X0303 4 2010-12-14 0 0000912242 MACERICH CO MAC 0001022063 COWNIE JAMES S THE MACERICH COMPANY 401 WILSHIRE BOULEVARD #700 SANTA MONICA CA 90401 1 0 0 0 COMMON STOCK 2010-12-14 4 M 0 5400 18.343 A 77146 D DIRECTOR STOCK OPTION (Right to Buy) 18.343 2010-12-14 4 M 0 5400 0 A 2000-06-30 2010-12-31 COMMON STOCK 5400 10800 D Includes 960 shares acquired as part of the Company's quarterly dividend paid on March 22, 2010. In addition, 4,042 shares are held by his wife which includes 54 shares acquired as part of the Company's quarterly dividend paid on March 22, 2010. The reporting person disclaims beneficial ownership of all shares held by his wife and this report should not be deemed an admission that the reporting person is the beneficial owner of such shares for purposes of Section 16 or otherwise. Madonna R. Shannon for James S. Cownie 2010-12-15