UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of

the Securities Exchange Act of 1934 (Amendment No.    )

The Macerich Company

April 26, 201929, 2021

Dear Fellow Stockholders:

You are cordially invited to attend our 20192021 Annual Meeting of Stockholders to be held on Friday, June 7, 2019May 28, 2021 at 10:00 a.m. local time at The Fairmont Miramar Hotel, 101 Wilshire Boulevard, Santa Monica, California 90401.

The accompanying Notice and Proxy Statement contain details concerning the matters to be considered during our Annual Meeting.

At our Annual Meeting, you will be asked to consider and vote on the following matters:

Our Board of Directors unanimously recommends that you vote your shares:

““FOR”FOR” the election of the ten director nomineesdirectors named in ourthe accompanying Proxy Statement;

““FOR”FORthe ratification of the appointment of KPMG LLP as our independent registered public accounting firm; and

“FOR”” the approval of the compensation of our named executive officers as described in the accompanying Proxy Statement.Statement;

We are pleased to again take advantage“FOR” the approval of the Securities and Exchange Commission rules that allow us to furnish proxy materialsamendment to our stockholders overcharter to increase the Internet. We believe that thise-proxy process expedites stockholders’ receiptnumber of proxy materials, while also loweringauthorized shares of common stock;

“FOR” the costsapproval of the amendment and reducing the environmental impactrestatement of our Annual Meeting. Employee Stock Purchase Plan; and

“FOR” the ratification of the appointment of KPMG LLP as our independent registered public accounting firm.

On or about April 26, 2019,29, 2021, we mailed most ofto our stockholders a Noticecopies of Internet Availability of Proxy Materials containing instructions on how to access our Proxy Statement and 20182020 Annual Report to Stockholders and authorize their proxies online. All other stockholders will receive these materials by mail. If you only received a Notice of Internet Availability of Proxy Materials by mail, the Notice contains instructions on how you can obtain a paper copy of the Proxy Statement and Annual Report.Stockholders.

We look forward to seeing you at our Annual Meeting and thank you for your continued support.

We are actively monitoring the coronavirus (COVID-19) situation and are sensitive to the public health and travel concerns our stockholders may have and the protocols that federal, state, and local governments may impose. Given that we do not know when the restrictions imposed as a result of COVID-19 will be relaxed, this year we must reserve the right to notify you in the future that our Annual Meeting will instead be held solely by remote communication (a virtual meeting).

Your vote is important.important. Whether or not you plan to attend our Annual Meeting, we urge you to submit your Proxy to ensure your shares are represented and voted at our Annual Meeting. If you attend our Annual Meeting, you may continue to have your shares voted as instructed on your Proxy or you may withdraw your Proxy at the meeting and vote your shares in person.person by following the instructions for doing so in the accompanying Proxy Statement.

THE MACERICH COMPANY

401 WILSHIRE BOULEVARD

SUITE 700

SANTA MONICA, CALIFORNIA 90401

NOTICE OF THE 20192021 ANNUAL MEETING OF STOCKHOLDERS

TO BE HELD ON JUNE 7, 2019MAY 28, 2021

NOTICE IS HEREBY GIVEN that the 20192021 Annual Meeting of Stockholders (the “Annual Meeting”) of The Macerich Company, a Maryland corporation (the “Company”), will be held on Friday, June 7, 2019May 28, 2021 at 10:00 a.m. local time at The Fairmont Miramar Hotel, 101 Wilshire Boulevard, Santa Monica, California 90401, to consider and vote upon:

Action may be taken on the foregoing matters at our Annual Meeting on the date specified above, or on any date or dates to which our Annual Meeting may be postponed or adjourned. Only stockholders of record of our common stock at the close of business on March 25, 201922, 2021 will be entitled to notice of, and to vote at, our Annual Meeting.

We are actively monitoring the coronavirus (COVID-19) situation, and we are sensitive to the public health and travel concerns our stockholders may have and the protocols that federal, state and local governments may impose. As part of our precautions regarding COVID-19, we are planning for the possibility that we may hold a virtual annual meeting, in which participation would be solely by means of remote communication. In the event it is not possible or advisable to hold our Annual Meeting in person, or at the current noted location, we will announce alternative arrangements, including how to participate, in a press release available at www.macerich.com as promptly as practicable before our Annual Meeting and at any postponement or adjournment thereof.file such information as additional proxy materials with the Securities and Exchange Commission. Please monitor our website www.macerich.com for updated information. If you are planning to attend our Annual Meeting, please check the website ten days prior to the meeting date.

Your vote is important.important. Whether or not you plan to attend our Annual Meeting, we urge you to submit your Proxy to ensure your shares are represented and voted at our Annual Meeting. If you attend our Annual Meeting, you may continue to have your shares voted as instructed on your Proxy or you may revokewithdraw your Proxy at our Annual Meetingthe meeting and vote your shares in person.person by following the instructions for doing so in our Proxy Statement.

Record stockholders may authorize their Proxies:

Beneficial stockholders: If your shares of common stock are held by a bank, broker or other nominee, please follow the instructions you receive from your bank, broker or other nominee on how to instruct howauthorize voting of your shares of common stock are to be voted at our Annual Meeting.

By Order of the Board of Directors

TABLE OF CONTENTS

PROXY STATEMENT SUMMARY

This summary highlights information contained elsewhere in our Proxy Statement. This summary does not contain all of the information that you should consider, and you should read the entire Proxy Statement carefully before voting or authorizing a proxy to vote your shares. Page references are supplied to help you find further information in our Proxy Statement.

Our Annual Meeting

		TIME AND DATE: 10:00 a.m. local time on Friday, June 7, 2019May 28, 2021				PLACE: The Fairmont Miramar Hotel 101 Wilshire Boulevard Santa Monica, California				RECORD DATE: Close of business on March 25, 201922, 2021

Voting

Each share of our common stock, par value $0.01 per share (“Common Stock”), entitles the holder thereof to one vote for each director nominee and one vote on each matterof the other proposals to be voted upon at our Annual Meeting.

You may vote or authorize a proxy to vote by any of the following methods:

About Our Annual Meeting (page 1)

We provide answers to many questions about our Annual Meeting, including how to vote your shares, in our Q&A section beginning on page 1 of our Proxy Statement.

Proposals and Board Recommendations

20192021 PROXY STATEMENT    i

PROXY STATEMENT SUMMARY

Our Business Highlights (page 27)31)

ii    20192021 PROXY STATEMENT

PROXY STATEMENT SUMMARY

Director Nominees (page 5)6)

2021 PROXY STATEMENT    iii

PROXY STATEMENT SUMMARY

Say-on-Pay Vote (page 66)

We retain an open line of communication with our investors on our compensation programs as well as our governance practices. At our 2020 annual meeting of stockholders, our stockholders approved our say-on-paynon-binding, advisory vote by over 95% of the votes cast.

Charter Amendment to Increase the Number of Authorized Shares of Common Stock (page 67)

We are asking our stockholders to approve an amendment to our charter to increase the number of authorized shares of Common Stock. Our Board of Directors has determined that it is advisable and in the best interests of the Company and our stockholders to amend our charter in order to have available on a timely basis additional authorized but unissued shares of Common Stock in an amount adequate to provide for our future needs.

Amendment and Restatement of our Employee Stock Purchase Plan (page 68)

We are asking our stockholders to approve the amendment and restatement of our Employee Stock Purchase Plan (“ESPP”), which was originally approved by our stockholders on May 28, 2003. We believe that our ESPP has helped and will continue to help our Company to retain and motivate our employees and to further align their interests with those of our stockholders.

Ratification of our Independent Registered Public Accounting Firm (page 64)72)

We are asking our stockholders to consider and vote upon the ratification of the appointment of KPMG LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2019.

Say-on-Pay Vote (page 65)

With the refinements to our executive compensation program over the past several years, it continues to receive strong support from our Company’s stockholders. At our 2018 annual meeting of stockholders, our stockholders approved oursay-on-paynon-binding, advisory vote by approximately 89% of the votes cast.

2019 PROXY STATEMENT    iii

The Macerich Company

April 29, 2021

Dear Fellow Stockholders:

You are cordially invited to attend our 2021 Annual Meeting of Stockholders to be held on Friday, May 28, 2021 at 10:00 a.m. local time at The Fairmont Miramar Hotel, 101 Wilshire Boulevard, Santa Monica, California 90401. The accompanying Notice and Proxy Statement contain details concerning the matters to be considered during our Annual Meeting.

