MACERICH CO 4
4 · MACERICH CO · Filed Jan 8, 2016
Insider Transaction Report
Form 4
MACERICH COMAC
Brant Randy L
EVP, Real Estate
Transactions
- Award
LTIP Units
2016-01-07+7,345→ 30,553 total→ Common Stock (7,345 underlying)
Footnotes (1)
- [F1]Represents the vesting of performance-based units of limited partnership interest in The Macerich Partnership, L.P. (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 (the "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 Common Units do not have expiration dates.