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Macerich amends bylaws governing proxy access

Macerich Co.'sboard amended and restated the company's bylaws mainly to add new proxy access provisions.

The amended bylaws provide that eligible shareholders or groupsof up to 20 shareholders who have continuously owned 3% or more of Macerich's outstandingcommon stock for a minimum of three years may nominate up to the greater of twodirectors or 20% of the number of board seats and include such nominees in the company'sproxy materials.

The proxy access provisions would apply to annual shareholdermeetings after the 2016 meeting.

Macerich's board adopted the changes April 21, and the amendedbylaws went into effect immediately, according to a filing.