At our Annual Meeting, you will be asked to consider and vote on the following matters:

Our Board of Directors unanimously recommends that you vote your shares:

“FOR” the election of the ten directors named in the accompanying Proxy Statement;

“FOR” the approval of the compensation of our named executive officers as described in the accompanying Proxy Statement;

“FOR” the approval of the amendment to our charter to increase the number of authorized shares of common stock;

“FOR” the approval of the amendment and restatement of our Employee Stock Purchase Plan; and

“FOR” the ratification of the appointment of KPMG LLP as our independent registered public accounting firm.

On or about April 29, 2021, we mailed to our stockholders copies of our Proxy Statement and 2020 Annual Report to Stockholders.

We look forward to seeing you at our Annual Meeting and thank you for your continued support.

We are actively monitoring the coronavirus (COVID-19) situation and are sensitive to the public health and travel concerns our stockholders may have and the protocols that federal, state, and local governments may impose. Given that we do not know when the restrictions imposed as a result of COVID-19 will be relaxed, this year we must reserve the right to notify you in the future that our Annual Meeting will instead be held solely by remote communication (a virtual meeting).

Your vote is important. Whether or not you plan to attend our Annual Meeting, we urge you to submit your Proxy to ensure your shares are represented and voted at our Annual Meeting. If you attend our Annual Meeting, you may continue to have your shares voted as instructed on your Proxy or you may withdraw your Proxy at the meeting and vote your shares in person by following the instructions for doing so in the accompanying Proxy Statement.

THE MACERICH COMPANY

401 WILSHIRE BOULEVARD

SUITE 700

SANTA MONICA, CALIFORNIA 90401

NOTICE OF THE 2021 ANNUAL MEETING OF STOCKHOLDERS

TO BE HELD ON MAY 28, 2021

NOTICE IS HEREBY GIVEN that the 2021 Annual Meeting of Stockholders (the “Annual Meeting”) of The Macerich Company, a Maryland corporation (the “Company”), will be held on Friday, May 28, 2021 at 10:00 a.m. local time at The Fairmont Miramar Hotel, 101 Wilshire Boulevard, Santa Monica, California 90401, to consider and vote upon:

Action may be taken on the foregoing matters at our Annual Meeting on the date specified above, or on any date or dates to which our Annual Meeting may be postponed or adjourned. Only stockholders of record of our common stock at the close of business on March 22, 2021 will be entitled to notice of, and to vote at, our Annual Meeting.

We are actively monitoring the coronavirus (COVID-19) situation, and we are sensitive to the public health and travel concerns our stockholders may have and the protocols that federal, state and local governments may impose. As part of our precautions regarding COVID-19, we are planning for the possibility that we may hold a virtual annual meeting, in which participation would be solely by means of remote communication. In the event it is not possible or advisable to hold our Annual Meeting in person, or at the current noted location, we will announce alternative arrangements, including how to participate, in a press release available at www.macerich.com as promptly as practicable before our Annual Meeting and file such information as additional proxy materials with the Securities and Exchange Commission. Please monitor our website www.macerich.com for updated information. If you are planning to attend our Annual Meeting, please check the website ten days prior to the meeting date.

Your vote is important. Whether or not you plan to attend our Annual Meeting, we urge you to submit your Proxy to ensure your shares are represented and voted at our Annual Meeting. If you attend our Annual Meeting, you may continue to have your shares voted as instructed on your Proxy or you may withdraw your Proxy at the meeting and vote your shares in person by following the instructions for doing so in our Proxy Statement.

Record stockholders may authorize their Proxies:

Beneficial stockholders: If your shares of common stock are held by a bank, broker or other nominee, please follow the instructions you receive from your bank, broker or other nominee on how to authorize voting of your shares of common stock at our Annual Meeting.

By Order of the Board of Directors

Ann C. Menard

Secretary

Santa Monica, California

April 29, 2021

TABLE OF CONTENTS

PROXY STATEMENT SUMMARY

This summary highlights information contained elsewhere in our Proxy Statement. This summary does not contain all of the information that you should consider, and you should read the entire Proxy Statement carefully before voting or authorizing a proxy to vote your shares. Page references are supplied to help you find further information in our Proxy Statement.

Our Annual Meeting

		TIME AND DATE: 10:00 a.m. local time on Friday, May 28, 2021				PLACE: The Fairmont Miramar Hotel 101 Wilshire Boulevard Santa Monica, California				RECORD DATE: Close of business on March 22, 2021

Voting

Each share of our common stock, par value $0.01 per share (“Common Stock”), entitles the holder thereof to one vote for each director nominee and one vote on each of the other proposals to be voted upon at our Annual Meeting.

You may vote or authorize a proxy to vote by any of the following methods:

About Our Annual Meeting (page 1)

We provide answers to many questions about our Annual Meeting, including how to vote your shares, in our Q&A section beginning on page 1 of our Proxy Statement.

