Sun Communities (SUI) CEO granted stock and performance rights

Filing Impact

(Very High)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Young Charles D. reported acquisition or exercise transactions in this Form 4 filing.

Sun Communities Inc CEO and director Charles D. Young reported equity-based compensation grants rather than open-market trades. He received 28,151 performance rights, each tied to one share of common stock, with the actual earned amount ranging from 0% to 200% of this target based on total shareholder return and financial performance over a three-year period. Any portion not earned at the end of the performance period will be forfeited.

He was also granted 14,334 shares of restricted common stock at a reference price of $125.57 per share, vesting in three equal installments of 4,778 shares on March 27, 2027, 2028, and 2029. Following these grants, Young directly holds 77,477 shares of common stock, reflecting a larger long-term equity stake aligned with company performance.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Young Charles D.

Role CEO & Director

Type	Security	Shares	Price	Value
Grant/Award	PERFORMANCE RIGHT	28,151	$0.00	--
Grant/Award	COMMON STOCK, $0.01 PAR VALUE	14,334	$125.57	$1.80M

Holdings After Transaction: PERFORMANCE RIGHT — 28,151 shares (Direct); COMMON STOCK, $0.01 PAR VALUE — 77,477 shares (Direct)

Footnotes (1)

Restricted stock: all shares are subject to time vesting: 4,778 of these time vesting shares vest on each of March 27, 2027, 2028, and 2029. Each performance right represents a contingent right to receive one share of common stock of Sun Communities, Inc (the "Company"). The target number of shares of common stock is set forth in columns 5 and 7 of Table II. Between 0% and 200% of the target number will be earned based on the achievement of performance criteria related to the Company's total shareholder return relative to industry indices and to certain of the Company's financial results over a three-year performance period. Any shares that do not vest at the end of the performance period will be forfeited.

Key Figures

Performance rights target: 28,151 rights Restricted stock grant: 14,334 shares Restricted stock vesting tranche: 4,778 shares +3 more

6 metrics

Performance rights target 28,151 rights Contingent equity award tied to TSR and financial results

Restricted stock grant 14,334 shares Time-vesting restricted common stock awarded to CEO

Restricted stock vesting tranche 4,778 shares Vests on each of March 27, 2027, 2028, and 2029

Grant reference price $125.57 per share Price shown for restricted common stock grant

Common shares after grant 77,477 shares CEO’s direct common stock holdings following transaction

Performance rights price $0.00 per right Compensation grant with no exercise price

Key Terms

performance right, restricted stock, total shareholder return, three-year performance period, +1 more

5 terms

performance right financial

"Each performance right represents a contingent right to receive one share of common stock"

restricted stock financial

"Restricted stock: all shares are subject to time vesting"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

total shareholder return financial

"based on the achievement of performance criteria related to the Company's total shareholder return relative to industry indices"

Total shareholder return is the overall gain an investor gets from owning a stock, combining changes in the share price plus any cash payouts like dividends, and assuming those payouts are reinvested in more shares. Investors use it like a single score that shows the true return on their investment—similar to checking both the growth of a savings account and the interest earned—to compare how well different companies or investments perform over time.

three-year performance period financial

"financial results over a three-year performance period"

contingent right financial

"represents a contingent right to receive one share of common stock"

Form 4 Insider Transactions: What Each Field Means →

03/31/2026 - 02:23 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Young Charles D.

(Last)

(First)

(Middle)

27777 FRANKLIN RD. SUITE 300

(Street)

SOUTHFIELD

MICHIGAN

48034

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
SUN COMMUNITIES INC [ SUI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	CEO & Director

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/27/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
COMMON STOCK, $0.01 PAR VALUE	03/27/2026		A		14,334⁽¹⁾	A	$125.57	77,477	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
PERFORMANCE RIGHT	⁽²⁾	03/27/2026		A		28,151		⁽²⁾	⁽²⁾	COMMON STOCK, $0.01 PAR VALUE	28,151	$0	28,151	D

Explanation of Responses:

1. Restricted stock: all shares are subject to time vesting: 4,778 of these time vesting shares vest on each of March 27, 2027, 2028, and 2029.

2. Each performance right represents a contingent right to receive one share of common stock of Sun Communities, Inc (the "Company"). The target number of shares of common stock is set forth in columns 5 and 7 of Table II. Between 0% and 200% of the target number will be earned based on the achievement of performance criteria related to the Company's total shareholder return relative to industry indices and to certain of the Company's financial results over a three-year performance period. Any shares that do not vest at the end of the performance period will be forfeited.

Remarks:

	/s/ Charles D. Young	03/31/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What equity awards did Sun Communities (SUI) CEO Charles D. Young receive?

Charles D. Young received 28,151 performance rights and 14,334 restricted common shares as compensation. The performance rights can pay out between 0% and 200% of target, while the restricted shares vest in three equal annual installments starting March 27, 2027.

How do the performance rights granted to the Sun Communities (SUI) CEO work?

Each performance right represents a contingent right to receive one Sun Communities common share. Between 0% and 200% of the 28,151 target shares will be earned based on the company’s total shareholder return versus industry indices and specified financial results over a three-year period.

When do the restricted stock awards to the Sun Communities (SUI) CEO vest?

The 14,334 restricted shares vest purely on time. They vest in three equal tranches of 4,778 shares each on March 27, 2027, March 27, 2028, and March 27, 2029, encouraging the CEO to remain with the company over that period.

Did the Sun Communities (SUI) CEO buy or sell shares on the market in this Form 4?

No, the Form 4 shows compensation-related awards, not market trades. The transactions are coded as grants (code A), reflecting performance rights and restricted stock granted to the CEO, rather than open-market purchases or sales of Sun Communities shares.

How many Sun Communities (SUI) shares does the CEO hold after these grants?

After the reported transactions, CEO Charles D. Young directly holds 77,477 shares of Sun Communities common stock. This figure reflects his updated direct ownership position following the grant of 14,334 restricted shares reported in the non-derivative section of the filing.

What performance measures affect the Sun Communities (SUI) CEO’s performance rights payout?

The payout depends on Sun Communities’ total shareholder return relative to industry indices and certain financial results. Over a three-year performance period, these measures determine whether 0% to 200% of the 28,151 target performance rights ultimately convert into shares or are forfeited.