ASSISTANT TREASURER2026-04-01A1,361CommonForm 4 ↗
Adam ReuilleSVP & CHIEF ACCOUNTING OFFICER2026-04-01D39118772,933CommonForm 4 ↗
Kevin M. KellyASST. GENERAL COUNSEL/SEC.2026-04-01A1,361CommonForm 4 ↗
Kevin M. KellyASST. GENERAL COUNSEL/SEC.2026-04-01D47818789,161CommonForm 4 ↗
Matthew A. JacksonSVP, ASSISTANT TREASURER2026-04-01D44718783,379CommonForm 4 ↗
Donald G. FreyEVP, TREASURER2026-04-01A2,721CommonForm 4 ↗
Donald G. FreyEVP, TREASURER2026-04-01D1,312187244,727CommonForm 4 ↗
Nina P. JonesDirector2026-05-13A1,073CommonForm 4 ↗
Daniel C. SmithDirector2026-05-13A1,073CommonForm 4 ↗
Martin J. CiccoDirector2026-05-13A1,073CommonForm 4 ↗
Gary M. RodkinDirector2026-05-13A1,073CommonForm 4 ↗
Larry C. GlasscockDirector2026-05-13A1,233CommonForm 4 ↗
Marta R. StewartDirector2026-05-13A1,122CommonForm 4 ↗
Randall J. LewisDirector2026-05-13A1,073CommonForm 4 ↗
Glyn F. AeppelDirector2026-05-13A1,122CommonForm 4 ↗
Stefan M. SeligDirector2026-05-13A1,109CommonForm 4 ↗
Eli SimonDirector2026-05-13A3,11700Derivative, Class A CommonForm 4 ↗
Peggy Fang RoeDirector2026-05-13A1,073CommonForm 4 ↗
Reuben S. LeibowitzDirector2026-05-13A1,159CommonForm 4 ↗
Peggy Fang RoeDirector2026-06-30A8022317,851CommonForm 4 ↗
Marta R. StewartDirector2026-06-30A1224224CommonForm 4 ↗
Daniel C. SmithDirector2026-06-30A112232,457CommonForm 4 ↗
Daniel C. SmithDirector2026-06-30A4722410,547CommonForm 4 ↗
Nina P. JonesDirector2026-06-30A412239,149CommonForm 4 ↗
Peggy Fang RoeDirector2026-06-30A62231,340CommonForm 4 ↗
Martin J. CiccoDirector2026-06-30A132232,901CommonForm 4 ↗
Larry C. GlasscockDirector2026-06-30A132232,900CommonForm 4 ↗
Randall J. LewisDirector2026-06-30A4224894CommonForm 4 ↗
Peggy Fang RoeDirector2026-06-30A3223670CommonForm 4 ↗
Reuben S. LeibowitzDirector2026-06-30A43022395,950CommonForm 4 ↗
Reuben S. LeibowitzDirector2026-06-30A252245,599CommonForm 4 ↗
Marta R. StewartDirector2026-06-30A2224448CommonForm 4 ↗
Gary M. RodkinDirector2026-06-30A20922346,636CommonForm 4 ↗
Gary M. RodkinDirector2026-06-30A432249,645CommonForm 4 ↗
Gary M. RodkinDirector2026-06-30A4223893CommonForm 4 ↗
Nina P. JonesDirector2026-06-30A2223447CommonForm 4 ↗
Glyn F. AeppelDirector2026-06-30A442249,871CommonForm 4 ↗
Glyn F. AeppelDirector2026-06-30A19922344,405CommonForm 4 ↗
Reuben S. LeibowitzDirector2026-06-30A5322511,927CommonForm 4 ↗
Martin J. CiccoDirector2026-06-30A2223447CommonForm 4 ↗
Stefan M. SeligDirector2026-06-30A18722341,727CommonForm 4 ↗
Larry C. GlasscockDirector2026-06-30A33022373,636CommonForm 4 ↗
Larry C. GlasscockDirector2026-06-30A5422512,146CommonForm 4 ↗
Marta R. StewartDirector2026-06-30A17922339,942CommonForm 4 ↗
Daniel C. SmithDirector2026-06-30A31422370,066CommonForm 4 ↗
Stefan M. SeligDirector2026-06-30A332247,392CommonForm 4 ↗
Randall J. LewisDirector2026-06-30A5822312,942CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Brian McDadeRSU2025-03-033,995$750,182
Eli SimonPSU2025-03-036,48612,97123,5452,250,121
John RulliPSU2025-03-035,40510,81019,6221,875,252
David SimonPSU2025-03-0315,13330,26554,9385,250,151
