MAC » Topics » Item 7.01 Regulation FD Disclosure .

This excerpt taken from the MAC 8-K filed Oct 21, 2009.
Regulation FD Disclosure.

 

On October 21, 2009, The Macerich Company (the “Company”) issued a press release announcing updated earnings guidance for 2009.

 

A copy of the press release is furnished with this Form 8-K and attached hereto as Exhibit 99.1. Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act.

 

This excerpt taken from the MAC 8-K filed Feb 25, 2009.

Item 7.01                     Regulation FD Disclosure.

 

The Macerich Company (the “Company”) has committed to a plan to reduce its workforce by 142 employees out of a total of approximately 2,845 regular and temporary employees and expects to complete this reduction during the first quarter of 2009. This reduction in workforce is a result of the Company’s review and realignment of its strategic priorities, including its expectation for reduced development and redevelopment in the near future.

 

The Company expects to incur total charges of approximately $5 million in connection with this workforce reduction and will recognize all of these charges in the first quarter of 2009.  These charges were considered in the Company’s recently announced 2009 earnings guidance range.

 

2



 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 

 

 

THE MACERICH COMPANY

 

 

(Registrant)

 

 

 

 

 

 

 

 

By:

/s/ Richard A. Bayer

Date:

February 25, 2009

 

 

Richard A. Bayer

 

 

 

Senior Executive Vice President,

 

 

 

Chief Legal Officer and Secretary

 

3


This excerpt taken from the MAC 8-K filed Oct 14, 2008.

ITEM 7.01      REGULATION FD DISCLOSURE.

 

As a result of the recent volatility in the financial markets subsequent to the October 1st closing of Macerich’s executive trading window, and the inability to quickly liquefy other assets, on October 9 and 10, 2008, a total of 345,173 Macerich shares were involuntarily sold by Mr. Arthur Coppola’s broker to satisfy Mr. Coppola’s collateral requirement under his line of credit with his brokerage firm.  Mr. Coppola now owns approximately 445,119 shares of Macerich common stock (excluding any unvested restricted stock) in addition to 1,471,477 operating partnership units in The Macerich Partnership, L.P.  The operating partnership units are owned free and clear, and are not encumbered by any loans. Mr. Coppola’s remaining 445,119 shares of Macerich common stock secure his current line of credit balance of approximately $13 million and may also be subject to future involuntary sales.

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, The Macerich Company has duly caused this report to be signed by the undersigned, hereunto duly authorized, in the City of Santa Monica, State of California, on October 14, 2008.

 

 

THE MACERICH COMPANY

 

 

 

 

 

By: THOMAS E. O’HERN

 

 

 

 

 

 

 

 

/s/ Thomas E. O’Hern

 

 

Senior Executive Vice President,

 

 

Chief Financial Officer

 

 

and Treasurer

 

 

3


This excerpt taken from the MAC 8-K filed Aug 7, 2008.

ITEM 7.01    REGULATION FD DISCLOSURE.

        On August 7, 2008, the Company made available on its website a financial supplement containing financial and operating information of the Company ("Supplemental Financial Information") for the three and six months ended June 30, 2008 and such Supplemental Financial Information is furnished as Exhibit 99.2 hereto.

        The Supplemental Financial Information included as an exhibit with this report is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed to be "filed" with the SEC or incorporated by reference into any other filing with the SEC.

This excerpt taken from the MAC 8-K filed May 8, 2008.
Regulation FD Disclosure.

 

On May 7, 2008, the Audit Committee of the Company’s Board of Directors (the “Audit Committee”) concluded, following a determination on May 7, 2008 by the Company’s management, that the Company will restate its previously issued consolidated financial statements as of and for the years ended December 31, 2007, 2006 and 2005, along with any affected selected consolidated financial data for such years, and that the previously issued consolidated financial statements of the Company audit and the related audit reports of its independent registered public accountants for those years as well as the interim quarterly condensed financial statements should no longer be relied upon.  Such conclusion was based upon an error in the purchase accounting treatment for the acquisition of Wilmorite Properties, Inc. and Wilmorite Holdings, L.P.

