Simon Property Group adopts OPI Incentive Program with initial NEO allocations up to 40% for CEO

SIMON PROPERTY GROUP INC.

Program links executive compensation to monetization of non-core investments; pool equals 9.9% of net proceeds above 8% hurdle.
CEO David Simon receives 40% allocation in ABG, ABG-SPG ES, SPARC; 30% in JCP and RGG; 20% in Jamestown.
CFO McDade gets 7% in ABG, ABG-SPG ES, SPARC, JCP and 15% in Jamestown; other NEOs range from 2% to 7%.
Program revised after advisory vote failed to receive majority support; includes pre-determined allocations, equity vesting, and 8% preferred return hurdle.

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