Steven FivelPSU2025-03-035,40510,81019,6221,875,252
Eli SimonRSU2025-03-033,995750,182
Steven FivelRSU2025-03-033,329625,120
John RulliRSU2025-03-033,329625,120
Brian McDadePSU2025-03-036,48612,97123,5452,250,121
David SimonRSU2025-03-039,3201,750,110
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Brian McDade$750,182$2,250,121$075.0%
Eli Simon750,1822,250,121075.0%
John Rulli625,1201,875,252075.0%
David Simon1,750,1105,250,151075.0%
Steven Fivel625,1201,875,252075.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Brian McDadePSU29,137$5,393,550
Brian McDadeRSU1,572290,993
John RulliRSU4,124763,394
SimonRSU20,6193,816,783
SimonPSU54,93810,169,573
John RulliRSU6,2251,152,310
Brian McDadePSU23,5454,358,415
John RulliRSU1,572290,993
SimonRSU124,90123,120,424
SimonPSU97,12117,978,068
Brian McDadeRSU4,924911,482
Steven FivelRSU24,9814,624,233
Steven FivelRSU3,329616,231
John RulliRSU3,329616,231
Steven FivelRSU6,2251,152,310
SimonRSU18,7363,468,221
SimonRSU16,4133,038,210
Brian McDadeRSU2,175402,614
SimonRSU3,093572,545
SimonRSU5,188960,351
John RulliPSU19,6223,632,228
Brian McDadeRSU5,155954,242
John RulliRSU2,175402,614
Steven FivelRSU1,572290,993
Steven FivelRSU2,175402,614
Brian McDadeRSU39,2947,273,712
Steven FivelRSU39,2947,273,712
SimonRSU224,53741,564,044
SimonRSU37,1096,869,247
Brian McDadeRSU31,2265,780,245
SimonRSU31,5755,844,848
John RulliRSU24,9814,624,233
John RulliPSU24,2814,494,656
Steven FivelPSU19,6223,632,228
Steven FivelPSU24,2814,494,656
SimonPSU23,5454,358,415
SimonPSU19,4253,595,762
SimonRSU9,3201,725,225
John RulliRSU11,2272,078,230
Steven FivelRSU4,124763,394
Brian McDadeRSU8,2981,536,043
Steven FivelRSU4,104759,691
SimonRSU3,995739,514
John RulliRSU4,104759,691
Brian McDadeRSU3,995739,514
SimonRSU2,175402,614
SimonRSU3,026560,143
SimonRSU3,283607,716
SimonRSU1,572290,993
05

Incentive-plan design — the Compensation Discussion & Analysis

Our compensation philosophy is grounded in the principle that strong leadership and sound decision-making are critical to creating long-term value for all of our stakeholders. A significant portion of the compensation of our former CEO and other NEOs is at risk and performance-based, in the form of variable pay (annual and long-term incentives), which emphasizes our commitment to rewarding only excellent performance.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantSemler Brossy
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-13191,490,16583,587,104942,37269.61%Passed
20252025-05-14127,540,074140,882,310849,15247.36%Failed
20242024-05-08251,074,43015,254,606789,37894.27%Passed
20232023-05-0428,035,146225,451,008877,84011.06%Failed
20222022-05-11240,071,79816,672,924865,59393.51%Passed
20212021-05-12233,663,14618,995,882617,45492.48%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1369.61%a
20252025-05-1447.36%b
20242024-05-0894.27%c

a. Voting standard not stated in the filing.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not impact the outcome of this proposal, as they are not considered votes cast under the majority of votes cast standard.”.

