SUN COMMUNITIES INC. Files Definitive Proxy Statement (DEF 14A)

Ticker: SUI · Form: DEF 14A · Filed: Apr 1, 2024 · CIK: 912593

Sentiment: neutral

Topics: DEF 14A, SUN COMMUNITIES INC., Proxy Statement, Executive Compensation, Real Estate Investment Trusts

TL;DR

<b>SUN COMMUNITIES INC. filed its Definitive Proxy Statement (DEF 14A) on April 1, 2024, detailing its 2023 fiscal year-end information.</b>

AI Summary

SUN COMMUNITIES INC (SUI) filed a Proxy Statement (DEF 14A) with the SEC on April 1, 2024. Filing type is DEF 14A, filed on April 1, 2024, for the period ending December 31, 2023. Company name is SUN COMMUNITIES INC. with Central Index Key 0000912593. Standard Industrial Classification is Real Estate Investment Trusts [6798]. Business and mailing address is 27777 FRANKLIN ROAD, SUITE 300, SOUTHFIELD, MI 48034. Phone number is 248-208-2500.

Why It Matters

For investors and stakeholders tracking SUN COMMUNITIES INC, this filing contains several important signals. This filing is a standard DEF 14A, indicating it contains information for annual meetings, executive compensation, and other corporate governance matters. The filing provides specific details on equity awards for PEO and Non-PEO members across multiple fiscal years (2020-2023), which is crucial for understanding executive compensation structures and potential dilution.

Risk Assessment

Risk Level: low — SUN COMMUNITIES INC shows low risk based on this filing. The filing is a routine DEF 14A, providing standard disclosures without immediate financial or operational red flags.

Analyst Insight

Review the executive compensation details and equity award grants within the DEF 14A to understand potential impacts on shareholder value and dilution.

Key Numbers

Key Players & Entities

FAQ

When did SUN COMMUNITIES INC file this DEF 14A?

SUN COMMUNITIES INC filed this Proxy Statement (DEF 14A) with the SEC on April 1, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by SUN COMMUNITIES INC (SUI).

Where can I read the original DEF 14A filing from SUN COMMUNITIES INC?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by SUN COMMUNITIES INC.

What are the key takeaways from SUN COMMUNITIES INC's DEF 14A?

SUN COMMUNITIES INC filed this DEF 14A on April 1, 2024. Key takeaways: Filing type is DEF 14A, filed on April 1, 2024, for the period ending December 31, 2023.. Company name is SUN COMMUNITIES INC. with Central Index Key 0000912593.. Standard Industrial Classification is Real Estate Investment Trusts [6798]..

Is SUN COMMUNITIES INC a risky investment based on this filing?

Based on this DEF 14A, SUN COMMUNITIES INC presents a relatively low-risk profile. The filing is a routine DEF 14A, providing standard disclosures without immediate financial or operational red flags.

What should investors do after reading SUN COMMUNITIES INC's DEF 14A?

Review the executive compensation details and equity award grants within the DEF 14A to understand potential impacts on shareholder value and dilution. The overall sentiment from this filing is neutral.

How does SUN COMMUNITIES INC compare to its industry peers?

SUN COMMUNITIES INC. operates as a Real Estate Investment Trust (REIT) within the real estate and construction sector.

Are there regulatory concerns for SUN COMMUNITIES INC?

The filing is a DEF 14A, which is a standard SEC filing for companies holding annual shareholder meetings and disclosing executive compensation and other corporate governance information.

Industry Context

SUN COMMUNITIES INC. operates as a Real Estate Investment Trust (REIT) within the real estate and construction sector.

Regulatory Implications

The filing is a DEF 14A, which is a standard SEC filing for companies holding annual shareholder meetings and disclosing executive compensation and other corporate governance information.

What Investors Should Do

  1. Analyze the detailed breakdown of equity awards granted to PEO and Non-PEO members for fiscal years 2020-2023.
  2. Review any disclosed proposals or voting matters presented in the proxy statement.
  3. Examine the company's corporate governance practices and executive compensation policies as detailed in the filing.

Key Dates

Year-Over-Year Comparison

This is a DEF 14A filing, which typically occurs annually. Specific comparative data from a previous filing is not directly available in this header information.

Filing Stats: 4,515 words · 18 min read · ~15 pages · Grade level 13.4 · Accepted 2024-04-01 16:35:26

Key Financial Figures

Filing Documents

EXECUTIVE COMPENSATION TABLES

EXECUTIVE COMPENSATION TABLES 89 Summary Compensation Table 89 Grants of Plan-Based Awards 90 Outstanding Equity Awards at Year-End December 31, 2023 91 Stock Vested During 2023 92 CEO Pay Ratio 92 Pay Versus Performance Table 94 COMPENSATION COMMITTEE REPORT 98 INFORMATION ABOUT EXECUTIVE OFFICERS 98 PROPOSAL NO. 3 – RATIFICATION OF SELECTION OF GRANT THORNTON LLP 104 AUDIT COMMITTEE REPORT 106

SECURITY OWNERSHIP INFORMATION

SECURITY OWNERSHIP INFORMATION 107

Security Ownership of Certain Beneficial Owners

Security Ownership of Certain Beneficial Owners 107

Security Ownership of Directors and Executive Officer s

Security Ownership of Directors and Executive Officer s 108 GENERAL INFORMATION 110 APPENDIX – NON-GAAP FINANCIAL MEASURES 115 4 Sun Communities, Inc. Board Sun Communities, Inc. Board of Directors CEO Chief Executive Officer CFO Chief Financial Officer CNOI Controllable Net Operating Income CA Committee Capital Allocation Committee of the Board COO Chief Operating Officer Core FFO (1) Core Funds From Operations Attributable To Sun Communities, Inc. Common Shareholders and Dilutive Convertible Securities Core FFO (1) per Share Core Funds From Operations Attributable To Sun Communities, Inc. Common Shareholders and Dilutive Convertible Securities Per Share Fully Diluted DEI Diversity, Equity and Inclusion EBITDA (1) Earnings Before Interest, Taxes, Depreciation and Amortization EDT Eastern Daylight Time ERM Enterprise Risk Management ESG Environmental, Social and Governance Exchange Act Securities Exchange Act of 1934, as amended FASB Financial Accounting Standards Board FFO (1) Funds From Operations Attributable To Sun Communities, Inc. Common Shareholders and Dilutive Convertible Securities GAAP United States Generally Accepted Accounting Principles G&A expense General and administrative expense GHG Greenhouse gases IDEA Inclusion, Diversity, Equity and Accessibility MH Manufactured Housing Nareit National Association of Real Estate Investment Trusts NCG Committee Nominating and Corporate Governance Committee of the Board NEO Named Executive Officers identified in this Proxy Statement: Gary A. Shiffman, Fernando Castro-Caratini, Bruce D. Thelen, Marc Farrugia and Aaron Weiss NOI (1) Net Operating Income NYSE New York Stock Exchange OP Unit Unit representing an ownership interest in the Operating Partnership Operating Partnership Sun Communities Operating Limited Partnership PEO Principal Executive Officer identified in this Proxy Statement: Gary A. Shiffman Recurring EBITDA (1) Recurring Earnings Before Interest,

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