secwatch.observer — SEC 8-K summary
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Issuer:     SUN COMMUNITIES INC (SUI)
CIK:        0000912593
Form:       8-K
Filed at:   2026-10-02T15:19:17+00:00
Accession:  0000912593-26-000262
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.30
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

SUI creates Series M Preferred; issues 283,126 units at $100 for Oregon asset contribution
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- SCOLP issued 283,126 Series M Preferred Units at $100/unit, or $28.3M, to Saint Lucia/Rowan Oak MHC, LLC as consideration for assets including Eugene, Oregon real property.
- Series M distributions: 3.2%/year until Oct 1, 2027, 3.4% until Oct 1, 2028, then 3.6%; cumulative quarterly payments on Mar 31, Jun 30, Sep 30, Dec 31.
- Each Series M unit exchangeable into SUI common at $100.00/$174.00 = 0.5747 shares; holders may redeem for $100/unit plus accrued distributions on or after Oct 1, 2027.
- Series M ranks senior to Common OP Units and Series A-3 Preferred Units, junior to all other SCOLP preferred series except A-3.
- Distributions on Series M units are cumulative from the Oct 1, 2026 issuance date, payable quarterly in arrears; no stated maturity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/912593/000091259326000262/0000912593-26-000262-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/912593/000091259326000262/sui-20261001.htm
  HTML page:      https://secwatch.observer/filing/0000912593-26-000262

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer