Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
SPG > SEC Filings for SPG > Form 8-K on 10-Apr-2014All Recent SEC Filings

Show all filings for SIMON PROPERTY GROUP INC /DE/

Form 8-K for SIMON PROPERTY GROUP INC /DE/


10-Apr-2014

Change in Directors or Principal Officers, Financial Statements and


ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION
OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS, COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS

The Compensation Committee (the "Committee") of the Board of Directors (the "Board") of Simon Property Group, Inc., ("we", "us", or the "Company") approved, and recommended to the Board for approval, an amendment (the "April Amendment") to the Simon Property Group, L.P Amended and Restated 1998 Stock Incentive Plan, as amended (the "Plan"). On April 4, 2014 the Board approved the April Amendment. In February 2014, the Board approved an amendment to the Plan (the "February Amendment") that had been approved and recommended to the Board for approval by the Committee.

The February Amendment (i) removed from the Plan certain language which was added in connection with an amendment in July 2011, (ii) required that grants of performance units be based on the attainment of specified performance goals over a performance cycle and consequently deleted a requirement that performance units based solely on completion of service must have a minimum period of service of 36 months, and (iii) provided that the maximum number of shares that may be subject to awards granted to any participant under the Plan during a calendar year shall not exceed 600,000. The April Amendment (i) further reduces the 600,000 annual share limit and provides that the maximum amount of shares that may be subject to awards granted to any participant, during calendar years commencing in 2015, shall not exceed 500,000; and (ii) reduces the aggregate number of shares reserved for issuance under the Plan by 1,000,000 shares (when compared to the Plan as approved by a vote of the Company's stockholders in May 2012) from 17,300,000 to 16,300,000.

We have amended and restated the Plan in its entirety and such amended and restated Plan incorporates certain amendments to the Plan approved by a vote of the Company's stockholders in May 2012, as well as the February Amendment and April Amendment (collectively, the "Current Plan"). As further noted in our 2014 Proxy Statement dated April 8, 2014, we are seeking stockholder ratification and approval of the Current Plan.

This summary is qualified in its entirety by the full text of the Current Plan, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference. Interested parties are encouraged to read the text of the Current Plan.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.                                Description

10.1           Simon Property Group, L.P 1998 Stock Incentive Plan (Amended and
               Restated April 4, 2014)


  Add SPG to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for SPG - All Recent SEC Filings
Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.