SITE Centers Corp. — Director's Dealing 2013

Jun 20, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DDR CORP (DDR)
CIK: 0000894315
Period of Report: 2013-06-18

Reporting Person: Otto Alexander (10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-06-18	Call Option (obligation to sell)	$15.50	E	6810538	Disposed		Common Stock (6810538)	Direct
2013-06-18	Call Option (obligation to sell)	$15.6016	S	6810538	Disposed		Common Stock (6810538)	Direct

Footnotes

F1: On June 18, 2013, the covered call option written by Mr. Alexander Otto ("Mr. Otto") pursuant to the amended covered call option agreement (the "Amended Covered Call Agreement"), dated October 2, 2012, to cover a period of 10 months, was cancelled and rolled forward into the Second Amended Covered Call Agreement (as defined and discussed in Footnotes 3 and 4). Pursuant to the Amended Covered Call Agreement, Mr. Otto wrote a covered call option with respect to 6,810,538 shares beneficially owned by Mr. Otto, which was 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. (Continued to Footnote 2)

F2: (Continued from Footnote 1) All of the call options under the Amended Covered Call Agreement had an exercise price of $15.50 per share, which was determined on October 2, 2012. The premium per share to Mr. Otto under the Amended Covered Call Agreement was $0.2435, for an aggregate net premium of $1,658,366. (Continued to Footnote 3)

F3: (Continued from Footnote 2) Each of the 14 components containing 454,035 call options would have expired on July 15, 16, 17, 18, 19, 22, 23, 24, 25, 26, 29, 30, and 31 and August 1 of 2013, respectively, and the component containing 454,048 call options would have expired on August 2, 2013 (for each component, the "Amended Expiration Date"). The call options constituting each component of the covered call option could have been exercised only on the Amended 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. (Continued to Footnote 4)

F4: (Continued from Footnote 3)On June 18, 2013, Mr. Otto rolled forward the Amended Covered Call Agreement by amending and restating the terms and conditions of the Amended Covered Call Agreement (as amended and restated, the "Second Amended Covered Call Agreement"). In the Second Amended Covered Call Agreement, the exercise price was increased and the expiration or maturity dates of the call options were extended. The amount of shares subject to the Second Amended Covered Call Agreement remains the same. Pursuant to the Second Amended Covered Call Agreement, Mr. Otto wrote a covered call option with respect to 6,810,538 shares beneficially owned by Mr. Otto, which 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. (Continued to Footnote 5)

F5: (Continued from Footnote 4)All of the call options under the Second Amended Covered Call Agreement have an exercise price of $15.6016, which was determined on June 18, 2013. There is no premium for Mr. Otto under the Second Amended Covered Call Agreement. (Continued to Footnote 6)

F6: (Continued from Footnote 5) Each of the 14 components containing 454,035 call options expires on August 15, 18, 19, 20, 21, 22, 25, 26, 27, 28 and 29, 2014 and September 2, 3, and 4, 2014, respectively, and the component containing 454,048 call options expires on September 5, 2014 (for each component, the "Second Amended Expiration Date"). The call options constituting each component of the covered call option may be exercised only on the Second Amended 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.