c. Voting standard not stated in the filing.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)148 : 1
CEO total compensation$11,663,678
Median employee compensation$78,989
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Larry C. GlasscockIndependent · Board Chair · Audit · Governance and Nominating$148,505$217,754$0$0$0$366,259
Reuben S. LeibowitzIndependent · Audit · Compensation and Human Capital (Chair)135,000205,021000340,021
Marta R. StewartIndependent · Audit (Chair)127,500197,284000324,784
Stefan M. SeligIndependent · Audit · Compensation and Human Capital125,000194,705000319,705
Glyn F. AeppelIndependent · Governance and Nominating (Chair)124,511192,127000316,638
Randall J. LewisIndependent · Audit117,500187,130000304,630
Daniel C. Smith, Ph.DIndependent · Compensation and Human Capital117,500187,130000304,630
Nina P. JonesIndependent · Audit117,500187,130000304,630
Gary M. RodkinIndependent · Governance and Nominating116,005184,551000300,556
Peggy Fang RoeIndependent · Governance and Nominating116,005184,551000300,556
Allan HubbardIndependent · Departed during FY45,096000045,096
Martin J. CiccoIndependent · Partial-year service · Newly elected000000
Eli SimonEmployee director00000
David SimonEmployee director · Departed during FY00000
Richard S. SokolovNot independent000000
09

Board fee structure and ownership guideline

Annual cash retainer$110,000
Annual equity retainer$175,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)50,000 / 50,000 / 50,000
Stock ownership guideline$850,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,290,122
Equity awards (grant-date value)$1,937,383
All other compensation$0
Total cost of the board$3,227,505

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Simon Property Group INC. names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Simon Property Group INC..

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1eBay2025Jamie Iannone$1,000,000$23,518,310$0$3,570,000$28,463,890
2TJX Companies2026Ernie Herrman1,700,00014,300,17308,386,10026,603,537
3CBRE Group, Inc.2025Robert Sulentic1,350,00019,023,32403,638,82424,325,039
4Equinix, Inc.2025Adaire Fox-Martin1,000,00021,416,9514322,654,885
5Global Payments2025Cameron Bready1,050,00012,129,9644,002,0222,903,55320,307,392
6State Street2025Ronald O'Hanley1,200,00012,764,92405,399,37519,529,070
7Tapestry2025Joanne Crevoiserat1,400,0006,573,6793,999,9995,303,20017,340,349
8The GAP2025Richard Dickson1,400,00010,891,24204,435,63817,185,636
9Realty Income Corporation2025Sumit Roy1,000,0009,149,49604,981,01216,251,931
10Prologis, Inc.2025Daniel Letter795,38512,500,990015,190,625
11American Tower Corp.2025Steven Vondran1,000,00011,528,74802,280,00014,854,505
12Jones Lang LaSalle, Inc.2025Christian Ulbrich1,042,8899,930,77603,666,00014,675,352
13Crown Castle International Corp.2025Christian Hillabrant269,23112,147,0360823,52214,154,801
14Macy's2025Tony Spring1,337,5009,007,86803,241,62014,104,067
15Simon Property Group INC.2025David Simon1,250,0007,000,2610011,663,678
16Kimco Realty Corp.2025Conor Flynn1,000,0007,080,40103,398,40011,581,750
17Regency Centers Corporation2025Lisa Palmer1,050,0007,099,09802,925,00011,092,432
18Northern Trust2025Michael O'Grady1,000,0006,150,11102,730,00010,059,154
19Federal Realty Investment Trust2025Donald Wood1,000,0007,554,43401,350,0009,929,147
20Cushman & Wakefield2025Michelle MacKay1,243,2695,687,40802,500,0009,469,699
21The Carlyle Group2025Harvey Schwartz1,000,0006,000,0007,149,859
22Tanger Inc.2025Stephen Yalof900,0004,150,03601,809,3757,113,515

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Simon Property Group INC.49.63%LTIP Units 75 · RSU 25Yes — TSR modifierSemler Brossy
American Tower Corp.114%PSU 70 · RSU 30Yes — Relative TSRMeridian Compensation Partners, LLC
CBRE Group, Inc.134.8%PSU 34 · RSU 33 · MSU 33Yes — Relative TSRFrederic W. Cook & Co., Inc.
Crown Castle International Corp.139.16%PRSU 60 · RSU 40NoFW Cook
Cushman & Wakefield100%PSU 50 · RSU 50Yes — Relative TSRPay Governance LLC (through September 2025); Meridian Compensation Partners (from September 2025 forward)
eBay179%PSU 60 · RSU 40Yes — Relative total shareholder return (rTSR)Pay Governance
Equinix, Inc.99%PSU 67 · RSU 33Yes — rTSRCompensia
Federal Realty Investment Trust120%not disclosedNoSemler Brossy Consulting Group
Global Paymentsnot disclosedPSU 50 · Options 25 · RSU 25Yes — Relative TSRFW Cook
Jones Lang LaSalle, Inc.122%PSU 60 · RSU 40NoExequity LLP
Kimco Realty Corp.189%PSU 67 · RSU 33Yes — Total Stockholder Return (TSR)Pay Governance LLC
Macy's120.06%PSU 50 · RSU 50Yes — Relative Total Shareholder Return (rTSR)Semler Brossy Consulting Group LLC
Northern Trustnot disclosednot disclosednot disclosednot disclosed
Prologis, Inc.137.5%PSU 100NoPay Governance
Realty Income Corporation199%PSU 75 · RSU 25Yes — TSR ranking relative to MSCI US REIT IndexFPC
Regency Centers Corporation150%PSU 80 · RSU 20NoSemler Brossy
State Street132.5%PRSU 62 · DSA 38NoMeridian Compensation Partners
Tanger Inc.134.0%PSU 60 · RSU 40Yes — Absolute TSRFerguson Partners
Tapestry189.4%Options 40 · PSU 40 · RSU 20Yes — Relative TSRFrederic W. Cook and Co., Inc.
