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DEF 14A
MACERICH CO filed this Form DEF 14A on 05/17/2018
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Table of Contents

Option Exercises and Stock Vested—Fiscal 2017

The following table presents information regarding vesting of LTIP Units during 2017 that were previously granted to the named executive officers. None of the named executive officers exercised option awards during 2017.

 

     Option Awards      Stock Awards  

Name

   Number of
Shares
Acquired
on Exercise
(#)
     Value Realized
on Exercise
($)(1)
     Number of
Shares
Acquired
on Vesting
(#)(2)
    Value Realized
on Vesting
($)(2)
 

Arthur M. Coppola

                   68,155 (3)      4,511,380  

Edward C. Coppola

                   42,675 (4)      2,831,130  

Thomas E. O’Hern

                   23,511 (5)      1,560,085  

Robert D. Perlmutter

                   22,745 (6)      1,509,774  

Thomas J. Leanse

                   17,745 (7)      1,177,470  

 

 

(1) Represents the amounts realized based on the difference between the market price of our stock on the date of exercise and the exercise price.

 

(2) This number represents (a) the vesting of service-based LTIP Units on December 29, 2017 and (b) the grant of fully-vested LTIP Units on March 3, 2017, representing the annual incentive compensation award for 2016 performance. An individual, upon the vesting of an equity award, does not receive cash equal to the amount contained in the Value Realized on Vesting column of this table. Instead, the amounts contained in the Value Realized on Vesting column reflect the market value of our Common Stock on the applicable vesting date. For purposes of this table, it is assumed one LTIP Unit represents the economic equivalent of one share of Common Stock. The LTIP Units do not realize their full economic value until certain conditions are met, as described on pages 51-52 of this Proxy Statement, and such conditions have been met for the 2015 and 2016 service-based LTIP Units included in this table.

 

(3) This number represents (a) the vesting of 28,874 service-based LTIP Units and (b) the grant of 39,281 fully-vested LTIP Units, representing the annual incentive compensation award for 2016 performance.

 

(4) This number represents (a) the vesting of 10,949 service-based LTIP Units and (b) the grant of 31,726 fully-vested LTIP Units, representing the annual incentive compensation award for 2016 performance.

 

(5) This number represents (a) the vesting of 5,666 service-based LTIP Units and (b) the grant of 17,845 fully-vested LTIP Units, representing the annual incentive compensation award for 2016 performance.

 

(6) This number represents (a) the vesting of 4,900 service-based LTIP Units and (b) the grant of 17,845 fully-vested LTIP Units, representing the annual incentive compensation award for 2016 performance.

 

(7) This number represents (a) the vesting of 4,286 service-based LTIP Units and (b) the grant of 13,459 fully-vested LTIP Units, representing the annual incentive compensation award for 2016 performance.

 

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