Jackson Hsieh - Mar 1, 2024 Form 4 Insider Report for MACERICH CO (MAC)

Signature
Michelle Raff for Jackson Hsieh
Stock symbol
MAC
Transactions as of
Mar 1, 2024
Transactions value $
$0
Form type
4
Date filed
3/5/2024, 07:11 PM
Previous filing
Jan 23, 2024
Next filing
May 6, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction MAC LTIP Units Award $0 +139K $0.00 139K Mar 1, 2024 Common Stock 139K Direct F1, F2
transaction MAC LTIP Units Award $0 +305K +219.78% $0.00 443K Mar 1, 2024 Common Stock 305K Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents 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.
F2 LTIP Units vest one-third on December 31, 2024, one-third on December 31, 2025 and one-third on December 31, 2026.
F3 Sign-On LTIPs vest over five years on the following schedule: 50% on 3/1/2027, 25% on 3/1/2028, and 25% on 3/1/2029