The Carlyle Group200%not disclosedNoPay Governance
The GAP158%PSU 67 · RSU 33NoFrederic W. Cook & Co., Inc.
TJX Companies180.7%PSU 54 · RSU 35 · Cash LTI 11NoPearl Meyer LLC

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

FAQ

Frequently asked questions

Who was the highest-paid executive at Simon Property Group INC. in fiscal 2025?
As disclosed, the highest-paid executive was David Simon, who served as Former Chairman, CEO and President, with total compensation of $11,663,678.
How does Simon Property Group INC.'s chief executive pay compare to its disclosed peer group?
The filing shows the CEO's pay was in the 33rd percentile of the disclosed peer group.
What is Simon Property Group INC.'s CEO-to-median employee pay ratio?
The company reported a CEO-to-median employee pay ratio of 148:1.
How did shareholders vote on Simon Property Group INC.'s executive compensation?
Shareholders voted in favor of the executive compensation plan with 69.61% support in the latest vote.
How much does Simon Property Group INC. spend in total on board compensation for fiscal 2025?
The total board compensation for fiscal 2025 was $3,227,505.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, David SimonDEF 14A2026-04-010001104659-26-038320Section “Summary Compensation Table”. As printed: 11,663,678. Filing ↗machine: t240 · r4 · c17 · span 1804893–1804903
2Section 01, Eli SimonDEF 14A2026-04-010001104659-26-038320Section “Summary Compensation Table”. As printed: 5,145,504. Filing ↗machine: t240 · r10 · c17 · span 1837507–1837516
3Section 01, Brian McDadeDEF 14A2026-04-010001104659-26-038320Section “Summary Compensation Table”. As printed: 4,740,449. Filing ↗machine: t240 · r7 · c17 · span 1821176–1821185
4Section 01, John RulliDEF 14A2026-04-010001104659-26-038320Section “Summary Compensation Table”. As printed: 4,224,393. Filing ↗machine: t240 · r16 · c17 · span 1869869–1869878
5Section 01, Steven FivelDEF 14A2026-04-010001104659-26-038320Section “Summary Compensation Table”. As printed: 4,222,357. Filing ↗machine: t240 · r13 · c17 · span 1853653–1853662
6Section 03, Brian McDade RSUDEF 14A2026-04-010001104659-26-038320Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t248 · r12 · c12 · span 1974967–1974972
7Section 03, Eli Simon PSUDEF 14A2026-04-010001104659-26-038320Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t248 · r15 · c8 · span 1987569–1987575
8Section 03, John Rulli PSUDEF 14A2026-04-010001104659-26-038320Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t248 · r19 · c8 · span 2005759–2005765
9Section 03, David Simon PSUDEF 14A2026-04-010001104659-26-038320Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t248 · r11 · c8 · span 1969245–1969251
10Section 03, Steven Fivel PSUDEF 14A2026-04-010001104659-26-038320Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t248 · r17 · c8 · span 1996642–1996648
11Section 03, Eli Simon RSUDEF 14A2026-04-010001104659-26-038320Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t248 · r14 · c12 · span 1984152–1984157
12Section 03, Steven Fivel RSUDEF 14A2026-04-010001104659-26-038320Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t248 · r16 · c12 · span 1993159–1993164
13Section 03, John Rulli RSUDEF 14A2026-04-010001104659-26-038320Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t248 · r18 · c12 · span 2002293–2002298
14Section 03, Brian McDade PSUDEF 14A2026-04-010001104659-26-038320Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t248 · r13 · c8 · span 1978502–1978508
15Section 03, David Simon RSUDEF 14A2026-04-010001104659-26-038320Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t248 · r10 · c12 · span 1965759–1965764
16Section 07, pay ratioDEF 14A2026-04-01000110465926038320Section “CEO Pay Ratio”. As printed: 148 : 1. Filing ↗machine: span 2522743–2522751
17Section 08, Larry C. GlasscockDEF 14A2026-04-010001104659-26-038320Section “Director Compensation”. As printed: 366,259. Filing ↗machine: t104 · r5 · c9 · span 695730–695737
18Section 08, Reuben S. LeibowitzDEF 14A2026-04-010001104659-26-038320Section “Director Compensation”. As printed: 340,021. Filing ↗machine: t104 · r8 · c9 · span 705550–705557
