MACERICH CO — Director's Dealing 2011

Jan 3, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MACERICH CO (MAC)
CIK: 0000912242
Period of Report: 2011-01-01

Reporting Person: Abbey Douglas D (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-01-01	Phantom Stock Units	$0	A	1700.92	Acquired		Common Stock (1700.92)	Direct

Footnotes

F1: Convertible on a 1 for 1 basis.

F2: The shares attributable to the phantom stock units first become distributable upon the earlier of the January 1 following the date of termination of board service or January 1, 2020 in a single lump sum pursuant to an election in accordance with the Plan terms.

F3: Includes 53.65 previously unreported phantom stock units accrued under the dividend reinvestment feature of the Plan.