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Pay vs Performance Disclosure
12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
The following table illustrates disclosed compensation from the Summary Compensation Table and compensation “actually paid” to our PEO and Non-PEO NEOs, as well as (i) our cumulative TSR performance, (ii) the TSR of the Dow Jones U.S. Real Estate Residential Index, (iii) our Net Income, and (iv) our Core FFO, our Company selected metric, for the years ended December 31, 2023, 2022, 2021 and 2020:
Value of Initial Fixed $100
Investment(1) Based On:
YearSummary
Compensation
Table Total
for PEO
Compensation
Actually Paid
to PEO
Average Summary Compensation Table Total for
Non-PEO NEOs
Average
Compensation
Actually Paid
to Non-PEO
NEOs
Total
Shareholder
Return
Dow Jones U.S. Real Estate Residential Index
Net
Income / (loss)(2)
Core FFO/ Share
2023$10,946,746 $(21,335)$2,844,291 $2,225,608 $97.75 $104.78 $(213,300,000)$7.10 
2022$14,966,582 $(537,705)$3,633,375 $650,211 $101.62 $97.44 $242,000,000 $7.35 
2021$13,828,288 $31,577,299 $4,197,956 $7,604,150 $145.84 $142.12 $380,200,000 $6.51 
2020$11,142,423 $9,511,035 $5,226,779 $5,220,325 $103.58 $89.74 $131,600,000 $5.09 
     
Named Executive Officers, Footnote
Our PEO and Non-PEO NEOs included in the table above are as follows:
YearPEO Non-PEO NEOs
2023Gary A. ShiffmanFernando Castro-Caratini, Bruce D. Thelen, Marc Farrugia, Aaron Weiss
2022Gary A. ShiffmanFernando Castro-Caratini, Karen J. Dearing, John B. McLaren, Bruce D. Thelen, Aaron Weiss
2021Gary A. ShiffmanKaren J. Dearing, John B. McLaren, Bruce D. Thelen, Aaron Weiss
2020Gary A. ShiffmanKaren J. Dearing, John B. McLaren, Bruce D. Thelen, Baxter R. Underwood
     
PEO Total Compensation Amount $ 10,946,746 $ 14,966,582 $ 13,828,288 $ 11,142,423
PEO Actually Paid Compensation Amount $ (21,335) (537,705) 31,577,299 9,511,035
Adjustment To PEO Compensation, Footnote
Differences in our summary compensation table amounts and compensation actually paid reflect the following:
Year2023202220212020
PEONon-PEO NEOs PEONon-PEO NEOsPEONon-PEO NEOsPEONon-PEO NEOs
Deduction for amounts reported under the “Stock Awards” in the summary compensation table $(9,283,660)$(1,918,623)$(12,395,450)$(2,284,748)$(11,171,661)$(2,877,390)$(9,208,679)$(4,361,230)
Increase based on ASC 718 fair value of awards granted during the year that remain unvested as of year end, determined as of year end7,561,009 1,562,608 9,536,728 1,757,757 17,581,362 4,169,907 8,972,498 4,533,145 
Increase based on ASC 718 fair value of awards granted during the year that vested during the year, determined as of vesting date— — — — — — — — 
Increase / (deduction) for awards granted during prior year that were outstanding and unvested as of year end, determined based on change in ASC 718 fair value from prior year end to current year end(8,671,507)(356,644)(10,955,590)(2,231,046)11,147,435 1,988,939 86,515 43,861 
Increase / (deduction) for awards granted during prior year that vested during the year, determined based on change in ASC 718 fair value from prior year end to vesting date (773,054)(8,584)(2,602,551)(389,594)(414,809)(22,465)(2,576,195)(404,974)
Deduction of ASC 718 fair value of awards granted during prior year that were forfeited during current year, determined as of prior year end(725,010)— — — (356,171)(29,706)— — 
Addition of any dividends or other earnings paid on equity awards during the year, prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the year924,141 102,560 912,577 164,467 962,854 176,909 1,094,473 182,743 
Total Adjustments$(10,968,081)$(618,683)$(15,504,286)$(2,983,164)$17,749,010 $3,406,194 $(1,631,388)$(6,455)
     
Non-PEO NEO Average Total Compensation Amount $ 2,844,291 3,633,375 4,197,956 5,226,779
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,225,608 650,211 7,604,150 5,220,325
Adjustment to Non-PEO NEO Compensation Footnote
Differences in our summary compensation table amounts and compensation actually paid reflect the following:
Year2023202220212020
PEONon-PEO NEOs PEONon-PEO NEOsPEONon-PEO NEOsPEONon-PEO NEOs
Deduction for amounts reported under the “Stock Awards” in the summary compensation table $(9,283,660)$(1,918,623)$(12,395,450)$(2,284,748)$(11,171,661)$(2,877,390)$(9,208,679)$(4,361,230)
Increase based on ASC 718 fair value of awards granted during the year that remain unvested as of year end, determined as of year end7,561,009 1,562,608 9,536,728 1,757,757 17,581,362 4,169,907 8,972,498 4,533,145 
Increase based on ASC 718 fair value of awards granted during the year that vested during the year, determined as of vesting date— — — — — — — — 
Increase / (deduction) for awards granted during prior year that were outstanding and unvested as of year end, determined based on change in ASC 718 fair value from prior year end to current year end(8,671,507)(356,644)(10,955,590)(2,231,046)11,147,435 1,988,939 86,515 43,861 
Increase / (deduction) for awards granted during prior year that vested during the year, determined based on change in ASC 718 fair value from prior year end to vesting date (773,054)(8,584)(2,602,551)(389,594)(414,809)(22,465)(2,576,195)(404,974)
Deduction of ASC 718 fair value of awards granted during prior year that were forfeited during current year, determined as of prior year end(725,010)— — — (356,171)(29,706)— — 
Addition of any dividends or other earnings paid on equity awards during the year, prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the year924,141 102,560 912,577 164,467 962,854 176,909 1,094,473 182,743 
Total Adjustments$(10,968,081)$(618,683)$(15,504,286)$(2,983,164)$17,749,010 $3,406,194 $(1,631,388)$(6,455)
     
