SPG — Insider Trading Activity

Cluster buy signal. Multiple insiders independently writing personal checks for the same company’s stock is one of the stronger patterns in the Form 4 data — it usually reflects a shared view among people who see the numbers first that the shares are cheap. Historically, 3+ insider clusters have outperformed the broader market over the following 6–12 months. Who is buying. The most credible buyer in this window is a Director (< $100K). That insider’s track record: past buys beat the S&P 500 6 of 9 times (avg +2% vs S&P over 6 mo). Overall credibility score: 40/100 (Medium).

By the numbers. 11 insiders filed 11 open-market purchases at SPG over the window, 2,272 shares in all at an average of $202.78 a share, most recently on September 30, 2026. No insider sold SPG stock on the open market in that period. Buying over the window ran 3.3× the dollar value of SPG’s trailing 11-month baseline.

How we read these filings — which transaction codes count, how the cluster and credibility thresholds are set, and what the signals have and haven’t predicted — is written up in the insider trading methodology.