03/17/2025 | Press release | Distributed by Public on 03/17/2025 17:25
FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) |
4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
LTIP Units | (1) | 03/14/2025 | A | 29,704 | (1)(2) | (1) | Common Stock | 29,704 | $ 0 | 158,989 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Menard Ann C 401 WILSHIRE BLVD. SUITE 700 SANTA MONICA, CA 90401 |
Chief Legal Officer/Secretary |
Michelle Raff for Ann C. Menard | 03/17/2025 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Represents the vesting of performance-based units of limited partnership interest in The Macerich Partnership, LP (the "Partnership"), of which the Issuer is the general partner. These LTIP Units were issued as long-term incentive compensation and vested upon achievement of certain pre-established performance criteria. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each LTIP Unit may be converted, at the election of the holder, into a common unit of limited partnership interest in the Partnership ("Common Unit"). Each Common Unit may generally be redeemed, 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 for one share of common stock. The rights to convert LTIP Units into Common Units and redeem for common stock do not have expiration dates. |
(2) | On January 1, 2022, the reporting person was granted an LTIP Unit award pursuant to which the reporting person could earn 34,876 LTIP Units at target performance, based on the Issuer's performance relative to certain performance criteria during the period from January 1, 2022 through December 31, 2024. The Compensation Committee of the Board of Directors of the Issuer determined that 29,704 of the LTIP Units, or 85.17% of the target amount, were earned based on the Issuer's performance during the performance period. The LTIP Units vested on December 31, 2024 and must be retained by the reporting person until December 31, 2025. |