Compensation Actually Paid vs. Total Shareholder Return 2660      
Compensation Actually Paid vs. Net Income 2663      
Compensation Actually Paid vs. Company Selected Measure 2661      
Total Shareholder Return Vs Peer Group 2664      
Tabular List, Table
Performance Measures
 Year Ended
December 31, 2023
Methodology
Used to Calculate
Financial Performance Measures
Reconciliations to
Non-GAAP Financial Measures
Financial
Core FFO growth(3.4)%FFO is a standard operating performance measure for REITs and is defined by Nareit as GAAP net income (loss), excluding gains (or losses) from sales of certain real estate assets, plus real estate related depreciation and amortization, impairments of certain real estate assets and investments, and after adjustments for nonconsolidated partnerships and joint ventures. Core FFO is a primary operating measure in our publicly-reported earnings results, and is defined as FFO excluding certain gain and loss items that management considers unrelated to the operational and financial performance of our core business. Refer to Appendix for the reconciliation of Net Income to Core FFO
Same Property combined NOI growth - MH, RV and Marina7.3%NOI is calculated by deducting direct property operating expenses from property operating revenues, thereby providing a measure of the actual operating performance of our properties. Same Properties are primarily those properties that we have owned and operated continuously since January 1, 2022Refer to (1) Appendix for the reconciliation of Net Income to NOI and (2) table below for the breakdown of NOI
Non-Financial
Developments and Expansions802
sites delivered
Construction of ground-up developments and expansions of our existing communities provide for continued revenue growth through occupancy gains.N/A
ESG initiativesExcelled
Performance is based on implementation and progress towards long-term commitments, including our DEI Roadmap, Carbon Neutral by 2035 and Net Zero Emissions by 2045, as well as integration of all business operations.
N/A
     
Total Shareholder Return Amount $ 97.75 101.62 145.84 103.58
Peer Group Total Shareholder Return Amount 104.78 97.44 142.12 89.74
Net Income (Loss) $ (213,300,000) $ 242,000,000 $ 380,200,000 $ 131,600,000
Company Selected Measure Amount 7.10 7.35 6.51 5.09
PEO Name Gary A. Shiffman      
Additional 402(v) Disclosure This calculation assumes a $100.00 investment on December 31, 2019, a reinvestment of distributions and actual increase of the market value of our common stock relative to an initial investment of $100.00.Net Income / (loss) attributable to Sun Communities, Inc. common shareholders.      
Measure:: 1        
Pay vs Performance Disclosure        
Name Core FFO growth      
Measure:: 2        
Pay vs Performance Disclosure        
Name Same Property combined NOI growth - MH, RV and Marina      
Measure:: 3        
Pay vs Performance Disclosure        
Name Developments and Expansions      
Measure:: 4        
Pay vs Performance Disclosure        
Name ESG initiatives      
PEO        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (10,968,081) $ (15,504,286) $ 17,749,010 $ (1,631,388)
PEO | Adjustment, Equity Awards Reported Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (9,283,660) (12,395,450) (11,171,661) (9,208,679)
PEO | Adjustment, Equity Awards Granted During The Year, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 7,561,009 9,536,728 17,581,362 8,972,498
PEO | Adjustment, Equity Awards Granted During The Year, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
PEO | Adjustment, Equity Awards Granted In Prior Years, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (8,671,507) (10,955,590) 11,147,435 86,515
PEO | Adjustment, Equity Awards Granted In Prior Years, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (773,054) (2,602,551) (414,809) (2,576,195)
PEO | Adjustment, Equity Awards Granted In Prior Years, Forfeited During the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (725,010) 0 (356,171) 0
PEO | Adjustment, Equity Awards, Value Of Dividends And Other Earnings Paid Adjustment [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 924,141 912,577 962,854 1,094,473
Non-PEO NEO        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (618,683) (2,983,164) 3,406,194 (6,455)
Non-PEO NEO | Adjustment, Equity Awards Reported Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (1,918,623) (2,284,748) (2,877,390) (4,361,230)
Non-PEO NEO | Adjustment, Equity Awards Granted During The Year, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,562,608 1,757,757 4,169,907 4,533,145
Non-PEO NEO | Adjustment, Equity Awards Granted During The Year, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
Non-PEO NEO | Adjustment, Equity Awards Granted In Prior Years, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (356,644) (2,231,046) 1,988,939 43,861
Non-PEO NEO | Adjustment, Equity Awards Granted In Prior Years, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (8,584) (389,594) (22,465) (404,974)
Non-PEO NEO | Adjustment, Equity Awards Granted In Prior Years, Forfeited During the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 (29,706) 0
Non-PEO NEO | Adjustment, Equity Awards, Value Of Dividends And Other Earnings Paid Adjustment [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 102,560 $ 164,467 $ 176,909 $ 182,743