MACERICH CO — Director's Dealing 2015

Feb 11, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MACERICH CO (MAC)
CIK: 0000912242
Period of Report: 2014-12-30

Reporting Person: Leanse Thomas J. (Senior EVP, CLO and Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-02-09	Common Stock	M	39932	$59.57	Acquired	40243	Direct
2015-02-09	Common Stock	D	27236	$87.34	Disposed	13007	Direct
2015-02-09	Common Stock	C	15000	—	Acquired	28007	Direct
2015-02-10	Common Stock	S	27500	$87.4564	Disposed	507	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-12-30	OP Units	$	G	2500	Disposed		Common Stock (2500)	Direct
2015-02-04	OP Units	$	G	2500	Disposed		Common Stock (2500)	Direct
2015-02-09	OP Units	$	C	15000	Disposed		Common Stock (15000)	Direct
2015-02-09	Stock Appreciation Rights	$59.57	M	39932	Disposed	2022-09-01	Common Stock (39932)	Direct

Footnotes

F1: The reporting person redeemed 15,000 units of limited partnership interest ("Units") of The Macerich Partnership, L.P., of which the issuer is the general partner. 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. The reporting person also holds 10,338 vested performance-based LTIP Units and 7,284 unvested service-based LTIP Units.

F2: The sales price ranged from $87.25 to $87.68.

F3: The reporting person sold 12,500 shares received upon exercise of his stock appreciation rights and 15,000 shares received upon redemption of his Units. These shares were sold in connection with tax planning.

F4: The reporting person also holds 161 shares in a trust for the benefit of one of his children.

F5: In addition, 50 shares are held by his adult child who is currently sharing the reporting person's household. The reporting person disclaims beneficial ownership of all shares held by this child, 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.

F6: 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.

F7: These securities were gifted to two separate entities.

F8: None.