secwatch.observer — SEC 8-K summary
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Issuer:     MACERICH CO (MAC)
CIK:        0000912242
Form:       8-K
Filed at:   2024-02-05T23:59:59+00:00
Accession:  0001193125-24-023427
Event type: leadership
Sentiment:  positive
Materiality: 0.75
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Macerich names Jackson Hsieh CEO; O'Hern, Coppola retire Feb 29
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- Jackson Hsieh appointed CEO and President effective March 1, 2024; succeeds Tom O'Hern (30 yrs) and Ed Coppola (46 yrs).
- Hsieh receives $1M base salary, 150% target bonus, $5M sign-on LTIP grant, and $6.5M annual LTIP grant.
- O'Hern will advise through June 30, 2024; both O'Hern and Coppola remain on Board through current term.
- Hsieh previously CEO of Spirit Realty Capital, which merged with Realty Income in a $9.3B deal.
- Board combined two severance plans into one effective March 1, 2024, with multiples of 2x/1.5x/1x for tiered executives.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/912242/000119312524023427/0001193125-24-023427-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/912242/000119312524023427/d755825d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-023427

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