Macerich director granted phantom stock units

Stephen Andrea M reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Stephen Andrea M reported acquisition or exercise transactions in this Form 4 filing.

Macerich director Andrea M. Stephen received a grant of 32.66 Phantom Stock Units, a form of deferred equity compensation tied to the company’s common stock on a 1-for-1 basis. This brings her total Phantom Stock Units to 47,514.08, including 741.49 units previously accrued through the plan’s dividend reinvestment feature. The units generally become payable in common stock in five equal annual installments starting on the January 1 following termination of service, based on an earlier distribution election under the plan.

Insider Trade Summary

Grant/Award: 32.66 shares

Grant/Award 1 txn

Insider Stephen Andrea M

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	32.66	$0.00	$0.00

Holdings After Transaction: Phantom Stock Units — 47,514.08 contracts (Direct)

Footnotes (3)

1. F1. Convertible on a 1 for 1 basis.
2. F2. The shares attributable to the phantom stock units generally first become distributable upon the January 1 following the date of termination of service in five equal installments pursuant to an earlier election in accordance with the Plan terms.
3. F3. Includes 741.49 previously unreported phantom stock units accrued under the dividend reinvestment feature of the Plan.

Key Figures

Phantom units granted: 32.66 units Total phantom units after grant: 47,514.08 units Conversion ratio: 1:1 to common stock +1 more

4 metrics

Phantom units granted 32.66 units Grant of Phantom Stock Units on 2026-06-30

Total phantom units after grant 47,514.08 units Holdings of Phantom Stock Units following transaction

Conversion ratio 1:1 to common stock Each Phantom Stock Unit convertible into one share

Dividend reinvestment accrual 741.49 units Previously unreported Phantom Stock Units from dividend reinvestment

Key Terms

Phantom Stock Units, dividend reinvestment feature, termination of service, distributable

4 terms

Phantom Stock Units financial

"Includes 741.49 previously unreported phantom stock units accrued under the dividend reinvestment feature of the Plan."

Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.

dividend reinvestment feature financial

"previously unreported phantom stock units accrued under the dividend reinvestment feature of the Plan."

termination of service financial

"first become distributable upon the January 1 following the date of termination of service in five equal installments"

distributable financial

"generally first become distributable upon the January 1 following the date of termination of service"

FAQ

What insider transaction did MAC director Andrea M. Stephen report?

Andrea M. Stephen reported receiving 32.66 Phantom Stock Units as a grant. These units are a form of deferred equity compensation tied to Macerich’s common stock and increase her total Phantom Stock Units to 47,514.08 under the company’s compensation plan.

How many Phantom Stock Units does the MAC director hold after this grant?

After the 32.66-unit grant, Andrea M. Stephen holds 47,514.08 Phantom Stock Units. This total includes 741.49 units that were previously unreported and accrued automatically through the plan’s dividend reinvestment feature linked to Macerich’s common stock.

How are Macerich (MAC) Phantom Stock Units converted to common stock?

Macerich Phantom Stock Units are convertible into common stock on a 1-for-1 basis. Each unit represents the right to receive one share of common stock, subject to the plan’s timing and distribution rules tied to the director’s service termination.

When will the Phantom Stock Units for the MAC director be distributed?

The Phantom Stock Units generally become distributable beginning January 1 following termination of service. Distribution typically occurs in five equal annual installments, according to an earlier election made by the director under the terms of Macerich’s compensation plan.

What does the dividend reinvestment feature mean for MAC Phantom Stock Units?

The dividend reinvestment feature credits additional Phantom Stock Units instead of cash dividends. For Andrea M. Stephen, this feature resulted in 741.49 previously unreported units, which are added to her total Phantom Stock Unit balance under Macerich’s plan.

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Accepted by SEC EDGAR 07/01/2026 - 04:00 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Stephen Andrea M

(Last) (First) (Middle)

401 WILSHIRE BLVD.

SUITE 700

(Street)

SANTA MONICA CALIFORNIA 90401

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
MACERICH CO [ MAC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock Units	(1)	06/30/2026		A		32.66		(2)	(2)	Common Stock	32.66	$0	47,514.08(3)	D

Explanation of Responses:

1. Convertible on a 1 for 1 basis.

2. The shares attributable to the phantom stock units generally first become distributable upon the January 1 following the date of termination of service in five equal installments pursuant to an earlier election in accordance with the Plan terms.

3. Includes 741.49 previously unreported phantom stock units accrued under the dividend reinvestment feature of the Plan.

Remarks:

	Andrea M. Stephen	07/01/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)