Proposals and Board Recommendations

✓ 2021 PROXY STATEMENT    i PROXY STATEMENT SUMMARY Our Business Highlights (page 31) OPERATIONAL ACHIEVEMENTS: • Rent collections, which had dipped to approximately 35% in April and May, improved as the year progressed with collection rates of approximately 89% in the third quarter and approximately 94% in the fourth quarter • Average rent per square foot was $61.87 at December 31, 2020, representing a 1.3% increase over 2019 • Instituted extensive COVID-19 related protocols, including, among others, upgrading ventilation systems to hospital-grade air filtration, enhanced cleaning and sanitization protocols, compliance with mask-wearing mandates, social distance, customer queueing and path of travel protocols • Secured the stringent, highly regarded Bureau Veritas SafeGuard™ Hygiene Excellence and Safety Certification during 2020 and in early 2021 LEASING ACHIEVEMENTS: • Of our approximately 200 national tenants, we have received payment from and/or agreed to repayment terms for approximately 96% of those tenants, based on gross rent • Negotiated thousands of COVID-19 workout lease amendments, including over 2,200 amendments during the fourth quarter alone • Opened 173 new stores totaling over 875,000 square feet • Maintained a strong leasing pipeline for 2021 new store openings totaling approximately 900,000 square feet • Secured commitments for 70% of leased square footage expiring in 2021, and are negotiating letters of intent for the remaining 30% • Executed leases totaling approximately 900,000 square feet during the fourth quarter, only 8% less than pre-COVID-19 levels during the fourth quarter of 2019 • Secured 1,200 temporary in-line lease agreements occupying nearly 1.9 million square feet by year end, with over 800 temporary tenants during the holiday season, matching the 2019 temporary occupancy levels COMMUNITY OUTREACH ACHIEVEMENTS: During 2020, our Company engaged in many community initiatives, including: • Made our real estate available for and hosted many essential functions, such as drive-through COVID-19 testing and vaccination facilities, food drives and first responder parking, and for community activities, such as drive through graduation ceremonies, church services and drive-in concerts and movies • Donated over 1.4 million meals to support local food banks • Continued to support charities in the communities in which we do business, including providing needed supplies for first responders • Participated in marketing campaigns with the use of billboards and other media at our regional shopping centers and our community/power shopping centers (the “Centers”) for stay-at-home campaigns, healthy hygiene protocols and blood drives • Donated iPads to hospitals for use by patients requiring connection to family and friends • Donated over 500 laptops to schools in New York, California and Arizona to support disadvantaged students with online learning ENVIRONMENTAL/ SUSTAINABILITY ACHIEVEMENTS: • #1 Global Real Estate Sustainability Benchmark (“GRESB”) ranking within Retail/Americas for the sixth consecutive year • Top Ranking on CDP Climate ‘A’ List for the fifth year • One of five REITs designated as sector leaders on Barron’s list of America’s Most Sustainable Companies announced in 2020 • Retail “Leader in the Light” Environmental Award for years 2016-2019 from Nareit • Environmental Protection Agency’s Green Power Partnership List of Top 30 On-Site Generation Companies Performance-Based Equity. Starting in 2019, for our Chief Executive Officer and President, 75% of our long-term incentive equity awards are in the form of performance-based LTIP Unit awards, which are subject to vesting based on our relative total stockholder return compared to U.S.-based publicly-traded equity real estate investment trusts (“REITs”) that are categorized as “mall” or “shopping center” REITs. For our other named executive officers, 50% of our long-term incentive equity awards are in the form of performance-based LTIP Unit awards. Relative total stockholder return performance is measured over a three-year period.   ✓ “Double-Trigger” Equity Vesting. Effective with the 2016 equity grants, our equity awards are subject to double-trigger vesting acceleration in connection with a change in control. ✓ Robust Stock Ownership Guidelines. Our Chief Executive Officer is required to own common stock or any class of our equity securities or units of The Macerich Partnership, L.P. (or our “Operating Partnership”) with a value equal to 6x his base salary and our other named executive officers are required to own common stock or any class of our equity securities or units of our Operating Partnership with a value equal to 3x their respective base salaries. ✓ Holding Period. Until the minimum required stock ownership level is achieved, our named executive officers must retain 50% of thenet-after-tax profit shares from vesting of equity compensation awards. ✓ Clawback Policy. We maintain a clawback policy to recapture cash and equity incentive payments to executive officers that were based on inaccurate financial results that are subsequently restated and the amount of the executive officer’s incentive compensation would have been lower had the financial results been properly reported. ✓ Independent Compensation Consultant. The Compensation Committee engages an independent compensation consulting firm that provides us with no other services. ✓ AnnualSay-on-Pay. We annually submit our executive compensation program for our named executive officers tosay-on-pay advisory votes for stockholder consideration. WHAT WE DON’T DO Î No Excessive Risk Taking. Our compensation program does not encourage excessive risk taking by participants. Î No Excise TaxGross-Up Provisions. None of our agreements provide for excise taxgross-ups. Î No Repricing. We do not permit repricing of underwater options or stock appreciation rights (“SARs”) or permit exchange of underwater options or SARs for other awards or cash, without prior stockholder approval. Î Anti-Hedging. We do not allow hedging, monetization transactions, short sales or the purchase and sale of publicly traded options by any director, officer or employee. Î Anti-Pledging. We do not allow our directors or executive officers to pledge securities unless they can otherwise meet our stock ownership requirements. None of our directors or officers currently pledges our securities. iv    2019 ii    2021 PROXY STATEMENT PROXY STATEMENT SUMMARY   Corporate Governance Highlights (page 12)EMPLOYEE ENGAGEMENT/ CULTURE ACHIEVEMENTS: • Retention of key talent during this very challenging year • No layoffs or furloughs • Development of diversity, equity and inclusion programming, referred to internally as the DREAM initiative • Provided guidance and resources to employees to assist with the challenges and disruptions created by COVID-19, including: •   information on childcare and eldercare resources, •   mental health and wellness programs •   individualized assistance through Macerich’s robust Employee Assistance Program •   technology upgrades to assist in remote work •   providing laptops to employees to assist families and children with remote learning • Regular employee engagement programming such as: •   video meetings with various operational teams with guest executive speakers •   regular newsletters to our employee population •   lunch and learn programs •   events recognizing specific employee contributions • Most successful Whole Life Challenge™ in Company history, with 65% participation1   Our Board of Directors is committed to strong corporate governance. Our governance framework is designed to promote the long-term interests of our stockholders and strengthen Board and management accountability. CORPORATE GOVERNANCE WHAT WE DO Director Nominees (page 6)   ✓ MUTA Opt Out. We have opted out of the provisions of Subtitle 8 of the Maryland General Corporation Law (often referred to as the Maryland Unsolicited Takeovers Act (“MUTA”)) and are prohibited from opting back into any of the MUTA provisions, including the provision allowing the Board to self-classify, without stockholder approval. Name   Age   Director Since   Occupation   Independent   Committee Memberships   Other Public Company Boards Peggy Alford   49   2018   Executive Vice President, Global Sales, PayPal   ✓   Audit (Chair)   Facebook, Inc. John H. Alschuler   73   2015   Chairman of HR&A Advisors, Inc.   ✓   Audit; Nominating and Corporate Governance   SL Green Realty Corporation and Xenia Hotels and Resorts, Inc. Eric K. Brandt   58   2018   Retired Executive Vice President and Chief Financial Officer of Broadcom Corporation   ✓   Compensation   NortonLifeLock Inc.; Dentsply Sirona Inc. and Lam Research Corporation Edward C. Coppola   66   1994   President of our Company       None   None Steven R. Hash   56   2015   Retired, Co-Founder Renaissance Macro Research, LLC   ✓   Executive (Chair); ex officio on other standing committees   Alexandria Real Estate Equities, Inc. and Nuveen Global Cities REIT, Inc. Daniel J. Hirsch   47   2018   Chief Operating Officer and Chief Financial Officer, Cascade Acquisition Corporation   ✓   Compensation; Nominating and Corporate Governance   Broadmark Realty Capital Inc. Diana M. Laing   66   2003   Retired Interim Chief Financial Officer and Executive Vice President, Alexander & Baldwin, Inc.   ✓   Nominating and Corporate Governance   Alexander & Baldwin, Inc.; Spirit Realty Capital, Inc. and CareTrust Thomas E. O’Hern   65   2018   Chief Executive Officer of our Company       Executive   Douglas Emmett, Inc. Steven L. Soboroff   72   2014   Managing Partner, Soboroff Partners; and Vice President, Los Angeles Police Commission   ✓   Audit; Compensation; Nominating and Corporate Governance (Chair)   None Andrea M. Stephen   56   2013   Retired Executive Vice President, Investments, The Cadillac Fairview Corporation Limited   ✓   Compensation (Chair); Executive   First Capital Real Estate Investment Trust and Slate Grocery Real Estate Investment Trust 1 The Whole Life Challenge™ is a six-week health and wellness challenge that we sponsor for employees.   ✓ No Poison Pill. No Stockholder Rights Plan in effect. ✓ Annual Election of Directors. Our Board consists of a single class of directors who stand for election each year. ✓ Majority Voting Standard for Directors with Director Resignation Policy. Our Bylaws include a majority voting standard for the election of directors. Any incumbent director who fails to receive the required vote forre-election must offer to resign from our Board of Directors. ✓ Independent Board. Currently eight of our ten directors are independent and all members serving on our Audit, Compensation and Nominating and Corporate Governance Committees are independent. ✓ Proxy Access. Our Bylaws include proxy access nominating provisions. ✓ Bylaws Access.Our Bylaws permit stockholder-proposed bylaw amendments. ✓ Executive Sessions of our Board. An executive session of independent directors is held following each regularly-scheduled Board meeting. ✓ Independent Chairman. As of our 2018 annual meeting, our Lead Director transitioned to Independent Chairman, and continues to ensure strong, independent leadership and oversight of our Board of Directors by, among other things, presiding at all meetings of our Board and calling and presiding at executive sessions of thenon-management directors. ✓ Board Evaluations. Our Nominating and Corporate Governance Committee oversees annual evaluations of our Board and its committees, including separate committee self-evaluations. ✓ Regular Succession Planning. A high priority is placed on regular and thoughtful succession planning for our senior management. ✓ Risk Oversight by Full Board and Committees. A principal function of our Board is to oversee risk assessment and risk management related to our business. Oversight for specific areas of risk exposure is delegated to our Board committees. ✓ Code of Ethics. A robust code of ethics is in place for our directors, officers and employees and a supplementary code of ethics is in place specifically for our Chief Executive Officer and senior financial officers. ✓ Sustainability. We strive to conduct our business in a socially responsible manner that balances consideration of environmental and social issues with creating long-term value for our Company and our stockholders. ✓ No Over-boarding. Our written governance policy limits director membership on other public company boards subject to the discretion of our Board. ✓ Stockholder-requested Meetings. Our Bylaws permit stockholders to request the calling of special meetings of stockholders. ✓ Board Refreshment and Diversity. We have a commitment to Board refreshment and diversity—we have refreshed a majority of our Board since 2014 and in 2019 women represent thirty percent of our director nominees. When selecting nominees our Board focuses on increasing various aspects of our Board’s diversity. In addition, six of our current directors have joined our Board sincemid-2015. 2019 PROXY STATEMENT    v 2021 PROXY STATEMENT    iii PROXY STATEMENT SUMMARY Say-on-Pay Vote (page 66) We retain an open line of communication with our investors on our compensation programs as well as our governance practices. At our 2020 annual meeting of stockholders, our stockholders approved our say-on-paynon-binding, advisory vote by over 95% of the votes cast. Please review our Compensation Discussion and Analysis beginning on page 30 and the accompanying executive compensation tables beginning on page 50 for additional details about our executive compensation program, including information about our named executive officers’ 2020 compensation. Charter Amendment to Increase the Number of Authorized Shares of Common Stock (page 67) We are asking our stockholders to approve an amendment to our charter to increase the number of authorized shares of Common Stock. Our Board of Directors has determined that it is advisable and in the best interests of the Company and our stockholders to amend our charter in order to have available on a timely basis additional authorized but unissued shares of Common Stock in an amount adequate to provide for our future needs. Amendment and Restatement of our Employee Stock Purchase Plan (page 68) We are asking our stockholders to approve the amendment and restatement of our Employee Stock Purchase Plan (“ESPP”), which was originally approved by our stockholders on May 28, 2003. We believe that our ESPP has helped and will continue to help our Company to retain and motivate our employees and to further align their interests with those of our stockholders. Ratification of our Independent Registered Public Accounting Firm (page 72) We are asking our stockholders to consider and vote upon the ratification of the appointment of KPMG LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2021. Executive Compensation Program Highlights (page 30) Our executive compensation program is designed to align our executive compensation with long-term stockholder interests as described in our Compensation Discussion and Analysis beginning on page 30. THE MACERICH COMPANY 401 WILSHIRE BOULEVARD SUITE 700 SANTA MONICA, CALIFORNIA 90401(Name of Registrant as Specified In Its Charter)     (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): PROXY STATEMENT☒   No fee required. FOR 2019 ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON JUNE 7, 2019☐   Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.   (1)      Title of each class of securities to which transaction applies:   We are sending you this Proxy Statement in connection(2)      Aggregate number of securities to which transaction applies: (3)      Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): (4)      Proposed maximum aggregate value of transaction: (5)      Total fee paid: ☐   Fee paid previously with the solicitation of Proxies by our Board of Directors for exercise at our 2019 Annual Meeting of Stockholders and atpreliminary materials. ☐   Check box if any postponement or adjournment thereof. We are first providing this Proxy Statement and the accompanying Notice of Annual Meeting of Stockholders and Proxy to our stockholders on or about April 26, 2019. Our 2018 Annual Report to Stockholders (“2018 Annual Report”), including financial statements for the fiscal year ended December 31, 2018, is being provided to stockholders concurrently with this Proxy Statement. Our 2018 Annual Report, however, is not part of the proxy solicitation material. We sometimes refer to The Macerich Companyfee is offset as our “Company,” “Macerich,” “we”provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or “us”the Form or Schedule and to our 2019 Annual Meetingthe date of Stockholders, including any postponementits filing. (1)      Amount Previously Paid: (2)      Form, Schedule or adjournment thereof, as our “Annual Meeting.”Registration Statement No.: Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting to be Held on June 7, 2019. The Notice of the 2019 Annual Meeting, this Proxy Statement and our 2018 Annual Report are available atwww.proxyvote.com. (3)      Filing Party: ABOUT OUR ANNUAL MEETING (4)      Date Filed: Why did I receive a Notice of Internet Availability of Proxy Materials instead of paper copies of the Proxy materials? This year, we are again using the Securities and Exchange Commission or “SEC” notice and access rule that allows us to furnish our Proxy materials over the Internet to our stockholders instead of mailing paper copies of those materials to each stockholder. This allows us to provide our stockholders with the information they need, while lowering the costs of delivery and reducing the environmental impact of our Annual Meeting. Beginning on or about April 26, 2019, we mailed to most of our stockholders a Notice of Internet Availability of Proxy Materials or “Notice” containing instructions on how to access our Proxy materials over the Internet and authorize your Proxy online. This Notice is not a Proxy and cannot be used to vote your shares. If you received only a Notice this year, you will not receive paper copies of the Proxy materials unless you request the materials by following the instructions on the Notice or on the website referred to on the Notice. We mailed to some of our stockholders, including stockholders who have previously requested paper copies of the Proxy materials and some of our stockholders who are participants in our benefit plans, paper copies of the Proxy materials instead of a Notice. If you own shares of our common stock, $0.01 par value per share, referred to as “Common Stock,” in more than one account—for example, in a joint account with your spouse and in your individual brokerage account—you may have received more than one Notice or more than one set of paper Proxy materials. To vote all of your shares by Proxy, please follow each of the separate Proxy voting instructions that you received for your shares of Common Stock held in each of your different accounts. When and where is our Annual Meeting? Our Annual Meeting will be held on Friday, June 7, 2019 The Macerich Company April 29, 2021 Dear Fellow Stockholders: You are cordially invited to attend our 2021 Annual Meeting of Stockholders to be held on Friday, May 28, 2021 at 10:00 a.m. local time at The Fairmont Miramar Hotel, 101 Wilshire Boulevard, Santa Monica, California 90401. The accompanying Notice and Proxy Statement contain details concerning the matters to be considered during our Annual Meeting. At our Annual Meeting, you will be asked to consider and vote on the following matters: (1) election of the ten directors named in the accompanying Proxy Statement; (2) approval, on a non-binding, advisory basis, of the compensation of our named executive officers as described in the accompanying Proxy Statement; (3) approval of an amendment to our charter to increase the number of authorized shares of common stock; (4) approval of the amendment and restatement of our Employee Stock Purchase Plan; (5) ratification of the appointment of KPMG LLP as our independent registered public accounting firm; and (6) the transaction of such other business as may properly come before our Annual Meeting and any postponement or adjournment thereof. Our Board of Directors unanimously recommends that you vote your shares: “FOR” the election of the ten directors named in the accompanying Proxy Statement; “FOR” the approval of the compensation of our named executive officers as described in the accompanying Proxy Statement; “FOR” the approval of the amendment to our charter to increase the number of authorized shares of common stock; “FOR” the approval of the amendment and restatement of our Employee Stock Purchase Plan; and “FOR” the ratification of the appointment of KPMG LLP as our independent registered public accounting firm. On or about April 29, 2021, we mailed to our stockholders copies of our Proxy Statement and 2020 Annual Report to Stockholders. We look forward to seeing you at our Annual Meeting and thank you for your continued support. We are actively monitoring the coronavirus (COVID-19) situation and are sensitive to the public health and travel concerns our stockholders may have and the protocols that federal, state, and local governments may impose. Given that we do not know when the restrictions imposed as a result of COVID-19 will be relaxed, this year we must reserve the right to notify you in the future that our Annual Meeting will instead be held solely by remote communication (a virtual meeting). Your vote is important. Whether or not you plan to attend our Annual Meeting, we urge you to submit your Proxy to ensure your shares are represented and voted at our Annual Meeting. If you attend our Annual Meeting, you may continue to have your shares voted as instructed on your Proxy or you may withdraw your Proxy at the meeting and vote your shares in person by following the instructions for doing so in the accompanying Proxy Statement. Thomas E. O’Hern Chief Executive Officer Steven R. Hash Chairman of the Board THE MACERICH COMPANY 401 WILSHIRE BOULEVARD SUITE 700 SANTA MONICA, CALIFORNIA 90401 NOTICE OF THE 2021 ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON MAY 28, 2021 NOTICE IS HEREBY GIVEN that the 2021 Annual Meeting of Stockholders (the “Annual Meeting”) of The Macerich Company, a Maryland corporation (the “Company”), will be held on Friday, May 28, 2021 at 10:00 a.m. local time at The Fairmont Miramar Hotel, 101 Wilshire Boulevard, Santa Monica, California 90401, to consider and vote upon: (1) the election of ten directors, each to serve until the next annual meeting of stockholders and until his or her successor is duly elected and qualifies; (2) the approval, on a non-binding, advisory basis, of the compensation of our named executive officers as described in the accompanying Proxy Statement; (3) the approval of an amendment to our charter to increase the number of authorized shares of common stock; (4) the approval of the amendment and restatement of our Employee Stock Purchase Plan; (5) the ratification of the appointment of KPMG LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2021; and (6) the transaction of such other business as may properly come before our Annual Meeting and any postponement or adjournment thereof. Action may be taken on the foregoing matters at our Annual Meeting on the date specified above, or on any date or dates to which our Annual Meeting may be postponed or adjourned. Only stockholders of record of our common stock at the close of business on March 22, 2021 will be entitled to notice of, and to vote at, our Annual Meeting. We are actively monitoring the coronavirus (COVID-19) situation, and we are sensitive to the public health and travel concerns our stockholders may have and the protocols that federal, state and local governments may impose. As part of our precautions regarding COVID-19, we are planning for the possibility that we may hold a virtual annual meeting, in which participation would be solely by means of remote communication. In the event it is not possible or advisable to hold our Annual Meeting in person, or at the current noted location, we will announce alternative arrangements, including how to participate, in a press release available at www.macerich.com as promptly as practicable before our Annual Meeting and file such information as additional proxy materials with the Securities and Exchange Commission. Please monitor our website www.macerich.com for updated information. If you are planning to attend our Annual Meeting, please check the website ten days prior to the meeting date. Your vote is important. Whether or not you plan to attend our Annual Meeting, we urge you to submit your Proxy to ensure your shares are represented and voted at our Annual Meeting. If you attend our Annual Meeting, you may continue to have your shares voted as instructed on your Proxy or you may withdraw your Proxy at the meeting and vote your shares in person by following the instructions for doing so in our Proxy Statement. Record stockholders may authorize their Proxies: By Internet: Go to the website address shown on your Proxy. By Toll-Free Telephone: If you received a printed set of Proxy Materials by mail, you may call the toll-free number shown on your Proxy and follow the recorded instructions. By Mail: If you received a printed set of Proxy Materials by mail, you may mark, sign, date and promptly return the enclosed Proxy in the postage-paid envelope. Beneficial stockholders: If your shares of common stock are held by a bank, broker or other nominee, please follow the instructions you receive from your bank, broker or other nominee on how to authorize voting of your shares of common stock at our Annual Meeting. By Order of the Board of Directors Ann C. Menard Secretary Santa Monica, California April 29, 2021 TABLE OF CONTENTS Proxy Statement Summary i About Our Annual Meeting 1 Proposal 1: Election of Directors 5 Information Regarding Director Nominees 6 Corporate Governance 12 Compensation of Non-Employee Directors 23 Executive Officers 26 Equity Ownership of Directors, Named Executive Officers and Principal Stockholders 27 Executive Officer Biographical Information 29 Compensation Committee Report 30 Compensation Discussion And Analysis 30 Executive Summary 31 Executive Compensation 50 Summary Compensation Table—Fiscal Years 2018-2020 50 Grants of Plan-Based Awards—Fiscal 2020 54 Discussion of Summary Compensation and Grants of Plan-Based Awards Table 54 Outstanding Equity Awards at December 31, 2020 56 Option Exercises and Stock Vested—Fiscal 2020 57 Nonqualified Deferred Compensation—Fiscal 2020 57 Potential Payments Upon Termination or Change in Control 58 CEO Compensation Pay Ratio 62 Equity Compensation Plan Information 62 Compensation Committee Interlocks and Insider Participation 63 Audit Committee Matters 63 Report of the Audit Committee 64 Principal Accountant Fees and Services 64 Audit Committee Pre-Approval Policy 65 Proposal 2: Non-Binding Advisory Vote to Approve the Compensation of our Company’s Named Executive Officers 66 Proposal 3: Amendment to our Charter to Increase the Number of Authorized Shares of Common Stock 67 Proposal 4: Amendment and Restatement of our Employee Stock Purchase Plan 68 Summary of Our ESPP 68 Federal Income Tax Consequences of Our ESPP 70 Securities Underlying Awards 70 Specific Benefits 71 Dilution Analysis 71 Vote Required and Recommendation 71 Proposal 5: Ratification of the Appointment of KPMG LLP as our Company’s Independent Registered Public Accounting Firm 72 Independent Registered Public Accounting Firm 72 Additional Matters 73 Solicitation of Proxies 73 Stockholder Proposals and Director Nominees 73 Householding of Proxy Materials 73 Delinquent Section 16(a) Reports 74 Other Matters 74 Forward-Looking Information 74 Appendix A: Amendment to our Charter A-1 Appendix B: Amendment and Restatement of our Employee Stock Purchase Plan B-i PROXY STATEMENT SUMMARY This summary highlights information contained elsewhere in our Proxy Statement. This summary does not contain all of the information that you should consider, and you should read the entire Proxy Statement carefully before voting or authorizing a proxy to vote your shares. Page references are supplied to help you find further information in our Proxy Statement. Our Annual Meeting TIME AND DATE: 10:00 a.m. local time on Friday, May 28, 2021 PLACE: The Fairmont Miramar Hotel 101 Wilshire Boulevard Santa Monica, California 90401. RECORD DATE: Close of business on March 22, 2021 Voting Each share of our common stock, par value $0.01 per share (“Common Stock”), entitles the holder thereof to one vote for each director nominee and one vote on each of the other proposals to be voted upon at our Annual Meeting. You may vote or authorize a proxy to vote by any of the following methods: WhatInternet: Go to the website address shown on your Proxy until 11:59 p.m., Eastern Time, the day before the Annual Meeting. Telephone: Call the toll-free number shown on your Proxy and follow the recorded instructions. The deadline for submitting your Proxy by telephone is 11:59 p.m., Eastern Time, the purposeday before the Annual Meeting. Mail: Mark, sign, date and return your Proxy in the postage-paid envelope promptly so that it is received prior to the Annual Meeting. In Person: If you are a stockholder of record, you may vote in person by attending the Annual Meeting. If your shares are held in street name, you will need to obtain a “legal proxy” from your broker, bank or other nominee and present it at the Annual Meeting prior to voting in person. About Our Annual Meeting (page 1) We provide answers to many questions about our Annual Meeting, including how to vote your shares, in our Q&A section beginning on page 1 of our Proxy Statement. Proposals and Board Recommendations   Proposal Board Recommendation Page Reference   Proposal 1 Election of Ten Directors For all nominees   5     Proposal 2 Advisory Vote to Approve our Named Executive Officer Compensation For 66     Proposal 3 Amendment to our Charter to Increase the Number of Authorized Shares of Common Stock For 67     Proposal 4 Amendment and Restatement of our Employee Stock Purchase Plan For 68     Proposal 5 Ratification of the Appointment of KPMG LLP as our Independent Registered Public Accounting Firm for the Fiscal Year Ending December 31, 2021 For 72   Transaction of any other business that properly comes before our Annual Meeting and any postponement or adjournment thereof 2021 PROXY STATEMENT    i PROXY STATEMENT SUMMARY Our Business Highlights (page 31) OPERATIONAL ACHIEVEMENTS: • Rent collections, which had dipped to approximately 35% in April and May, improved as the year progressed with collection rates of approximately 89% in the third quarter and approximately 94% in the fourth quarter • Average rent per square foot was $61.87 at December 31, 2020, representing a 1.3% increase over 2019 • Instituted extensive COVID-19 related protocols, including, among others, upgrading ventilation systems to hospital-grade air filtration, enhanced cleaning and sanitization protocols, compliance with mask-wearing mandates, social distance, customer queueing and path of travel protocols • Secured the stringent, highly regarded Bureau Veritas SafeGuard™ Hygiene Excellence and Safety Certification during 2020 and in early 2021 LEASING ACHIEVEMENTS: • Of our approximately 200 national tenants, we have received payment from and/or agreed to repayment terms for approximately 96% of those tenants, based on gross rent • Negotiated thousands of COVID-19 workout lease amendments, including over 2,200 amendments during the fourth quarter alone • Opened 173 new stores totaling over 875,000 square feet • Maintained a strong leasing pipeline for 2021 new store openings totaling approximately 900,000 square feet • Secured commitments for 70% of leased square footage expiring in 2021, and are negotiating letters of intent for the remaining 30% • Executed leases totaling approximately 900,000 square feet during the fourth quarter, only 8% less than pre-COVID-19 levels during the fourth quarter of 2019 • Secured 1,200 temporary in-line lease agreements occupying nearly 1.9 million square feet by year end, with over 800 temporary tenants during the holiday season, matching the 2019 temporary occupancy levels COMMUNITY OUTREACH ACHIEVEMENTS: During 2020, our Company engaged in many community initiatives, including: • Made our real estate available for and hosted many essential functions, such as drive-through COVID-19 testing and vaccination facilities, food drives and first responder parking, and for community activities, such as drive through graduation ceremonies, church services and drive-in concerts and movies • Donated over 1.4 million meals to support local food banks • Continued to support charities in the communities in which we do business, including providing needed supplies for first responders • Participated in marketing campaigns with the use of billboards and other media at our regional shopping centers and our community/power shopping centers (the “Centers”) for stay-at-home campaigns, healthy hygiene protocols and blood drives • Donated iPads to hospitals for