# EDGAR Filing Document

**Accession Number:** 0000912593
**File Stem:** 0000912593-26-000143
**Filing Date:** 2026-3
**Character Count:** 14334
**Document Hash:** 04acfeaec5466a9878b8c69ab12bdaf7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000912593-26-000143.hdr.sgml**: 20260331

**ACCESSION NUMBER**: 0000912593-26-000143

**CONFORMED SUBMISSION TYPE**: ARS

**PUBLIC DOCUMENT COUNT**: 121

**CONFORMED PERIOD OF REPORT**: 20260224

**FILED AS OF DATE**: 20260331

**DATE AS OF CHANGE**: 20260330

**EFFECTIVENESS DATE**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SUN COMMUNITIES INC
- **CENTRAL INDEX KEY:** 0000912593
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 382730780
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0513

**FILING VALUES:**
- **FORM TYPE:** ARS
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-12616
- **FILM NUMBER:** 26814588

**BUSINESS ADDRESS:**
- **STREET 1:** 27777 FRANKLIN ROAD
- **STREET 2:** SUITE 300
- **CITY:** SOUTHFIELD
- **STATE:** MI
- **ZIP:** 48034
- **BUSINESS PHONE:** 2482082500

**MAIL ADDRESS:**
- **STREET 1:** 27777 FRANKLIN ROAD
- **STREET 2:** SUITE 300
- **CITY:** SOUTHFIELD
- **STATE:** MI
- **ZIP:** 48034

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2025 Annual Report And Form 10-K Lakeside Crossing - South Carolina Birchington Vale - Birchington UKForest Meadows - Oregon Panama City Beach - Florida 27777 Franklin Road, Suite 300 • Southfield, Michigan 48034 www.suninc.com • NYSE: SUI Sun Communities, Inc. Headquarters United Kingdom DOMESTIC & INTERNATIONAL PRESENCE ALABAMA ARIZONA CALIFORNIA COLORADO CONNECTICUT DELAWARE FLORIDA GEORGIA ILLINOIS INDIANA KENTUCKY LOUISIANA MAINE MARYLAND MASSACHUSETTS MICHIGAN MISSISSIPPI MONTANA NEVADA NEW HAMPSHIRE NEW JERSEY NEW YORK NORTH CAROLINA OHIO OREGON PENNSYLVANIA SOUTH CAROLINA TENNESSEE TEXAS UTAH VIRGINIA WASHINGTON WISCONSIN ONTARIO, CANADA UNITED KINGDOM

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LETTER TO OUR SHAREHOLDERS Dear Fellow Shareholders, We enter 2026 positioned to build on Sun's strong operational and cultural legacy and create value for our shareholders. In 2025, we successfully executed on our strategic objectives, simplifying our business and strengthening our balance sheet. With the closing of the Safe Harbor Marinas sale and other non-strategic assets, we sharpened our focus on our core manufactured housing (MH) and recreation vehicle (RV) segments. Importantly, we deployed the proceeds deliberately through a thoughtful capital allocation process, meaningfully enhancing our balance sheet position and financial flexibility. 2025 RESULTS Our disciplined execution of our strategic priorities was reflected in our strong 2025 results. In addition to optimizing our portfolio, we significantly enhanced our capital deployment strategy by using the proceeds from the Safe Harbor sale to reposition our balance sheet. We paid down more than $3 billion of debt and fully eliminated our floating-rate debt exposure. We also returned capital to shareholders through share repurchases, a special cash distribution, and a meaningful increase to our quarterly dividend. On the strategic investment front, we acquired fourteen MH and annual RV communities within existing Sun geographies. In the UK, we acquired the ground leases for 32 properties, resulting in Sun owning the full freehold interest across our UK portfolio, reducing lease complexity while creating meaningful financial and strategic flexibility. BOARD AND MANAGEMENT As we advanced our strategic and financial priorities, we also strengthened our leadership team and further enhanced our Board of Directors. In October 2025, Charles Young joined Sun as both our Chief Executive Officer and director. At the Board level, Mark Denien was elected to the Board in 2025 as an independent director and, after decades of distinguished and dedicated service to the Company and our shareholders, Clunet Lewis will retire from the Board this year. LOOKING AHEAD We remain committed to creating long-term value for our shareholders. Building on the successes of 2025, we expect to continue to take purposeful, measured actions to support and further strengthen our core business and seek to deliver reliable earnings growth. With a clear strategic direction, we remain focused on realizing the full potential of our portfolio and platform. Thank you for your continued support. Sincerely, GARY A. SHIFFMAN Chairman CHARLES YOUNG Chief Executive Officer MEGHAN G. BAIVIER Lead Independent Director OFFICERS AND DIRECTORS ANNUAL MEETING SEC FORM 10-K www.suninc.com TRANSFER AGENT & DIVIDEND DISBURSING AGENT INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS CORPORATE COUNSEL CORPORATE HEADQUARTERS STOCK TRADING INFORMATION CERTAIN FILINGS PERFORMANCE GRAPH