19Section 08, Marta R. StewartDEF 14A2026-04-010001104659-26-038320Section “Director Compensation”. As printed: 324,784. Filing ↗machine: t104 · r14 · c9 · span 724949–724956
20Section 08, Stefan M. SeligDEF 14A2026-04-010001104659-26-038320Section “Director Compensation”. As printed: 319,705. Filing ↗machine: t104 · r12 · c9 · span 718477–718484
21Section 08, Glyn F. AeppelDEF 14A2026-04-010001104659-26-038320Section “Director Compensation”. As printed: 316,638. Filing ↗machine: t104 · r4 · c9 · span 692495–692502
22Section 08, Randall J. LewisDEF 14A2026-04-010001104659-26-038320Section “Director Compensation”. As printed: 304,630. Filing ↗machine: t104 · r9 · c9 · span 708783–708790
23Section 08, Daniel C. Smith, Ph.DDEF 14A2026-04-010001104659-26-038320Section “Director Compensation”. As printed: 304,630. Filing ↗machine: t104 · r13 · c9 · span 721716–721723
24Section 08, Nina P. JonesDEF 14A2026-04-010001104659-26-038320Section “Director Compensation”. As printed: 304,630. Filing ↗machine: t104 · r7 · c9 · span 702314–702321
25Section 08, Gary M. RodkinDEF 14A2026-04-010001104659-26-038320Section “Director Compensation”. As printed: 300,556. Filing ↗machine: t104 · r10 · c9 · span 712014–712021
26Section 08, Peggy Fang RoeDEF 14A2026-04-010001104659-26-038320Section “Director Compensation”. As printed: 300,556. Filing ↗machine: t104 · r11 · c9 · span 715245–715252
27Section 08, Allan HubbardDEF 14A2026-04-010001104659-26-038320Section “Director Compensation”. As printed: 45,096. Filing ↗machine: t104 · r6 · c3 · span 697141–697147
28Section 08, Martin J. CiccoDEF 14A2026-04-010001104659-26-038320Section “Director Compensation”. As printed: 0. Filing ↗
29Section 08, Eli SimonDEF 14A2026-04-010001104659-26-038320Section “Director Compensation”. As printed: 0. Filing ↗
30Section 08, David SimonDEF 14A2026-04-010001104659-26-038320Section “Director Compensation”. As printed: 0. Filing ↗
31Section 08, Richard S. SokolovDEF 14A2026-04-010001104659-26-038320Section “Director Compensation”. As printed: 0. Filing ↗
32Section 02, John Rulli 2026-04-01Form 42026-04-020001235740-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Eli Simon 2026-04-01Form 42026-04-020001803666-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Steven Fivel 2026-04-01Form 42026-04-020001239904-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Matthew A. Jackson 2026-04-01Form 42026-04-020001943435-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Adam Reuille 2026-04-01Form 42026-04-020001754744-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Kevin M. Kelly 2026-04-01Form 42026-04-020001942369-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Kevin M. Kelly 2026-04-01Form 42026-04-020001942369-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Matthew A. Jackson 2026-04-01Form 42026-04-020001943435-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Donald G. Frey 2026-04-01Form 42026-04-020001942368-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Donald G. Frey 2026-04-01Form 42026-04-020001942368-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Nina P. Jones 2026-05-13Form 42026-05-150002007895-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Daniel C. Smith 2026-05-13Form 42026-05-150001464273-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Martin J. Cicco 2026-05-13Form 42026-05-150002109729-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Gary M. Rodkin 2026-05-13Form 42026-05-150001199045-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Larry C. Glasscock 2026-05-13Form 42026-05-150001189793-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Marta R. Stewart 2026-05-13Form 42026-05-150001272064-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, Randall J. Lewis 2026-05-13Form 42026-05-150001123485-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
49Section 02, Glyn F. Aeppel 2026-05-13Form 42026-05-150001340262-26-000009Insider equity transaction reported since the proxy statement. Filing ↗
50Section 02, Stefan M. Selig 2026-05-13Form 42026-05-150001709407-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
51Section 02, Eli Simon 2026-05-13Form 42026-05-150001803666-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
