SITE Centers Corp. — Director's Dealing 2014

Aug 12, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DDR CORP (DDR)
CIK: 0000894315
Period of Report: 2014-08-08

Reporting Person: Otto Alexander (10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-08-08	Call Option (obligation to sell)	$15.6016	E	6810538	Disposed		Common Stock (6810538)	Direct
2014-08-08	Call Option (obligation to sell)	$15.5692	S	6810538	Disposed		Common Stock (6810538)	Direct

Footnotes

F1: On August 8, 2014, the covered call option written by Mr. Alexander Otto ("Mr. Otto") pursuant to the second amended covered call option agreement (the "Second Amended Covered Call Agreement"), dated June 18, 2013, to cover a period of 12 months, was cancelled and rolled forward into the Third Amended Covered Call Agreement (as defined and discussed in Footnotes 3 and 4). 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 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 Second Amended Covered Call Agreement had an exercise price of $15.6016 per share, which was determined on June 18, 2013. There was no premium for Mr. Otto under the Second Amended Covered Call Agreement. (Continued to Footnote 3)

F3: (Continued from Footnote 2) Each of the 14 components containing 454,035 call options would have expired 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 would have expired on September 5, 2014 (for each component, the "Second Amended Expiration Date"). The call options constituting each component of the covered call option could have been 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. (Continued to Footnote 4)

F4: (Continued from Footnote 3) On August 8, 2014, Mr. Otto rolled forward the Second Amended Covered Call Agreement by amending and restating the terms and conditions of the Second Amended Covered Call Agreement (as amended and restated, the "Third Amended Covered Call Agreement"). In the Third Amended Covered Call Agreement, the exercise price was decreased and the expiration or maturity dates of the call options were extended. The amount of shares subject to the Third Amended Covered Call Agreement remains the same. Pursuant to the Third 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 Third Amended Covered Call Agreement have an exercise price of $15.5692, which was determined on August 8, 2014. There is no premium for Mr. Otto under the Third 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 17, 18, 19, 20, 21, 24, 25, 26, 27, 28, and 31, 2015 and September 1, 2 and 3, 2015, respectively, and the component containing 454,048 call options expires on September 4, 2015 (for each component, the "Third Amended Expiration Date"). The call options constituting each component of the covered call option may be exercised only on the Third 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.