SEC Form 4 · accession 0001209191-19-001589
MACERICH CO · MAC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas E O'Hern
Officer — Chief Executive Officer · Director
Period of report
Jan 1, 2019
Accepted (ET)
Jan 3, 2019 · 8:46 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000912242
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LTIP UnitsF1,F2 | — | Jan 1, 2019 | A | 23,105 | A | — | — | Common Stock | 23,105 | 140,586 | D |
Explanation of responses
- F1Represents units of limited partnership interest in The Macerich Partnership, L.P. (the "Partnership"), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and time vesting, each LTIP Unit may be converted into a common unit of limited partnership interest in the Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of a LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of common stock. The rights to convert LTIP Units to Common Units and redeem Common Units do not have expiration dates.
- F2LTIP Units vest one-third on December 31, 2019, one-third on December 31, 2020 and one-third on December 31, 2021.