Form 4: Macerich Co. Executive Ann C. Menard Acquires 35,885 LTIP Units

Ann C. Menard, Chief Legal Officer/Secretary of Macerich Co., reports the acquisition of 35,885 LTIP units as long-term incentive compensation.

Summary

• On February 21, 2025, Ann C. Menard, Chief Legal Officer/Secretary of Macerich Co., acquired 35,885 LTIP units.
• These units were issued as long-term incentive compensation under the company's equity-based compensatory programs.
• The LTIP units vest in three equal installments on December 31, 2025, December 31, 2026, and December 31, 2027.
• Each LTIP unit can be converted into a common unit of limited partnership interest in The Macerich Partnership, L.P.
• Each common unit can be redeemed for cash equal to the fair market value of a share of Macerich Co.'s common stock, or at the Issuer's election, acquired for one share of common stock.
• Following the transaction, Menard directly owns 129,285 shares of Macerich Co. common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects standard executive compensation practices and aligns management with long-term company performance. There are no indications of negative events or concerns.

Positives

• The acquisition of LTIP units aligns the executive's interests with the long-term performance of the company.
• The vesting schedule encourages continued service and commitment from the executive.

Future Outlook

The document does not contain specific forward-looking statements, but the LTIP units suggest a continued focus on long-term incentive alignment.

Industry Context

This filing is a routine disclosure of executive compensation and aligns with standard practices for publicly traded companies to incentivize and retain key personnel.

Comparison to Industry Standards

• Granting LTIP units to executives is a common practice among publicly traded REITs like Macerich to align management's interests with shareholder value.
• Similar companies such as Simon Property Group and Public Storage also utilize equity-based compensation plans for their executives.
• The vesting schedule of one-third per year over three years is a typical vesting structure for LTIP grants.

Stakeholder Impact

• The LTIP units incentivize the executive to focus on long-term value creation, which benefits shareholders.
• The compensation structure can help retain key personnel, ensuring stability and expertise within the company.

Key Dates