SITE Centers Corp. — Director's Dealing 2012

Apr 3, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DDR CORP (DDR)
CIK: 0000894315
Period of Report: 2012-03-30

Reporting Person: Otto Alexander (10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-03-30	Call Option (obligation to sell)	$15.0527	S	6810538	Disposed		Common Stock (6810538)	Direct

Footnotes

F1: On March 29, 2012, Mr. Alexander Otto ("Mr. Otto") entered into a covered call option agreement ("Covered Call Agreement"). Pursuant to the Covered Call Agreement, Mr. Otto wrote a covered call option with respect to 6,810,538 shares beneficially owned by Mr. Otto. The covered call option is separated into 15 separate components containing an aggregate amount of 6,810,538 call options: 14 of which contain 454,035 call options and 1 of which contains 454,048 call options. All of the call options under the Covered Call Agreement have an exercise price of $15.0527 per share, which was determined on March 30, 2012. The premium per share paid to Mr. Otto under the Covered Call Agreement was $0.3914, for an aggregate premium of $2,665,644.57. (Continued to Footnote 2)

F2: (Continued from Footnote 1)Each of the 14 components containing 454,035 call options expires on October 8, 9, 10, 11, 12, 15, 16, 17, 18, 19, 22, 23, 24 and 25 of 2012, respectively, and the component containing 454,048 call options expires on October 26, 2012 (for each component, the "Expiration Date"). The call options constituting each component of the covered call option may be exercised only on the Expiration Date for that component. The underlying shares with respect to the options are pledged by Mr. Otto until such time as the options expire.