Insider Sells 1,434 Shares of Legendary REIT

Kevin M. Kelly, Assistant General Counsel of Simon Property Group (SPG), sold 1,434 shares worth approximately $307,679 on August 31, 2026, to cover tax withholding obligations from vesting restricted stock. Kelly retains 21,402 shares valued at $4.54 million. While SPG has outperformed the S&P 500 since 2021 with strong revenue and net income growth, the stock's P/E ratio of 39x is elevated compared to its five-year average of 23x, and operating margins have declined from 52% to 47%.