use by patients requiring connection to family and friends • Donated over 500 laptops to schools in New York, California and Arizona to support disadvantaged students with online learning ENVIRONMENTAL/ SUSTAINABILITY ACHIEVEMENTS: • #1 Global Real Estate Sustainability Benchmark (“GRESB”) ranking within Retail/Americas for the sixth consecutive year • Top Ranking on CDP Climate ‘A’ List for the fifth year • One of five REITs designated as sector leaders on Barron’s list of America’s Most Sustainable Companies announced in 2020 • Retail “Leader in the Light” Environmental Award for years 2016-2019 from Nareit • Environmental Protection Agency’s Green Power Partnership List of Top 30 On-Site Generation Companies ii    2021 PROXY STATEMENT PROXY STATEMENT SUMMARY EMPLOYEE ENGAGEMENT/ CULTURE ACHIEVEMENTS: • Retention of key talent during this very challenging year • No layoffs or furloughs • Development of diversity, equity and inclusion programming, referred to internally as the DREAM initiative • Provided guidance and resources to employees to assist with the challenges and disruptions created by COVID-19, including: •   information on childcare and eldercare resources, •   mental health and wellness programs •   individualized assistance through Macerich’s robust Employee Assistance Program •   technology upgrades to assist in remote work •   providing laptops to employees to assist families and children with remote learning • Regular employee engagement programming such as: •   video meetings with various operational teams with guest executive speakers •   regular newsletters to our employee population •   lunch and learn programs •   events recognizing specific employee contributions • Most successful Whole Life Challenge™ in Company history, with 65% participation1 Director Nominees (page 6) Name   Age   Director Since   Occupation   Independent   Committee Memberships   Other Public Company Boards Peggy Alford   49   2018   Executive Vice President, Global Sales, PayPal   ✓   Audit (Chair)   Facebook, Inc. John H. Alschuler   73   2015   Chairman of HR&A Advisors, Inc.   ✓   Audit; Nominating and Corporate Governance   SL Green Realty Corporation and Xenia Hotels and Resorts, Inc. Eric K. Brandt   58   2018   Retired Executive Vice President and Chief Financial Officer of Broadcom Corporation   ✓   Compensation   NortonLifeLock Inc.; Dentsply Sirona Inc. and Lam Research Corporation Edward C. Coppola   66   1994   President of our Company       None   None Steven R. Hash   56   2015   Retired, Co-Founder Renaissance Macro Research, LLC   ✓   Executive (Chair); ex officio on other standing committees   Alexandria Real Estate Equities, Inc. and Nuveen Global Cities REIT, Inc. Daniel J. Hirsch   47   2018   Chief Operating Officer and Chief Financial Officer, Cascade Acquisition Corporation   ✓   Compensation; Nominating and Corporate Governance   Broadmark Realty Capital Inc. Diana M. Laing   66   2003   Retired Interim Chief Financial Officer and Executive Vice President, Alexander & Baldwin, Inc.   ✓   Nominating and Corporate Governance   Alexander & Baldwin, Inc.; Spirit Realty Capital, Inc. and CareTrust Thomas E. O’Hern   65   2018   Chief Executive Officer of our Company       Executive   Douglas Emmett, Inc. Steven L. Soboroff   72   2014   Managing Partner, Soboroff Partners; and Vice President, Los Angeles Police Commission   ✓   Audit; Compensation; Nominating and Corporate Governance (Chair)   None Andrea M. Stephen   56   2013   Retired Executive Vice President, Investments, The Cadillac Fairview Corporation Limited   ✓   Compensation (Chair); Executive   First Capital Real Estate Investment Trust and Slate Grocery Real Estate Investment Trust 1 The Whole Life Challenge™ is a six-week health and wellness challenge that we sponsor for employees. 2021 PROXY STATEMENT    iii PROXY STATEMENT SUMMARY Say-on-Pay Vote (page 66) We retain an open line of communication with our investors on our compensation programs as well as our governance practices. At our 2020 annual meeting of stockholders, our stockholders approved our say-on-paynon-binding, advisory vote by over 95% of the votes cast. Please review our Compensation Discussion and Analysis beginning on page 30 and the accompanying executive compensation tables beginning on page 50 for additional details about our executive compensation program, including information about our named executive officers’ 2020 compensation. Charter Amendment to Increase the Number of Authorized Shares of Common Stock (page 67) We are asking our stockholders to approve an amendment to our charter to increase the number of authorized shares of Common Stock. Our Board of Directors has determined that it is advisable and in the best interests of the Company and our stockholders to amend our charter in order to have available on a timely basis additional authorized but unissued shares of Common Stock in an amount adequate to provide for our future needs. Amendment and Restatement of our Employee Stock Purchase Plan (page 68) We are asking our stockholders to approve the amendment and restatement of our Employee Stock Purchase Plan (“ESPP”), which was originally approved by our stockholders on May 28, 2003. We believe that our ESPP has helped and will continue to help our Company to retain and motivate our employees and to further align their interests with those of our stockholders. Ratification of our Independent Registered Public Accounting Firm (page 72) We are asking our stockholders to consider and vote upon the ratification of the appointment of KPMG LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2021. Executive Compensation Program Highlights (page 30) Our executive compensation program is designed to align our executive compensation with long-term stockholder interests as described in our Compensation Discussion and Analysis beginning on page 30. EXECUTIVE COMPENSATION WHAT WE DO ✓ Pay for Performance. Executive compensation is heavily weighted toward “at risk” performance-based compensation. For our Chief Executive Officer, over 85% of his target compensation is contingent on our Company’s operating and stock performance. For our other named executive officers, 80% of their respective average target compensation depends on our Company’s operating and stock performance. ✓ Performance-Based Compensation. For both our Chief Executive Officer and President, 75% of their long-term incentive equity awards are in the form of performance-based LTIP Unit awards, which are subject to vesting based on our relative total stockholder return (“TSR”) compared to U.S.-based publicly-traded equity real estate investment trusts (“REITs”) that are categorized as “mall” or “shopping center” REITs. For our other named executive officers, 50% of their long-term incentive equity awards are in the form of performance-based LTIP Unit awards. Relative total stockholder return performance is measured over a three-year period. ✓ “Double-Trigger” Equity Vesting. Our equity awards are subject to double-trigger vesting acceleration in connection with a change in control. iv    2021 PROXY STATEMENT PROXY STATEMENT SUMMARY ✓ Robust Stock Ownership Guidelines. Our Chief Executive Officer is required to own Common Stock or any class of our equity securities or units of The Macerich Partnership, L.P. (our “Operating Partnership”) with a value equal to 6x his base salary and our other named executive officers are required to own Common Stock or any class of our equity securities or units of our Operating Partnership with a value equal to 3x their respective base salaries. ✓ Holding Period. Until the minimum required stock ownership level is achieved, our named executive officers must retain 50% of the net-after-tax profit shares from vesting of equity compensation awards. ✓ Clawback Policy. We maintain a clawback policy to recapture certain cash and equity incentive payments to executive officers that were based on inaccurate financial results that are subsequently restated, if the amount of the executive officer’s incentive compensation would have been lower had the financial results been properly reported. ✓ Independent Compensation Consultant. The Compensation Committee engages an independent compensation consulting firm that provides us with no other services. ✓ Annual Say-on-Pay. We annually submit our executive compensation program for our named executive officers to say-on-pay advisory votes for stockholder consideration. WHAT WE DON’T DO Î No Excessive Risk Taking. Our compensation program does not encourage excessive risk taking by participants. Î No Excise Tax Gross-Up Provisions. None of our agreements provides for excise tax gross-ups. Î No Repricing. We do not permit repricing of underwater options or stock appreciation rights (“SARs”) or permit exchange of underwater options or SARs for other awards or cash, without prior stockholder approval. Î Anti-Hedging. We do not allow hedging, monetization transactions, short sales or the purchase and sale of publicly traded options in our securities by any director, officer or employee. Î Anti-Pledging. We do not allow our directors or executive officers to pledge our securities unless they otherwise meet our stock ownership requirements. None of our directors or officers currently pledges our securities. Corporate Governance Highlights (page 12) Our Board of Directors is committed to strong corporate governance. Our governance framework is designed to promote the long-term interests of our stockholders and strengthen Board and management accountability. CORPORATE GOVERNANCE WHAT WE DO ✓ MUTA Opt Out. In 2019 we opted out of the provisions of Title 3, Subtitle 8 of the Maryland General Corporation Law (often referred to as the Maryland Unsolicited Takeovers Act (or “MUTA”)) and are prohibited from opting back into any of the MUTA provisions, including the provision allowing the Board to self-classify, without stockholder approval. ✓ No Poison Pill. No Stockholder Rights Plan in effect. ✓ Annual Election of Directors. Our Board consists of a single class of directors who stand for election each year. ✓ Majority Voting Standard for Directors with Director Resignation Policy. Our Bylaws include a majority voting standard for the election of directors. Any incumbent director who fails to receive the required vote for re-election must offer to resign from our Board of Directors. ✓ Independent Board. Currently eight of our ten directors are independent and all members serving on our Audit, Compensation and Nominating and Corporate Governance Committees are independent. ✓ Proxy Access. Our Bylaws include market-standard proxy access nominating provisions. ✓ Right to Amend our Bylaws. Our Bylaws permit stockholder-proposed bylaw amendments. ✓ Executive Sessions of our Board. An executive session of independent directors is held following each regularly-scheduled Board meeting. 