52Section 02, Peggy Fang Roe 2026-05-13Form 42026-05-150001898688-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
53Section 02, Reuben S. Leibowitz 2026-05-13Form 42026-05-150001210982-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
54Section 02, Peggy Fang Roe 2026-06-30Form 42026-07-010001898688-26-000009Insider equity transaction reported since the proxy statement. Filing ↗
55Section 02, Marta R. Stewart 2026-06-30Form 42026-07-010001272064-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
56Section 02, Daniel C. Smith 2026-06-30Form 42026-07-010001464273-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
57Section 02, Daniel C. Smith 2026-06-30Form 42026-07-010001464273-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
58Section 02, Nina P. Jones 2026-06-30Form 42026-07-010002007895-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
59Section 02, Peggy Fang Roe 2026-06-30Form 42026-07-010001898688-26-000009Insider equity transaction reported since the proxy statement. Filing ↗
60Section 02, Martin J. Cicco 2026-06-30Form 42026-07-010002109729-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
61Section 02, Larry C. Glasscock 2026-06-30Form 42026-07-010001189793-26-000011Insider equity transaction reported since the proxy statement. Filing ↗
62Section 02, Randall J. Lewis 2026-06-30Form 42026-07-010001123485-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
63Section 02, Peggy Fang Roe 2026-06-30Form 42026-07-010001898688-26-000009Insider equity transaction reported since the proxy statement. Filing ↗
64Section 02, Reuben S. Leibowitz 2026-06-30Form 42026-07-010001210982-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
65Section 02, Reuben S. Leibowitz 2026-06-30Form 42026-07-010001210982-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
66Section 02, Marta R. Stewart 2026-06-30Form 42026-07-010001272064-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
67Section 02, Gary M. Rodkin 2026-06-30Form 42026-07-010001199045-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
68Section 02, Gary M. Rodkin 2026-06-30Form 42026-07-010001199045-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
69Section 02, Gary M. Rodkin 2026-06-30Form 42026-07-010001199045-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
70Section 02, Nina P. Jones 2026-06-30Form 42026-07-010002007895-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
71Section 02, Glyn F. Aeppel 2026-06-30Form 42026-07-010001340262-26-000011Insider equity transaction reported since the proxy statement. Filing ↗
72Section 02, Glyn F. Aeppel 2026-06-30Form 42026-07-010001340262-26-000011Insider equity transaction reported since the proxy statement. Filing ↗
73Section 02, Reuben S. Leibowitz 2026-06-30Form 42026-07-010001210982-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
74Section 02, Martin J. Cicco 2026-06-30Form 42026-07-010002109729-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
75Section 02, Stefan M. Selig 2026-06-30Form 42026-07-010001709407-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
76Section 02, Larry C. Glasscock 2026-06-30Form 42026-07-010001189793-26-000011Insider equity transaction reported since the proxy statement. Filing ↗
77Section 02, Larry C. Glasscock 2026-06-30Form 42026-07-010001189793-26-000011Insider equity transaction reported since the proxy statement. Filing ↗
78Section 02, Marta R. Stewart 2026-06-30Form 42026-07-010001272064-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
79Section 02, Daniel C. Smith 2026-06-30Form 42026-07-010001464273-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
80Section 02, Stefan M. Selig 2026-06-30Form 42026-07-010001709407-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
81Section 02, Randall J. Lewis 2026-06-30Form 42026-07-010001123485-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
82Section 06, 2026 voteForm 8-K2026-05-150001104659-26-062012Item 5.07 · say-on-pay result. As reported: 69.61% (votes for as printed: 191,490,165). Filing ↗
83Section 06, 2025 voteForm 8-K2025-05-150001104659-25-049284Item 5.07 · say-on-pay result. As reported: 47.36% (votes for as printed: 127,540,074). Filing ↗
