UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): | November 12, 2007 |
General Growth Properties, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
Delaware | 1-11656 | 42-1283895 |
_____________________ (State or other jurisdiction | _____________ (Commission | ______________ (I.R.S. Employer |
of incorporation) | File Number) | Identification No.) |
110 N. Wacker Drive, Chicago, Illinois | 60606 | |
_________________________________ (Address of principal executive offices) | ___________ (Zip Code) |
Registrant’s telephone number, including area code: | 312.960.5000 |
Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement.
On November 12, 2007, after reviewing certain benchmark data, the Compensation Committee of the Board of Directors of General Growth Properties, Inc. (the "Company") amended the program for the compensation of the non-employee directors of the Company. Effective January 1, 2008, the annual fee paid to the chair of each committee of the Company’s Board of Directors will be increased as follows:
1. The annual fee paid to the chair of the Audit Committee shall be $20,000;
2. The annual fee paid to the chair of the Compensation Committee shall be $10,000; and
3. The annual fee paid to the chair of the Nominating & Governance Committee shall be $5,000.
All other components of the program for the compensation of the non-employee directors of the Company shall remain the same.
SIGNATURES
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.
General Growth Properties, Inc. | ||||
November 13, 2007 | By: | Bernard Freibaum | ||
Name: Bernard Freibaum | ||||
Title: Executive Vice President and Chief Financial Officer |