MACERICH CO — Director's Dealing 2012

Mar 7, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MACERICH CO (MAC)
CIK: 0000912242
Period of Report: 2012-03-05

Reporting Person: O HERN THOMAS E (Senior EVP, Treasurer & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-05	Common Stock	C	4598	—	Acquired	129819	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-03-05	Units	$	C	4598	Disposed		Common Stock (4598)	Direct

Footnotes

F1: The reporting person redeemed 4,598 units of limited partnership interest ("Units") of The Macerich Partnership, L.P., of which the issuer is the general partner. These Units were previously vested service-based LTIP Units of The Macerich Partnership, L.P. Units are redeemable for an equal number of shares of the issuer's common stock or, at the election of the issuer, cash equal to the fair market value of such shares. The issuer elected to redeem the reporting person's Units with common stock. Units have no expiration date.

F2: In addition, 5,525 shares are held by minor children who share the reporting person's household. The reporting person disclaims beneficial ownership of all shares held by his children and this report should not be deemed an admission that the reporting person is the beneficial owner of such shares for purposes of Section 16 or otherwise.

F3: 3,597 shares are also held indirectly by the reporting person through the Company's 401(k) Plan.

F4: The reporting person also holds 65,640 vested performance-based LTIP Units and 20,000 unvested performance-based LTIP Units of The Macerich Partnership, L.P.