84Section 06, 2024 voteForm 8-K2024-05-080001104659-24-058578Item 5.07 · say-on-pay result. As reported: 94.27% (votes for as printed: 251,074,430). Filing ↗
85Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
86Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
87Section 09b board cost (computed)ComputedcomputedCash 1,290,122 + equity 1,937,383 + all other 0 = 3,227,505, summed across the director compensation table rows.machine: formula: Σ = 3,227,505
88eBay, Section 10b CEO totalDEF 14A2026-04-300001552781-26-000285CEO total compensation as printed in eBay's own proxy. As printed: 28,463,890. Filing ↗machine: t357 · r8 · c9 · span 939586–939596
89TJX Companies, Section 10b CEO totalDEF 14A2026-04-300000109198-26-000015CEO total compensation as printed in TJX Companies's own proxy. As printed: 26,603,537. Filing ↗machine: r2 · c21 · span 787052–787062
90CBRE Group, Inc., Section 10b CEO totalDEF 14A2026-04-030001193125-26-141285CEO total compensation as printed in CBRE Group, Inc.'s own proxy. As printed: 24,325,039. Filing ↗machine: t20 · r6 · c18 · span 508434–508444
91Equinix, Inc., Section 10b CEO totalDEF 14A2026-04-020001101239-26-000073CEO total compensation as printed in Equinix, Inc.'s own proxy. As printed: 22,654,885. Filing ↗machine: span 1101160–1101170
92Global Payments, Section 10b CEO totalDEF 14A2026-03-170001104659-26-029453CEO total compensation as printed in Global Payments's own proxy. As printed: 20,307,392. Filing ↗
93State Street, Section 10b CEO totalDEF 14A2026-04-080001140361-26-013817CEO total compensation as printed in State Street's own proxy. As printed: 19,529,070. Filing ↗machine: t240 · r2 · c25 · span 1621758–1621768
94Tapestry, Section 10b CEO totalDEF 14A2025-09-260001140361-25-036303CEO total compensation as printed in Tapestry's own proxy. As printed: 17,340,349. Filing ↗machine: t223 · r2 · c25 · span 1671584–1671594
95The GAP, Section 10b CEO totalDEF 14A2026-03-270001628280-26-021740CEO total compensation as printed in The GAP's own proxy. As printed: 17,185,636. Filing ↗machine: r3 · c27 · span 1131780–1131790
96Realty Income Corporation, Section 10b CEO totalDEF 14A2026-03-250000726728-26-000021CEO total compensation as printed in Realty Income Corporation's own proxy. As printed: 16,251,931. Filing ↗machine: r3 · c18 · span 1118130–1118140
97Prologis, Inc., Section 10b CEO totalDEF 14A2026-03-190001193125-26-115132CEO total compensation as printed in Prologis, Inc.'s own proxy. As printed: 15,190,625. Filing ↗machine: span 926776–926786
98American Tower Corp., Section 10b CEO totalDEF 14A2026-04-080001053507-26-000088CEO total compensation as printed in American Tower Corp.'s own proxy. As printed: 14,854,505. Filing ↗machine: span 1362503–1362513
99Jones Lang LaSalle, Inc., Section 10b CEO totalDEF 14A2026-04-170001037976-26-000099CEO total compensation as printed in Jones Lang LaSalle, Inc.'s own proxy. As printed: 14,675,352. Filing ↗machine: r2 · c39 · span 1021535–1021545
100Crown Castle International Corp., Section 10b CEO totalDEF 14A2026-04-060001051470-26-000039CEO total compensation as printed in Crown Castle International Corp.'s own proxy. As printed: 14,154,801. Filing ↗machine: r3 · c42 · span 809142–809152
101Macy's, Section 10b CEO totalDEF 14A2026-03-310001104659-26-037752CEO total compensation as printed in Macy's's own proxy. As printed: 14,104,067. Filing ↗machine: t362 · r9 · c18 · span 1944230–1944240
102Simon Property Group INC. (subject), Section 10b CEO totalDEF 14A2026-04-010001104659-26-038320CEO total compensation as printed in Simon Property Group INC.'s own proxy. As printed: 11,663,678. Filing ↗machine: t240 · r4 · c17 · span 1804893–1804903
103Kimco Realty Corp., Section 10b CEO totalDEF 14A2026-04-080001206774-26-000197CEO total compensation as printed in Kimco Realty Corp.'s own proxy. As printed: 11,581,750. Filing ↗machine: t133 · r4 · c7 · span 542175–542185
104Regency Centers Corporation, Section 10b CEO totalDEF 14A2026-03-250001193125-26-122880CEO total compensation as printed in Regency Centers Corporation's own proxy. As printed: 11,092,432. Filing ↗machine: r7 · c23 · span 803411–803422