 

In connection with the Wilmorite acquisition, approximately 3.4 million convertible preferred units were issued which were redeemable for that portion of the Wilmorite portfolio generally located in the greater Rochester area (the “Rochester Redemption”).  Effective January 1, 2008, the Rochester Redemption closed.  In connection with the review of that redemption, the original purchase accounting treatment for the 2005 Wilmorite acquisition was reconsidered and changed due to an error.  The Company will restate its financial statements for the years ended December 31, 2007, 2006 and 2005 to reflect minority interest on a carry-over predecessor basis in the initial purchase price accounting which will be reversed in its entirety at January 1, 2008, the date of the Rochester Redemption closing.  As a result of this error, previously reported net income available to common stockholders was understated by approximately $2 million in 2007 and overstated by approximately $11 million in 2006 and approximately $146 million in 2005.  Accumulated deficit was understated by approximately $155 million; approximately $157 million and approximately $146 million as of December 31, 2007, 2006 and 2005.  At January 1, 2008, the redemption date, the reversal of the entries noted above will decrease accumulated deficit by approximately $173 million.   These changes will have no impact on the Company’s earnings before interest, income taxes, depreciation, amortization and minority interests, or cash flows provided or used in operating activities for the affected periods.

 

The Company’s Audit Committee has discussed the matters disclosed in this filing with its independent accountants, Deloitte & Touche LLP.

 

2



 

This excerpt taken from the MAC 8-K filed Feb 12, 2008.

ITEM 7.01             REGULATION FD DISCLOSURE.

 

On February 12, 2008, the Company made available on its website a financial supplement containing financial and operating information of the Company (“Supplemental Financial Information”) for the three and twelve months ended December 31, 2007 and such Supplemental Financial Information is furnished as Exhibit 99.2 hereto.

 

The Supplemental Financial Information included as an exhibit with this report is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed to be “filed” with the SEC or incorporated by reference into any other filing with the SEC.

 

This excerpt taken from the MAC 8-K filed Oct 31, 2007.

ITEM 7.01             REGULATION FD DISCLOSURE.

 

On October 31, 2007, the Company made available on its website a quarterly financial supplement containing financial and operating information of the Company (“Supplemental Financial Information”) for the three and nine months ended September 30, 2007 and such Supplemental Financial Information is furnished as Exhibit 99.2 hereto.

 

The Supplemental Financial Information included as an exhibit with this report is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed to be “filed” with the SEC or incorporated by reference into any other filing with the SEC.

 

This excerpt taken from the MAC 8-K filed Aug 2, 2007.

ITEM 7.01             REGULATION FD DISCLOSURE.

On August 2, 2007, the Company made available on its website a quarterly financial supplement containing financial and operating information of the Company (“Supplemental Financial Information”) for the three and six months ended June 30, 2007 and such Supplemental Financial Information is furnished as Exhibit 99.2 hereto.

The Supplemental Financial Information included as an exhibit with this report is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed to be “filed” with the SEC or incorporated by reference into any other filing with the SEC.

This excerpt taken from the MAC 8-K filed May 4, 2007.

ITEM 7.01             REGULATION FD DISCLOSURE.

On May 4, 2007, the Company made available on its website a quarterly financial supplement containing financial and operating information of the Company (“Supplemental Financial Information”) for the three months ended March 31, 2007 and such Supplemental Financial Information is furnished as Exhibit 99.2 hereto.

The Supplemental Financial Information included as an exhibit with this report is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed to be “filed” with the SEC or incorporated by reference into any other filing with the SEC.

This excerpt taken from the MAC 8-K filed Feb 13, 2007.

ITEM 7.01             REGULATION FD DISCLOSURE.

On February 13, 2007, the Company made available on its website a financial supplement containing financial and operating information of the Company (“Supplemental Financial Information”) for the three and twelve months ended December 31, 2006 and such Supplemental Financial Information is furnished as Exhibit 99.2 hereto.

The Supplemental Financial Information included as an exhibit with this report is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed to be “filed” with the SEC or incorporated by reference into any other filing with the SEC.

This excerpt taken from the MAC 8-K filed Nov 3, 2006.

ITEM 7.01             REGULATION FD DISCLOSURE.

On November 3, 2006, the Company made available on its website a quarterly financial supplement containing financial and operating information of the Company (“Supplemental Financial Information”) for the three and nine months ended September 30, 2006 and such Supplemental Financial Information is furnished as Exhibit 99.2 hereto.

The Supplemental Financial Information included as an exhibit with this report is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed to be “filed” with the SEC or incorporated by reference into any other filing with the SEC.

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki