The Operating Partnership Market Information There is no established trading market for units or preferred units. Holders The number of holders of record of units was 230 as of January 31, 2024. Distributions
The Operating Partnership makes distributions on its units in amounts sufficient to maintain Simon's qualification as a REIT. Simon is required each year to distribute to its stockholders at least 90% of its REIT taxable income after certain adjustments. Future distributions will be determined by Simon’s Board of Directors, in its sole discretion, based on actual and projected financial condition, liquidity and results of operations, cash available for distributions, cash reserves as deemed necessary for capital and operating expenditures, financing covenants, if any, and the distributions that may be required to maintain Simon's status as a REIT. Distributions during 2023 aggregated $7.45 per unit. Distributions during 2022 aggregated $6.90 per unit. On February 5, 2024, Simon’s Board of Directors declared a quarterly cash dividend for the first quarter of 2024 of $1.95 per share, payable on March 29, 2024 to shareholders of record on March 8, 2024. The distribution rate on the Operating Partnership’s units is equal to the dividend rate on Simon’s common stock. Unregistered Sales of Equity Securities There were no unregistered sales of equity securities made by the Operating Partnership during the quarter ended December 31, 2023. Issuer Purchases of Equity Securities During the quarter ended December 31, 2023, the Operating Partnership redeemed 18,919 units from four limited partners for $2.6 million in cash. Item 6. Reserved
58
Powered by FlippingBook