COPPOLA ARTHUR M 4
4 · MACERICH CO · Filed Mar 6, 2018
Insider Transaction Report
Form 4
MACERICH COMAC
COPPOLA ARTHUR M
DirectorChairman & CEO
Transactions
- Award
LTIP Units
2018-03-02+29,911→ 162,792 total→ Common Stock (29,911 underlying)
Footnotes (3)
- [F1]Represents the reporting person's annual incentive award for his 2017 performance which was granted on the date designated by the Compensation Committee for all annual employee and director bonuses and awards consistent with past practice.
- [F2]Represents units of limited partnership interest in The Macerich Partnership, L.P. (the "Partnership"), of which the Issuer is the general partner, issued as 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, 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 into Common Units and redeem Common Units do not have expiration dates.
- [F3]In addition, the reporting person holds the following limited partnership units in the Partnership, which are generally redeemable upon certain circumstances for an equal number of shares of the Issuer's common stock: 737,603 common units held directly by the reporting person and 1,764,055 common units held through family limited liabilities companies of which the reporting person is the sole manager.