Form 4: Sun Communities Director's Trust Sells Shares for Tax Plan

An irrevocable trust associated with Sun Communities Director Gary A. Shiffman sold 156,875 shares of common stock at $123.53 per share on December 17, 2025, for tax planning.

Summary

• Sun Communities Inc. (SUI) Director Gary A. Shiffman's irrevocable trust sold 156,875 shares of common stock.
• The transaction occurred on December 17, 2025, at a price of $123.53 per share.
• The sale was conducted in a private transaction by an irrevocable trust to certain beneficiaries of this trust, excluding the reporting person.
• The stated purpose of the transaction was for tax planning.
• Following the transaction, the reporting person directly owns 881,175 shares of common stock.
• Indirect beneficial ownership includes 6,278 shares owned by a spouse and 86,800 shares owned by another irrevocable trust.
• The reporting person disclaims beneficial ownership of the securities held by the trusts except to the extent of his pecuniary interest therein.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of an insider transaction for tax planning purposes, which typically carries a neutral sentiment. The sale is by a trust to other beneficiaries, not on the open market, and is explicitly for tax planning, mitigating any negative signal often associated with insider sales.

Future Outlook

The filing does not provide a future outlook for the company, focusing solely on a past insider transaction.

Industry Context

This filing reports a routine insider transaction for tax planning purposes and does not provide broader industry context or trends.

Related Party Transactions

• An irrevocable trust, of which Director Gary A. Shiffman is a trustee and beneficiary, sold shares to certain beneficiaries of this trust other than the Reporting Person.

Stakeholder Impact

• The sale of 156,875 shares by an irrevocable trust is unlikely to have a significant impact on the company's overall share price or liquidity due to its specific nature (private transaction for tax planning) and the relatively small percentage of total outstanding shares.

Key Dates

Keywords

Sun Communities, SUI, Gary A. Shiffman, Director, Insider Sale, Stock Transaction, Form 4, Beneficial Ownership, Tax Planning, 10b5-1 Plan