105Northern Trust, Section 10b CEO totalDEF 14A2026-03-110000073124-26-000022CEO total compensation as printed in Northern Trust's own proxy. As printed: 10,059,154. Filing ↗machine: r3 · c36 · span 1256395–1256406
106Federal Realty Investment Trust, Section 10b CEO totalDEF 14A2026-03-270001193125-26-127642CEO total compensation as printed in Federal Realty Investment Trust's own proxy. As printed: 9,929,147. Filing ↗machine: t136 · r3 · c27 · span 657645–657654
107Cushman & Wakefield, Section 10b CEO totalDEF 14A2026-04-030001628369-26-000046CEO total compensation as printed in Cushman & Wakefield's own proxy. As printed: 9,469,699. Filing ↗machine: r2 · c21 · span 986050–986059
108The Carlyle Group, Section 10b CEO totalDEF 14A2026-04-230001527166-26-000017CEO total compensation as printed in The Carlyle Group's own proxy. As printed: 7,149,859. Filing ↗machine: span 1925524–1925533
109Tanger Inc., Section 10b CEO totalDEF 14A2026-03-260001628280-26-021249CEO total compensation as printed in Tanger Inc.'s own proxy. As printed: 7,113,515. Filing ↗machine: r5 · c33 · span 922980–922989
110Section 10a, Global Payments reciprocityDEF 14A0001104659-25-023451Global Payments's most recent proxy was read; its disclosed peer group does not include Simon Property Group INC.. Filing ↗
111Section 10a, The GAP reciprocityDEF 14A0001628280-26-021740The GAP's most recent proxy was read; its disclosed peer group does not include Simon Property Group INC.. Filing ↗
112Section 10a, Tapestry reciprocityDEF 14A0001140361-25-036303Tapestry's most recent proxy was read; its disclosed peer group does not include Simon Property Group INC.. Filing ↗
113Section 10a, American Tower Corp. reciprocityDEF 14A0001053507-26-000088American Tower Corp. names Simon Property Group INC. in its own disclosed peer group (read from its most recent proxy). Filing ↗
114Section 10a, Jones Lang LaSalle, Inc. reciprocityDEF 14A0001037976-26-000099Jones Lang LaSalle, Inc.'s most recent proxy was read; its disclosed peer group does not include Simon Property Group INC.. Filing ↗
115Section 10a, Regency Centers Corporation reciprocityDEF 14A0001193125-26-122880Regency Centers Corporation's most recent proxy was read; its disclosed peer group does not include Simon Property Group INC.. Filing ↗
116Section 10a, The Carlyle Group reciprocityDEF 14A0001527166-26-000017The Carlyle Group's most recent proxy was read; its disclosed peer group does not include Simon Property Group INC.. Filing ↗
117Section 10a, Prologis, Inc. reciprocityDEF 14A0001193125-26-115132Prologis, Inc.'s most recent proxy was read; its disclosed peer group does not include Simon Property Group INC.. Filing ↗
118Section 10a, Equinix, Inc. reciprocityDEF 14A0001101239-26-000073Equinix, Inc.'s most recent proxy was read; its disclosed peer group does not include Simon Property Group INC.. Filing ↗
119Section 10a, CBRE Group, Inc. reciprocityDEF 14A0001193125-26-141285CBRE Group, Inc.'s most recent proxy was read; its disclosed peer group does not include Simon Property Group INC.. Filing ↗
120Section 10a, Northern Trust reciprocityDEF 14A0000073124-26-000022Northern Trust's most recent proxy was read; its disclosed peer group does not include Simon Property Group INC.. Filing ↗
121Section 10a, Cushman & Wakefield reciprocityDEF 14A0001628369-26-000046Cushman & Wakefield's most recent proxy was read; its disclosed peer group does not include Simon Property Group INC.. Filing ↗
122Section 10a, Realty Income Corporation reciprocityDEF 14A0000726728-26-000021Realty Income Corporation names Simon Property Group INC. in its own disclosed peer group (read from its most recent proxy). Filing ↗
123Section 10a, Federal Realty Investment Trust reciprocityDEF 14A0001193125-25-066328Federal Realty Investment Trust's most recent proxy was read; its disclosed peer group does not include Simon Property Group INC.. Filing ↗
124Section 10a, Macy's reciprocityDEF 14A0001104659-26-037752Macy's's most recent proxy was read; its disclosed peer group does not include Simon Property Group INC.. Filing ↗
125Section 10a, Tanger Inc. reciprocityDEF 14A0001628280-26-021249Tanger Inc.'s most recent proxy was read; its disclosed peer group does not include Simon Property Group INC.. Filing ↗