Swanstrom Daniel E II 4

What Happened

• Daniel E. Swanstrom II, Chief Financial Officer of Macerich Co. (MAC), was granted 41,411 LTIP units (derivative award) on February 16, 2026. The units were reported as acquired at $0 (award/grant, transaction code A).
• These LTIP units are long‑term incentive compensation and are not an open‑market purchase or sale. The filing lists no cash paid for the grant; the economic value depends on future conversion/redemption or share issuance.

Key Details

• Transaction date and price: 2026-02-16, 41,411 LTIP units @ $0.00 (award).
• Shares owned after transaction: Not disclosed in the provided filing.
• Footnote summary:
  • F1: LTIP units are limited partnership interests in The Macerich Partnership, L.P.; each LTIP unit can convert into a Common Unit, which may be redeemed for cash equal to the fair market value of a Macerich common share or, at the issuer’s election, exchanged for one share. Conversion/redemption rights do not expire.
  • F2: Vesting schedule — one‑third vests on Dec 31, 2026; one‑third on Dec 31, 2027; one‑third on Dec 31, 2028.
• Timeliness: Report filed Feb 18, 2026 for a Feb 16, 2026 grant — appears timely (no late filing flag).

Context

• This is a compensatory award (A) rather than a market purchase or sale, so it reflects company compensation practices rather than an immediate trading signal.
• The units are derivative awards with future vesting and conversion options; their ultimate value depends on Macerich’s stock price and the issuer’s election at redemption/conversion.