Equity (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of preferred units of the Operating Partnership and the amount of the noncontrolling redeemable interests in properties


		As of			As of
		March 31,			December 31,
		2026			2025
7.50% Cumulative Redeemable Preferred Units, 260,000 units authorized, 105,373 issued and outstanding		$	10,537		$	10,537
Other noncontrolling redeemable interests			253,714			222,769
Limited partners’ preferred interest in the Operating Partnership and noncontrolling redeemable interests in properties		$	264,251		$	233,306

Schedule of LTIP units earned and aggregate grant date fair values adjusted for estimated forfeitures


LTIP Awards		LTIP Units Earned		Grant Date Fair Value of TSR Award		Grant Date Target Value of Performance-Based Awards
2021 LTIP Awards		209,784		$5.7 million		$12.2 million
2022 LTIP Awards		107,462		—		$13.7 million
2023 LTIP Awards		380,344		—		$23.6 million
2024 LTIP Awards		To be determined in 2027		—		$24.5 million
2024 OPI LTIP Awards		406,976		—		$67.4 million
2025 LTIP Awards		To be determined in 2028		—		$30.0 million
2026 LTIP Awards		To be determined in 2029		—		$30.4 million

Simon Property Group, L.P.

Schedule of preferred units of the Operating Partnership and the amount of the noncontrolling redeemable interests in properties


		As of			As of
		March 31,			December 31,
		2026			2025
7.50% Cumulative Redeemable Preferred Units, 260,000 units authorized, 105,373 issued and outstanding		$	10,537		$	10,537
Other noncontrolling redeemable interests			253,714			222,769
Total preferred units, at liquidation value, and noncontrolling redeemable interests in properties		$	264,251		$	233,306

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

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