X0303 4 2011-05-02 0 0000890319 TAUBMAN CENTERS INC TCO 0001088534 PAYNE LISA A TAUBMAN CENTERS, INC. 200 E. LONG LAKE ROAD, SUITE 300 BLOOMFIELD HILLS MI 48304 1 1 0 0 Vice Chairman AND CFO Common Stock 2011-05-02 4 S 0 4000 58.25 D 72070 D The sale was effected pursuant to a 10b5-1 trading plan initially adopted by the reporting person on February 24, 2011. The plan provides for monthly sales of 4,000 shares of common stock if the specified minimum trading price is satisfied. Shares that are not sold in a particular month will be available for sale in subsequent months under the plan. A maximum of 36,000 shares remain available for sale under the plan, which is set to expire on February 29, 2012. /s/ Michael S. Ben, Attorney-in-Fact 2011-05-02