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
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Otto Alexander

(Last) (First) (Middle)
KG CURA VERM?GENSVERWALTUNG
G.M.B.H. & CO. WANDSBEKER STR. 3-7

(Street)
HAMBURG 2M 22179

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
DEVELOPERS DIVERSIFIED REALTY CORP [ DDR ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) X Other (specify below)
Member of 13(d) group
3. Date of Earliest Transaction (Month/Day/Year)
03/18/2011
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
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
Common Stock 03/18/2011 X 6,000,000 A $6 39,674,485(1) D
Common Stock 03/18/2011 X 3,000,000 A $6 15,755,505(2) D
Common Stock 03/18/2011 X 500,000 A $6 2,625,916(3) D
Common Stock 03/18/2011 X 500,000 A $6 2,625,916(4) D
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
Warrant (right to buy) $6 03/18/2011 X 3,000,000 05/11/2009 05/11/2014 Common Stock 3,000,000(1) $0 0 D
Warrant (right to buy) $6 03/18/2011 X 3,000,000 09/18/2009 09/18/2014 Common Stock 3,000,000(1) $0 0 D
Warrant (right to buy) $6 03/18/2011 X 1,500,000 05/11/2009 05/11/2014 Common Stock 1,500,000(2) $0 0 D
Warrant (right to buy) $6 03/18/2011 X 1,500,000 09/18/2009 09/18/2014 Common Stock 1,500,000(2) $0 0 D
Warrant (right to buy) $6 03/18/2011 X 250,000 05/11/2009 05/11/2014 Common Stock 250,000(3) $0 0 D
Warrant (right to buy) $6 03/18/2011 X 250,000 09/18/2009 09/18/2014 Common Stock 250,000(3) $0 0 D
Warrant (right to buy) $6 03/18/2011 X 250,000 05/11/2009 05/11/2014 Common Stock 250,000(4) $0 0 D
Warrant (right to buy) $6 03/18/2011 X 250,000 09/18/2009 09/18/2014 Common Stock 250,000(4) $0 0 D
1. Name and Address of Reporting Person*
Otto Alexander

(Last) (First) (Middle)
KG CURA VERM?GENSVERWALTUNG
G.M.B.H. & CO. WANDSBEKER STR. 3-7

(Street)
HAMBURG 2M 22179

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Otto-Bernstein Katharina

(Last) (First) (Middle)
KG CURA VERM?GENSVERWALTUNG
G.M.B.H. & CO. WANDSBEKER STR. 3-7

(Street)
HAMBURG 2M 22179

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Otto Michael Ingo Werner

(Last) (First) (Middle)
KG CURA VERM?GENSVERWALTUNG
G.M.B.H. & CO. WANDSBEKER STR. 3-7

(Street)
HAMBURG 2M 22179

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Vater Janina

(Last) (First) (Middle)
KG CURA VERM?GENSVERWALTUNG
G.M.B.H. & CO. WANDSBEKER STR. 3-7

(Street)
HAMBURG 2M 22179

(City) (State) (Zip)
Explanation of Responses:
1. Securities owned by Alexander Otto. Alexander Otto has sole ownership of 39,674,485 shares of Common Stock.
2. Securities owned by Katharina Otto-Bernstein. Katharina Otto-Bernstein has sole ownership of 15,755,505 shares of Common Stock.
3. Securities owned by Dr. Michael Otto. Dr. Michael Otto has sole ownership of 2,625,916 shares of Common Stock.
4. Securities owned by Janina Vater. Janina Vater directly has beneficial ownership of 2,625,916 shares of Common Stock. Pursuant to a General Power of Attorney, Dr. Michael Otto has indirect beneficial ownership over the shares Ms. Vater owns.
/s/ KG CURA Verm?gensverwaltung G.m.b.H. & Co., by power of attorney, By: Dr. Thomas Finne, For: Alexander Otto 03/21/2011
/s/ KG CURA Verm?gensverwaltung G.m.b.H. & Co., by power of attorney, By: Dr. Thomas Finne, For: Katharina Otto-Bernstein 03/21/2011
/s/ KG CURA Verm?gensverwaltung G.m.b.H. & Co., by power of attorney, By: Dr. Thomas Finne, For: Dr. Michael Otto 03/21/2011
/s/ KG CURA Verm?gensverwaltung G.m.b.H. & Co., by power of attorney, By: Dr. Thomas Finne, For: Janina Vater 03/21/2011
** 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).
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