2021 PROXY STATEMENT    v PROXY STATEMENT SUMMARY ✓ Independent Chairman. As of our 2018 annual meeting, our Lead Independent Director transitioned to the role of Independent Chairman, and continues to ensure strong and independent leadership of our Board of Directors by, among other things, presiding at all meetings of our Board and calling and presiding at executive sessions of the non-management directors. ✓ Board Evaluations. Our Nominating and Corporate Governance Committee oversees annual evaluations of our Board and its committees, including separate committee self-evaluations. In addition, the Independent Chairman met individually with each director in 2020 to discuss key Board topics. ✓ Regular Succession Planning. A high priority is placed on regular and thoughtful succession planning for our senior management. ✓ No Over-boarding. Our written governance policy limits director membership on other public company boards subject to the discretion of our Board. ✓ Risk Oversight by Full Board and Committees. A principal function of our Board is to oversee risk assessment and risk management related to our business. Oversight for specific areas of risk exposure is delegated to our Board committees. ✓ Code of Ethics. A robust code of ethics is in place for our directors, officers and employees and a supplementary code of ethics is in place specifically for our Chief Executive Officer and senior financial officers. ✓ Environmental, Social and Governance (“ESG”) Oversight. Our Nominating and Corporate Governance Committee has primary oversight responsibility for our ESG programs, together with a cross-functional management committee to coordinate and communicate on our ESG initiatives. ✓ Stockholder-requested Meetings. Our Bylaws permit stockholders to request the calling of special meetings of stockholders. ✓ Stockholder Engagement. Our Company and Board are committed to regularly engaging with our stockholders on our Company’s governance practices, compensation programs, performance, strategic direction and other key matters. Our Board and management continue to actively engage with our stockholders on an ongoing basis. ✓ Board Refreshment and Diversity. We have a commitment to Board refreshment and diversity—60% of our current directors have been elected to our Board since mid-2015. Additionally, when selecting nominees, our Board focuses on increasing various aspects of our Board’s diversity. Women represent 30% of our director nominees for election at our Annual Meeting and the average age of our director nominees is 60.8 years, with significant age diversification. vi    2021 PROXY STATEMENT THE MACERICH COMPANY 401 WILSHIRE BOULEVARD SUITE 700 SANTA MONICA, CALIFORNIA 90401 PROXY STATEMENT FOR 2021 ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON MAY 28, 2021 We are sending you this Proxy Statement in connection with the solicitation of Proxies by our Board of Directors for exercise at our 2021 Annual Meeting of Stockholders and at any postponement or adjournment thereof. We are first providing this Proxy Statement and the accompanying Notice of Annual Meeting of Stockholders and Proxy to our stockholders on or about April 29, 2021. Our 2020 Annual Report to Stockholders (“2020 Annual Report”), including financial statements for the fiscal year ended December 31, 2020, is being provided to stockholders concurrently with this Proxy Statement. Our 2020 Annual Report, however, is not part of the proxy solicitation material. We sometimes refer to The Macerich Company as our “Company,” “Macerich,” “we” or “us” and to our 2021 Annual Meeting of Stockholders, including any postponement or adjournment thereof, as our “Annual Meeting.” Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting to be Held on May 28, 2021. The Notice of the 2021 Annual Meeting, this Proxy Statement and our 2020 Annual Report are available at www.proxyvote.com. ABOUT OUR ANNUAL MEETING When and where is our Annual Meeting? Our Annual Meeting will be held on Friday, May 28, 2021 at 10:00 a.m. local time at The Fairmont Miramar Hotel, 101 Wilshire Boulevard, Santa Monica, California 90401. We are actively monitoring the coronavirus (COVID-19) situation, and we are sensitive to the public health and travel concerns our stockholders may have and the protocols that federal, state and local governments may impose. As part of our precautions regarding COVID-19, we are planning for the possibility that we may hold a virtual annual meeting, in which participation would be solely by means of remote communication. In the event it is not possible or advisable to hold our Annual Meeting in person, or at the current noted location, we will announce alternative arrangements, including how to participate, in a press release available at www.macerich.com as promptly as practicable before our Annual Meeting and file such information as additional proxy materials with the SEC. Please monitor our website www.macerich.com for updated information. If you are planning to attend our Annual Meeting, please check the website ten days prior to the meeting date. What are the purposes of our Annual Meeting? At our Annual Meeting, our stockholders will consider and vote on the following matters:   (1) the election of ten directors, each to serve until the next annual meeting of stockholders and until his or her successor is duly elected and qualifies;   2019 PROXY STATEMENT    1 ABOUT OUR ANNUAL MEETING (2) the ratification of the appointment of KPMG LLP as our independent registered public accounting firm for the year ending December 31, 2019; and (3) the approval, on anon-binding, advisory basis, of the compensation of our named executive officers as described in this Proxy Statement. In addition, our stockholders will transact any other business that properly comes before our Annual Meeting or any postponement or adjournment thereof. Management will also respond to appropriate questions from our stockholders. Who is entitled to vote? Only holders of record of our Common Stock at the close of business on the record date, March 25, 2019, are entitled to notice of, and to vote at, our Annual Meeting. Holders of Common Stock are entitled to cast one vote for each share held by them on each matter to be voted upon. Our Common Stock is our only class of securities entitled to vote at our Annual Meeting. Under applicable law and our charter, a stockholder is not entitled to cumulative voting rights in the election of our directors. Who is entitled to attend our Annual Meeting? All of our stockholders of record as of the close of business on the record date, or their duly appointed Proxy holders, may attend our Annual Meeting. If you are not a stockholder of record but hold shares through a broker, bank or other nominee, you should provide proof of beneficial ownership as of the record date, such as an account statement reflecting your stock ownership as of the record date, a copy of the voting instruction card provided by your broker, bank or other nominee, or other similar evidence of ownership. If you do not have proof of ownership, you may not be admitted to our Annual Meeting. Each stockholder and Proxy holder may be asked to present a valid government-issued photo identification, such as a driver’s license or passport, before being admitted. Cameras, recording devices and other electronic devices will not be permitted, and attendees may be subject to security inspections and other security precautions. What constitutes a quorum? The presence, in person or by Proxy, of holders entitled to cast a majority of all the votes entitled to be cast at our Annual Meeting is necessary to constitute a quorum for the transaction of business at our Annual Meeting. As of the record date, 141,233,771 shares of Common Stock were outstanding and entitled to be voted by the holders thereof. Abstentions and brokernon-votes will count toward the presence of a quorum. A “brokernon-vote” occurs when a broker holding shares for a beneficial owner returns a properly executed Proxy but does not cast a vote with respect to a particular proposal because the broker does not have discretionary voting power with respect to that matter and has not received voting instructions from the beneficial owner. How do I vote? Voting in Person at our Annual Meeting.    If you are a stockholder of record as of the close of business on the record date and attend our Annual Meeting, you may vote in person. If your shares of Common Stock are held in street name and you wish to vote in person at our Annual Meeting, you will need to obtain and present prior to voting at our Annual Meeting a “legal proxy” from the broker, bank or other nominee through which your shares of Common Stock are held of record. Obtaining a legal proxy usually takes several days. Voting by Proxy for Shares Registered Directly in the Name of the Stockholder.    If you hold your shares of Common Stock in your own name as a holder of record with our transfer agent, Computershare Trust Company, N.A., you may instruct the Proxy holders how to vote your shares of Common Stock in one of the following ways: • Authorize your Proxy by Internet.    You may authorize your Proxy over the Internet. The website for Internet authorization is provided in the Notice or on your Proxy if you received a printed set of Proxy materials. Internet authorization is available 24 hours per day until 11:59 p.m., Eastern Time, the day before our Annual Meeting. In order to authorize your Proxy, you will need to have the control number that appears on the Notice or Proxy you received. • Authorize your Proxy by Telephone.    If you received a printed set of the Proxy materials, you may authorize your Proxy by telephone by calling the toll-free number listed on your Proxy. Telephone authorization is available 24 hours per day until 11:59 p.m., Eastern Time, the day before our Annual Meeting. When you call, please have your Proxy in hand, and you will receive a series of voice instructions which will allow you to instruct your Proxy how to vote your shares of Common Stock. To authorize your Proxy by telephone, you will also need your control number referred to above. 2    2019 PROXY STATEMENT ABOUT OUR ANNUAL MEETING • Submit your Proxy by Mail.    If you received a printed set of the Proxy materials, you may submit your Proxy by mail by marking, signing and dating the Proxy enclosed with the Proxy materials you received and returning it promptly to Broadridge Financial Solutions, Inc. in the postage-paid envelope provided. Voting by Proxy for Shares Held in Street Name.    If your shares of Common Stock are held in street name, you will receive instructions from your broker, bank or other nominee that you must follow in order to instruct how your shares of Common Stock are to be voted at our Annual Meeting. What if I sign and return a Proxy by mail or authorize my Proxy by telephone or the Internet but do not specify how I wish to vote my shares? If you sign and return a Proxy or authorize your Proxy by telephone or the Internet but do not specify how your shares will be voted on one or more matters listed in the Notice of our Annual Meeting, the shares will be voted with respect to such matters as follows: FOR the election of each of the ten nominees for director named in this Proxy Statement;

