Form 4: Macerich Co. Director Stephen Acquires Phantom Stock Units

Director Andrea M. Stephen acquired phantom stock units in Macerich Co. on May 1, 2024, according to a Form 4 filing with the SEC.

Summary

• On May 1, 2024, Andrea M. Stephen, a director of Macerich Co., acquired 1,271.8 phantom stock units.
• These units are convertible on a 1-for-1 basis into common stock.
• The shares attributable to the phantom stock units generally first become distributable upon the January 1 following the date of termination of service in five equal installments pursuant to an earlier election in accordance with the Plan terms.
• Following the transaction, Stephen directly owns 36,206.92 derivative securities, which includes 3,965.30 previously unreported phantom stock units accrued under the dividend reinvestment feature of the Plan.
• The filing was signed on Stephen's behalf by Michelle Raff on May 2, 2024.
• An earlier document confirms that Andrea Stephen authorized Ann C. Menard and/or Michelle Raff to execute and file Forms 3, 4, and 5 on their behalf related to Macerich Company securities.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Positives

• The acquisition of phantom stock units by a director could be seen as a positive sign, indicating confidence in the company's future performance.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.

Stakeholder Impact

• Shareholders may view the acquisition of phantom stock units by a director as a sign of confidence in the company's future prospects.

Key Dates