Macerich Co. Announces Board Changes and Executive Compensation Updates
Ticker: MAC · Form: 8-K · Filed: Nov 6, 2024 · CIK: 912242
Sentiment: neutral
Topics: board-changes, executive-compensation, regulation-fd
Related Tickers: MAC
TL;DR
Macerich board shake-up and comp changes filed. Watch for new director impact.
AI Summary
On November 1, 2024, The Macerich Company (MAC) filed an 8-K report detailing changes in its board of directors and executive compensation. Specifically, the filing announced the departure of director Thomas E. O'Hern and the appointment of new directors, along with updates to executive compensation arrangements.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy, governance, and future performance, impacting investor confidence.
Risk Assessment
Risk Level: medium — Board and executive changes can introduce uncertainty regarding future strategy and leadership effectiveness.
Key Numbers
- 1-12504 — SEC File Number (Identifies the company's filing history with the SEC.)
- 95-4448705 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- The Macerich Company (company) — Registrant
- Thomas E. O'Hern (person) — Departing Director
- November 1, 2024 (date) — Date of Earliest Event Reported
- 401 Wilshire Boulevard, Suite 700, Santa Monica, California 90401 (location) — Principal Executive Offices
FAQ
Who are the newly appointed directors to The Macerich Company's board?
The filing indicates the appointment of new directors but does not name them in the provided text.
What specific changes were made to executive compensation arrangements?
The filing mentions updates to compensatory arrangements of certain officers but does not detail the specific changes in the provided text.
What was the reason for Thomas E. O'Hern's departure as director?
The filing states the departure of director Thomas E. O'Hern but does not provide the reason for his departure.
What is the primary business of The Macerich Company?
The Macerich Company is identified as a Real Estate Investment Trust (SIC code 6798).
When did the earliest event reported in this 8-K filing occur?
The earliest event reported in this 8-K filing occurred on November 1, 2024.
Filing Stats: 1,601 words · 6 min read · ~5 pages · Grade level 11 · Accepted 2024-11-06 06:45:52
Key Financial Figures
- $0.01 — Common stock of The Macerich Company, $0.01 par value per share MAC The New Yor
- $600,000 — Swanstrom's annual base salary will be $600,000 and he will have the potential to earn
- $375,000 — rely in cash and in the fixed amount of $375,000 on or before December 31, 2024 and his
- $1,500,000 — having a grant date fair value equal to $1,500,000, pursuant to the terms of the Company's
- $100,000 — monthly consulting fee in the amount of $100,000, payable in three monthly installments.
Filing Documents
- d835542d8k.htm (8-K) — 35KB
- d835542dex991.htm (EX-99.1) — 4KB
- 0001193125-24-251674.txt ( ) — 164KB
- mac-20241101.xsd (EX-101.SCH) — 3KB
- mac-20241101_lab.xml (EX-101.LAB) — 18KB
- mac-20241101_pre.xml (EX-101.PRE) — 11KB
- d835542d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits The following exhibits are filed as part of this Current Report on Form 8-K. Exhibit Number Description 99.1 Press Release, dated November 6, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 3
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, The Macerich Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. THE MACERICH COMPANY By: ANN C. MENARD November 6, 2024 /s/ Ann C. Menard Date Senior Executive Vice President, Chief Legal Officer and Secretary 4