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Charles D. Young Chief Executive Officer and Director John B. McLaren President and Chief Operating Officer Fernando Castro-Caratini Executive Vice President, Chief Financial Officer, Treasurer and Secretary Marc Farrugia Executive Vice President and Chief Administrative Officer Aaron Weiss Executive Vice President and Chief Investment Officer Tonya Allen Director; President of the McKnight Foundation Meghan G. Baivier Director; Chief Financial Officer of Aligned Data Centers, LLC Jeff T. Blau Director; Chief Executive Officer and Partner of Related Companies, L.P. Mark A. Denien Director, Retired Chief Financial Officer Jerome W. Ehlinger Director; Retired Real Estate Business Manager, Portfolio Manager and Chief Investment Officer Brian M. Hermelin Director; Co-Founder and Managing Partner of Rockbridge Growth Equity Management LP, Co-Founder and General Partner of Detroit Venture Partners, LLC Craig A. Leupold Director; Chief Executive Officer of GSI Capital Advisors Clunet R. Lewis Director; Retired Attorney and Businessman Gary A. Shiffman Chairman of the Board OFFICERS AND DIRECTORS ANNUAL MEETING The Annual Meeting of shareholders will be conducted in a virtual format only by visiting www.virtualshareholdermeeting.com/SUI2026 on May 12, 2026 at 11:00 a.m. Eastern Daylight Time. SEC FORM 10-K A copy of the Annual Report on Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 2025 is available at no charge to shareholders who direct a written request to: Investor Relations Department Sun Communities, Inc. 27777 Franklin Road, Suite 300 Southfield, Michigan 48034 Telephone: (248) 208-2500 Website: www.suninc.com TRANSFER AGENT & DIVIDEND DISBURSING AGENT Computershare Trust Company, N.A. P.O. Box 43010 Providence, Rhode Island 02940-3010 Shareholder Inquiries: (800) 426-5523 INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS Deloitte & Touche, LLP 1001 Woodward, Suite 700 Detroit, MI 48226 CORPORATE COUNSEL Taft Stettinius & Hollister LLP 27777 Franklin Road, Suite 2500 Southfield, Michigan 48034 CORPORATE HEADQUARTERS Sun Communities, Inc. 27777 Franklin Road, Suite 300 Southfield, Michigan 48034 Telephone: (248) 208-2500 STOCK TRADING INFORMATION New York Stock Exchange Ticker Symbol – SUI (Common Stock) SHAREHOLDER INFORMATION Source: S&P Global Market Intelligence© 2026 In de x Va lu e CERTAIN FILINGS The Annual CEO Certification was submitted to the NYSE pursuant to NYSE rules and guidelines without qualification on May 14, 2025. Sun Communities, Inc. has filed, as exhibits to its Annual Report on Form 10-K for the year ended December 31, 2025, the required certifications regarding the quality of its public disclosure under the applicable provisions of the Sarbanes-Oxley Act of 2002. PERFORMANCE GRAPH Set forth below is a line graph comparing the yearly percentage change in the cumulative total shareholder return on our common stock against the cumulative total return of a broad market index composed of all issuers listed on the NYSE and an industry index comprised of 20 publicly traded REITs, for the five year period ending on December 31, 2025. This line graph assumes a $100.00 investment on December 31, 2020, a reinvestment of distributions and actual increase of the market value of our common stock relative to an initial investment of $100.00. The comparisons in this table are required by the SEC and are not intended to forecast or be indicative of possible future performance of our common stock. We utilize peer group data for quantitative benchmarking against external market participants. We select our peer group based on a number of quantitative and qualitative factors including, but not limited to, revenues, total assets, market capitalization, industry, sub-industry, location, total shareholder return history, executive compensation components and peer decisions made by other companies. (1) SUI Peer Group includes: AvalonBay Communities, Inc., Camden Property Trust, CubeSmart, Equity Lifestyle Properties, Inc., Equity Residential, Essex Property Trust, Inc., Extra Space Storage Inc., Federal Realty Investment Trust, Invitation Homes Inc., Mid-America Apartment Communities, Inc., UDR, Inc. and Ventas, Inc. Sun Communities, Inc. - Total Return Performance

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2025 Annual Report And Form 10-K Lakeside Crossing - South Carolina Birchington Vale - Birchington UKForest Meadows - Oregon Panama City Beach - Florida 27777 Franklin Road, Suite 300 • Southfield, Michigan 48034 www.suninc.com • NYSE: SUI Sun Communities, Inc. Headquarters United Kingdom DOMESTIC & INTERNATIONAL PRESENCE ALABAMA ARIZONA CALIFORNIA COLORADO CONNECTICUT DELAWARE FLORIDA GEORGIA ILLINOIS INDIANA KENTUCKY LOUISIANA MAINE MARYLAND MASSACHUSETTS MICHIGAN MISSISSIPPI MONTANA NEVADA NEW HAMPSHIRE NEW JERSEY NEW YORK NORTH CAROLINA OHIO OREGON PENNSYLVANIA SOUTH CAROLINA TENNESSEE TEXAS UTAH VIRGINIA WASHINGTON WISCONSIN ONTARIO, CANADA UNITED KINGDOM

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