Healey Doug J 4
4 · MACERICH CO · Filed Feb 18, 2026
Research Summary
AI-generated summary of this filing
Macerich (MAC) Senior EVP Doug Healey Receives 92,996 LTIP Units
What Happened
- Doug J. Healey, Senior EVP and Head of Leasing at Macerich (MAC), was granted/awarded a total of 92,996 long-term incentive partnership units (LTIP Units) on February 16, 2026. The filing shows two derivative awards: 41,411 LTIP Units and 51,585 LTIP Units, reported at $0.00 (award; no cash paid).
- These LTIP Units are equity-based compensation issued by The Macerich Partnership, L.P. and are convertible into common units of the partnership (and ultimately can be redeemed for cash equal to the fair market value of a share of Macerich common stock, or converted into one share at the issuer’s election). No immediate cash transaction occurred.
Key Details
- Transaction date: February 16, 2026; Form 4 filed February 18, 2026 (filed within the typical two-business-day reporting window).
- Awards: 41,411 LTIP Units (time-based) and 51,585 LTIP Units (performance-based); total = 92,996 units. Reported price: $0.00 (award).
- Vesting/holding: The 51,585 performance units were determined earned (102.89% of target) for the 2023–2025 performance period, vested on Dec 31, 2025, and must be retained until Dec 31, 2026. The 41,411 time-based LTIP Units vest one‑third on Dec 31 of 2026, 2027 and 2028.
- Shares/units owned after transaction: Not disclosed in the provided filing.
- Transaction code: A = Award/Grant (derivative). No 10b5-1 plan, tax-withholding, or late-filing flags noted in the supplied items.
Context
- These LTIP Units are derivative awards (partnership units) rather than open-market purchases or sales. They can be converted into common units and typically redeemed for cash equal to the market value of a share or converted to common stock at the issuer’s election; conversion/redeem rights do not expire.
- Such awards are standard long-term incentive compensation and do not, by themselves, indicate insider buying or selling sentiment. The performance award portion reflects achievement of pre-set company goals (earned above target).
Insider Transaction Report
Form 4
MACERICH COMAC
Healey Doug J
Senior EVP, Head of Leasing
Transactions
- Award
LTIP Units
[F1][F2]2026-02-16+41,411→ 121,662 total→ Common Stock (41,411 underlying) - Award
LTIP Units
[F3][F4]2026-02-16+51,585→ 173,247 total→ Common Stock (51,585 underlying)
Footnotes (4)
- [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, 2026, one-third on December 31, 2027 and one-third on December 31, 2028.
- [F3]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.
- [F4]On January 1, 2023, the reporting person was granted an LTIP Unit award pursuant to which the reporting person could earn 50,136 LTIP Units at target performance, based on the Issuer's performance relative to certain performance criteria during the period from January 1, 2023 through December 31, 2025. On February 16, 2026, the Compensation Committee of the Board of Directors of the Issuer determined that 51,585 of the LTIP Units, or 102.89% of the target amount, were earned based on the Issuer's performance during the performance period. The LTIP Units vested on December 31, 2025 and must be retained by the reporting person until December 31, 2026.
Signature
Doug J. Healey|2026-02-18