Thomas E. O'Hern has been the CEO of The Macerich Company since January 1, 2019. His background is solid, starting with a Bachelor's degree in Accounting and progressing to various leadership positions in finance and real estate. Before becoming CEO,...

Thomas E. O'Hern has been the CEO of The Macerich Company since January 1, 2019. His background is solid, starting with a Bachelor's degree in Accounting and progressing to various leadership positions in finance and real estate. Before becoming CEO, he served as the CFO for Macerich, bringing nearly two decades of experience in the company by that time. His leadership focuses on strategic growth and managing financial performance, which is crucial in the retail real estate industry, especially since he has seen numerous challenges in that space, like tenant bankruptcies and evolving retail strategies. In 2023, his compensation package reached nearly $10 million, which reflects a strong performance culture, rewarding executives based on how well the company does.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Macerich CEOs

T

Thomas E. O'Hern

Ex-CEO of Macerich

Education

Bachelor's degree in Accounting

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Real Estate

Born

January 1, 1957 - 68 years ago

CEO of Macerich for

4 years 11 months (Jan 2019 - Dec 2023)

Previous Experience

Senior Executive Vice President, Chief Financial Officer and Treasurer for Macerich since 2008; previously held executive roles in various real estate development companies.

Rivals

Competitors/colleagues of Thomas E. O'Hern

K

Conor C. Flynn

CEO of Kimco Realty

2023 Compensation

Stock

$0.00

Salary

$1.00M

Bonus

$2.92M

Other

$26.34K

Total Holdings

$28.47M

B

James M. Taylor Jr.

CEO of Brixmor Property Group

2023 Compensation

Stock

$6.59M

Salary

$1.10M

Bonus

$2.43M

Other

$36.11K

Total Holdings

$29.52M

U

Jeffrey S. Olson

CEO of Urban Edge Properties

2023 Compensation

Stock

$1.66M

Salary

$1.10M

Bonus

$2.33M

Other

$22.50K

Total Holdings

$5.75M

S

Andrew Juster

CEO of Simon Property Group

2023 Compensation

Stock

$5.51M

Salary

$1.25M

Bonus

$4.00M

Other

$314.05K

Total Holdings

$1.96M

S

David Simon

CEO of Simon Property Group

2023 Compensation

Stock

$5.51M

Salary

$1.25M

Bonus

$4.00M

Other

$314.05K

Total Holdings

$2.93M

Holdings

See how much did Thomas E. O'Hern make over time.

As CEO of Macerich, O’Hern has had significant dealings in managing LTIP (Long-Term Incentive Plan) Units, which align his interests with company performance. In 2023, he received a grant of 164,084 performance-based LTIP Units valued around $4.5 million, contingent on...

As CEO of Macerich, O’Hern has had significant dealings in managing LTIP (Long-Term Incentive Plan) Units, which align his interests with company performance. In 2023, he received a grant of 164,084 performance-based LTIP Units valued around $4.5 million, contingent on achieving specific performance targets over three years. O'Hern's stock options have been tied to an evaluation of same-center NOI growth and leasing metrics. His overall portfolio reflects a strategic focus, but recent years have seen some volatility in stock performance, with notable fluctuations affecting his realizable wealth from these units. Just a few years earlier, in 2020, his total direct compensation was about $8.4 million, showing how his financial stake in Macerich is significant and directly impacted by his leadership efforts. Now, the bulk of his wealth is heavily integrated into company performance, pushing for both personal and organizational success.

Loading...

Total Stock Sold

$16.97M

MAC

$16.97M

347,849 MAC shares

What if they kept their stock?

If Thomas E. O'Hern didn't sell their stock, today they would have:
Extra MAC347,849 shares worth $3.26M.
This is -80.82% and $13.72M less than what they got when they sold the stock.

Charitable Transactions

MAC

24,348 shares

MAC

DEI

5,000 shares

DEI

Recent Charitable Transactions

MAC

1,117 shares

MAC

Dec 31, 2021

Charity

MAC

1,449 shares

MAC

Dec 31, 2020

Charity

DEI

5,000 shares

DEI

Mar 5, 2020

Charity

MAC

2,800 shares

MAC

Jun 30, 2016

Charity

MAC

1,500 shares

MAC

Dec 23, 2016

Charity

MAC

4,800 shares

MAC

Oct 6, 2016

Charity

Insider Trading

See recent insider trades of Thomas E. O'Hern.

MAC

$1.61M

MAC at $16.94/share

Mar 20, 2024

Sale

MAC

$130.53K

MAC at $16.39/share

Mar 14, 2024

Sale

MAC

$99.56K

MAC at $7.77/share

Sep 23, 2022

Purchase

MAC

$199.42K

MAC at $8.98/share

Sep 16, 2022

Purchase

MAC

$237.25K

MAC at $9.49/share

Jun 13, 2022

Purchase

MAC

$146.15K

MAC at $14.62/share

Mar 24, 2022

Purchase

MAC

1,117 shares

MAC

Dec 31, 2021

Charity

MAC

1,449 shares

MAC

Dec 31, 2020

Charity

MAC

$122.56K

MAC at $6.13/share

Mar 27, 2020

Purchase

MAC

$248.77K

MAC at $9.95/share

Mar 16, 2020

Purchase

Compensation History

See how much did Thomas E. O'Hern make over time.

In 2023, Thomas O'Hern's total compensation reached approximately $9.998 million. The breakdown includes a base salary of $850,000 and a cash bonus of $2.89 million, reflecting his performance-driven compensation plan. His bonuses can vary up to 200% of his salary based on achieving targets, and this year he earned 120% of his target bonus due to strong operational metrics at Macerich. Notably, O'Hern's focus on long-term incentives is significant, with a large part of his package tied to LTIP Units evaluated over a multi-year performance period. This push towards performance-based pay helps align the CEO's interests with those of the shareholders, ensuring that executive rewards are closely linked to the company’s financial health and growth. Such structures also speak to a desire for sustainable success rather than short-term gain.

Year

2023

Total Compensation

$3.83M

Salary

$850.00K

Board Justification

The compensation program is designed to attract, retain, and reward experienced executives while aligning their interests with those of stockholders through a significant portion of compensation in equity-based incentives.

Bonus

$2.89M

Board Justification

The annual incentive compensation awards for 2023 performance were paid in cash on February 22, 2024, based on a target level of 200% of base salary, with performance metrics achieving a payout of 120% of target.

Other

$85.73K

Board Justification

Includes matching contributions under 401(k) and nonqualified deferred compensation plans, life insurance premiums, and other welfare benefits.

Restricted Stock

$0.00(0 LTIP Units)

Board Justification

No stock grants vested in 2023 as the focus is on performance-based LTIP Units and service-based LTIP Units granted in 2023, which are not included in total compensation calculations.

Performance Metrics

Performance metrics for 2023 included Same Center NOI Growth, Year-End Reported Occupancy, Leasing Spreads, Net Debt Reduction, Redevelopment, and Environmental Initiatives.

Other Macerich CEOs

Here are other CEOs of Macerich

Arthur M. Coppola

Ex-CEO of Macerich

September 2008 - December 2018

Jackson Hsieh

CEO of Macerich

March 2024 - Present