Summary
Larry C. Glasscock, who serves on the board of Simon Property Group, acquired 373 shares of the company’s common stock on March 31, 2026, according to a Form 4 submitted to the Securities and Exchange Commission. The shares were purchased at $183.80 each for a total of $68,557 through the reinvestment of dividends on restricted stock awarded as non-cash compensation under the Simon Property Group, L.P. 2019 Stock Incentive Plan.
Transaction details
The filing shows the purchase price per share was $183.8 and that, after the transaction, Glasscock directly holds 44,272 shares of Simon Property Group. At the time of reporting, the stock traded at $188.59, a modest increase from Glasscock’s purchase price.
Context within corporate changes
The purchase comes as Simon Property Group undergoes senior leadership changes. Following the passing of David Simon, the company’s chairman, CEO, and president, at age 64, Eli Simon was appointed CEO and president. Concurrently, Larry Glasscock was named non-executive chairman of the board.
Financing and analyst positions
Alongside the leadership transition, the company amended and extended its $5 billion multi-currency unsecured revolving credit facility. The facility now matures on June 30, 2030, with an option to extend for one year. The amendment reduced the interest margin for U.S. Dollar borrowings by 15 basis points to SOFR plus 65 basis points, stated to reflect the company’s current credit ratings.
Following the announcement of David Simon’s death, Barclays, Stifel, and BMO Capital reiterated their ratings on the stock and set price targets at $193.00, $185.00, and $220.00, respectively. Separately, an InvestingPro analysis cited in the filing indicates the stock appears overvalued relative to its Fair Value. The REIT currently offers a dividend yield of 4.72% and has paid dividends for 33 consecutive years.
Ownership and compensation mechanics
The reported purchase was executed through dividend reinvestment of restricted stock awarded as non-cash compensation under the company’s 2019 Stock Incentive Plan. The filing identifies the transaction as related to that plan rather than an open-market buy.
What this record shows
The Form 4 documents a director-level reinvestment of dividends into common shares and confirms post-transaction ownership. It also sits alongside several material corporate developments - a CEO succession, a board leadership change, updated analyst price targets, and an amended credit facility - all disclosed publicly.