Did the Simon Property Group CEO Get a Raise?
Yes. David Simon's total compensation rose 5% to $13.0M in 2024, from $12.3M in 2023, per Simon Property Group's SEC DEF 14A filings.
This page answers a common executive-compensation question: Did the Simon Property Group CEO Get a Raise?. The answer draws on SEC DEF 14A proxy statements, the public disclosure mechanism for U.S. public-company executive pay. Every public company must file an annual proxy statement disclosing CEO and named-executive-officer compensation in detail. Why this matters for shareholders: executive compensation is the single most-disclosed governance metric at U.S. public companies, and the Dodd-Frank-mandated say-on-pay vote gives shareholders an explicit channel to express approval or dissent. Reading pay data well — including pay-versus-performance, peer-group selection, and time-vesting structures — is a basic part of stock-by-stock fundamental analysis.
The detailed answer below uses the actual proxy-statement filings, explains how to read them, and translates the executive-compensation accounting into the shareholder-relevant interpretation.
David Simon Pay: 2023 → 2024
- 2024 total comp
- $13,000,000
- 2023 total comp
- $12,350,000
- Change ($)
- +$650,000
- Change (%)
- +5%
Source: Simon Property Group SEC DEF 14A proxy statements, 2023 and 2024 Summary Compensation Tables.
In its latest proxy statement, Simon Property Group reported David Simon's 2024 total compensation at $13,000,000 — up $650,000 (5%) from $12,350,000 in 2023. The biggest single driver was stock awards, which rose $325,000.
Across the disclosed history, David Simon's total pay has run: 2022, $11.7M; 2023, $12.3M; 2024, $13.0M. CEO compensation is lumpy year to year because equity grants — the largest component — are often awarded in multi-year blocks rather than evenly, so a single year's jump or drop can reflect grant timing as much as a change in pay philosophy.
Whether a raise is warranted ties back to performance: Simon Property Group posted a 17.0% three-year total shareholder return on 6.0% revenue growth, and the package carries a CEOPay Pay-for-Performance grade of C (64/100).
Compensation Detail
| Component | Amount |
|---|---|
| Total Compensation | $13,000,000 |
| Base Salary | $1,300,000 |
| Stock Awards | $6,500,000 |
| Option Awards | $1,560,000 |
| Non-Equity Incentive | $1,950,000 |
| CEO-to-Worker Pay Ratio | 186:1 |
| Pay-Performance Grade | C |
Frequently Asked Questions
Yes. David Simon's total compensation rose 5% to $13.0M in 2024, from $12.3M in 2023, per Simon Property Group's SEC DEF 14A filings.
David Simon, CEO of Simon Property Group, earned $13.0M in total compensation in 2024, including $6.5M in stock awards and $1,300,000 in base salary.
In 2024, total compensation of $13,000,000 was composed of $1,300,000 base salary, $0 cash bonus, $6,500,000 stock awards, $1,560,000 option awards, and $1,950,000 in non-equity incentive compensation.
Our Pay-for-Performance Score rates Simon Property Group as C (64/100), based on three-year total shareholder return of 17.0%, revenue growth of 6.0%, and shareholder say-on-pay vote approval.
David Simon is the chief executive officer of Simon Property Group (SPG).
More about Simon Property Group
Yes. David Simon's total compensation rose 5% to $13.0M in 2024, from $12.3M in 2023, per Simon Property Group's SEC DEF 14A filings.
Source: SEC EDGAR DEF 14A proxy statements, 2026.