Healey Doug J 4

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).