2021 PROXY STATEMENT    1

ABOUT OUR ANNUAL MEETING

In addition, our stockholders will transact any other business that properly comes before our Annual Meeting and any postponement or adjournment thereof. Management will also respond to appropriate questions from our stockholders.

Who is entitled to vote?

Only holders of record of our Common Stock at the close of business on the record date, March 22, 2021, are entitled to notice of, and to vote at, our Annual Meeting. Holders of Common Stock are entitled to cast one vote for each director nominee and one vote on each of the other proposals to be voted upon at our Annual Meeting. Our Common Stock is our only class of securities entitled to vote at our Annual Meeting. Under applicable law and our charter, stockholders are not entitled to cumulative voting rights in the election of our directors.

Who is entitled to attend our Annual Meeting?

All of our stockholders of record as of the close of business on the record date, or their duly appointed Proxy holders, may attend our Annual Meeting. If you are not a stockholder of record but hold shares through a broker, bank or other nominee and wish to attend the meeting, you should provide proof of beneficial ownership as of the record date, such as an account statement reflecting your stock ownership as of the record date, a copy of the voting instruction form provided by your broker, bank or other nominee, or other similar evidence of ownership. If you do not have proof of ownership, you may not be admitted to our Annual Meeting. Each stockholder and Proxy holder may be asked to present a valid government-issued photo identification, such as a driver’s license or passport, before being admitted. Cameras, recording devices and other electronic devices will not be permitted, and attendees may be subject to security inspections and other security precautions.

What constitutes a quorum?

The presence, in person or by Proxy, of stockholders entitled to cast a majority of all the votes entitled to be cast at our Annual Meeting is necessary to constitute a quorum for the transaction of business at our Annual Meeting. As of the record date, 179,491,992 shares of Common Stock were outstanding and entitled to be voted by the holders thereof. Abstentions and broker non-votes will count toward the presence of a quorum. A “broker non-vote” occurs when there are both routine and non-routine matters on the proxy card and the broker marks a vote on the routine matter (either as instructed by the client or, if not instructed, in the broker’s discretion) and does not vote on the non-routine matters because under the rules of the New York Stock Exchange (“NYSE”) the broker has no voting authority without the client’s instruction.

How do I vote?

Voting in Person at our Annual Meeting.    If you are a stockholder of record as of the close of business on the record date and attend our Annual Meeting, you may vote in person. If your shares of Common Stock are held in street name and you wish to vote in person at our Annual Meeting, you will need to obtain and present prior to voting at our Annual Meeting a “legal proxy” from the broker, bank or other nominee through which your shares of Common Stock are held of record. Obtaining a legal proxy usually takes several days.

Voting by Proxy for Shares Registered Directly in the Name of the Stockholder.    If you hold your shares of Common Stock in your own name as a holder of record with our transfer agent, Computershare Trust Company, N.A., you may instruct the Proxy holders how to vote your shares of Common Stock in one of the following ways:

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ABOUT OUR ANNUAL MEETING

Voting by Proxy for Shares Held in Street Name.    If your shares of Common Stock are held in street name, you will receive instructions from your broker, bank or other nominee that you must follow in order to authorize voting of your shares of Common Stock at our Annual Meeting.

What if I sign and return a Proxy by mail or authorize my Proxy by telephone or the Internet but do not specify how I wish to vote my shares?

If you sign and return a Proxy or authorize your Proxy by telephone or the Internet but do not specify how your shares will be voted on one or more matters listed in the Notice of our Annual Meeting, the shares will be voted with respect to such matters as follows:

FOR the election of each of the ten nominees for director named in this Proxy Statement;

FOR the approval, on a non-binding, advisory basis, of the compensation of our named executive officers;

FOR the approval of an amendment to our charter to increase the number of authorized shares of Common Stock;

FOR the approval of the amendment and restatement of our Employee Stock Purchase Program; and

FOR the ratification of the appointment of KPMG LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2021.

The holders of the Proxy will also have authority to vote in their discretion on any other matter that may be properly brought before our Annual Meeting and any postponement or adjournment thereof.

What does it mean if I receive more than one Proxy?

If you own shares of our Common Stock in more than one account—for example, in a joint account with your spouse and in your individual brokerage account—you may have received more than one set of Proxy materials. To ensure that all of your shares are voted, please follow each of the separate Proxy voting instructions that you received for your shares of Common Stock held in each of your different accounts.

Will other matters be voted on at our Annual Meeting?

It is not anticipated that any matter, other than those set forth in this Proxy Statement, will be presented at our Annual Meeting. If other matters are properly presented, Proxies will be voted by the Proxy holders in their discretion. Stockholder votes will be tabulated by the person appointed to act as inspector of election for our Annual Meeting.

May I change my vote or revoke my Proxy after I return my Proxy?

If you are a stockholder of record as of the record date, you may change your vote or revoke your Proxy before it has been voted at our Annual Meeting by:

Any stockholder of record as of the record date attending our Annual Meeting may vote in person whether or not a Proxy has been previously given, but the presence (without further action) of a stockholder at our Annual Meeting will not constitute revocation of a previously submitted Proxy.

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For shares of Common Stock you hold in street name, you may change your vote by submitting new voting instructions to your broker, bank or other nominee or, if you have obtained a legal proxy from your broker, bank or other nominee giving you the right to vote your shares at our Annual Meeting, by appearing in person and voting at our Annual Meeting.

What are our Board of Directors’ recommendations?

Unless you give other instructions on your Proxy, the persons named as Proxy holders on the Proxy will vote a properly submitted Proxy in accordance with the recommendations of our Board of Directors. Our Board’s recommendations, together with the description of each matter, are set forth in this Proxy Statement. Our Board recommends that you vote your shares:

FOR the election of ten directors, each to serve until the next annual meeting of stockholders and until his or her successor is duly elected and qualifies;

FOR the approval, on a non-binding, advisory basis, of the compensation of our named executive officers;

FOR the approval of an amendment to our charter to increase the number of authorized shares of Common Stock;