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Ackman William A – ‘3’ for 6/5/09 re: GGP, Inc. (fka General Growth Properties Inc. & predecessor to General Growth Properties, Inc.)

On:  Monday, 6/15/09, at 5:05pm ET   ·   For:  6/5/09   ·   As:  Director   ·   Accession #:  1209191-9-32315   ·   File #:  1-11656

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 6/15/09  Ackman William A                  3          Director    1:13K  General Growth Properties Inc.    DONNELLEY FIN… File16/FA

Initial Statement of Beneficial Ownership of Securities by an Insider   —   Form 3   —   SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 3           Initial Statement of Beneficial Ownership of        HTML     13K 
                Securities by an Insider -- c86827_3x0.xml/2.3


        

This ‘3’ Document is an XML Data File that may be rendered in various formats:

  Form 3    –   Plain Text   –  SEC Website  –  EDGAR System  –    XML Data    –  <?xml?> File
 
 
Plain Text rendering:  Initial Statement of Beneficial Ownership of Securities by an Insider
 
                                                                                                                                                                                
Ownership Document
 
Schema Version:  X0203
Document Type:  3
Period of Report:  6/5/09
No Securities Owned:  0
Issuer:
Issuer CIK:  895648
Issuer Name:  GENERAL GROWTH PROPERTIES INC
Issuer Trading Symbol:  GGWPQ
Reporting Owner:
Reporting Owner ID:
Owner CIK:  1056513
Owner Name:  ACKMAN WILLIAM A
Reporting Owner Address:
Owner Street 1:  C/O GENERAL GROWTH PROPERTIES, INC.
Owner Street 2:  110 NORTH WACKER DRIVE
Owner City:  CHICAGO
Owner State:  IL
Owner ZIP Code:  60606
Owner State Description:
Reporting Owner Relationship:
Is Director?  Yes
Is Officer?  No
Is Ten Percent Owner?  No
Is Other?  No
Non-Derivative Table:
Non-Derivative Holding:
Security Title:
Value:  Common Stock
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  23,531,369
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  See footnotes
Footnote ID:  F1
Footnote ID:  F2
Derivative Table:
Derivative Holding:
Security Title:
Value:  Total Return Swap
Footnote ID:  F2
Footnote ID:  F3
Footnote ID:  F4
Conversion or Exercise Price:
Value:  0.49
Exercise Date:
Footnote ID:  F3
Footnote ID:  F4
Expiration Date:
Value:  1/14/11
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  13,000,000
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  See Footnotes
Footnote ID:  F2
Footnote ID:  F3
Footnote ID:  F4
Derivative Holding:
Security Title:
Value:  Total Return Swap
Footnote ID:  F2
Footnote ID:  F3
Footnote ID:  F4
Conversion or Exercise Price:
Value:  0.70
Exercise Date:
Footnote ID:  F3
Footnote ID:  F4
Expiration Date:
Value:  1/31/11
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  7,438,221
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  See Footnotes
Footnote ID:  F2
Footnote ID:  F3
Footnote ID:  F4
Derivative Holding:
Security Title:
Value:  Total Return Swap
Footnote ID:  F2
Footnote ID:  F3
Footnote ID:  F4
Conversion or Exercise Price:
Value:  0.52
Exercise Date:
Footnote ID:  F3
Footnote ID:  F4
Expiration Date:
Value:  12/10/10
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  13,000,000
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  See Footnotes
Footnote ID:  F2
Footnote ID:  F3
Footnote ID:  F4
Derivative Holding:
Security Title:
Value:  Total Return Swap
Footnote ID:  F2
Footnote ID:  F3
Footnote ID:  F4
Conversion or Exercise Price:
Value:  1.58
Exercise Date:
Footnote ID:  F3
Footnote ID:  F4
Expiration Date:
Value:  1/31/11
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  2,561,779
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  See Footnotes
Footnote ID:  F2
Footnote ID:  F3
Footnote ID:  F4
Derivative Holding:
Security Title:
Value:  Total Return Swap
Footnote ID:  F2
Footnote ID:  F3
Footnote ID:  F4
Conversion or Exercise Price:
Value:  1.35
Exercise Date:
Footnote ID:  F3
Footnote ID:  F4
Expiration Date:
Value:  2/16/11
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  12,500,000
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  See Footnotes
Footnote ID:  F2
Footnote ID:  F3
Footnote ID:  F4
Derivative Holding:
Security Title:
Value:  Total Return Swap
Footnote ID:  F2
Footnote ID:  F3
Footnote ID:  F4
Conversion or Exercise Price:
Value:  1.78
Exercise Date:
Footnote ID:  F3
Footnote ID:  F4
Expiration Date:
Value:  1/31/11
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  1,500,000
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  See Footnotes
Footnote ID:  F2
Footnote ID:  F3
Footnote ID:  F4
Derivative Holding:
Security Title:
Value:  Total Return Swap
Footnote ID:  F2
Footnote ID:  F3
Footnote ID:  F4
Conversion or Exercise Price:
Value:  2.12
Exercise Date:
Footnote ID:  F3
Footnote ID:  F4
Expiration Date:
Value:  1/14/11
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  2,000,000
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  See Footnotes
Footnote ID:  F2
Footnote ID:  F3
Footnote ID:  F4
Derivative Holding:
Security Title:
Value:  Total Return Swap
Footnote ID:  F2
Footnote ID:  F3
Footnote ID:  F4
Conversion or Exercise Price:
Value:  1.51
Exercise Date:
Footnote ID:  F3
Footnote ID:  F4
Expiration Date:
Value:  12/10/10
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  2,000,000
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  See Footnotes
Footnote ID:  F2
Footnote ID:  F3
Footnote ID:  F4
Footnotes:
Footnote - F1:  Reflects shares of common stock of the issuer held for the account of Pershing Square, L.P., Pershing Square II, L.P., or Pershing Square International Ltd. (including shares held for the account of its wholly owned subsidiary, PSRH, Inc.) (collectively, the "Pershing Square Funds"). PS Management GP, LLC ("PS Management") is the general partner of Pershing Square Capital Management, L.P. ("Pershing Square"), which acts as investment advisor to the Pershing Square Funds. Pershing Square GP, LLC ("Pershing Square GP") is the general partner of each of Pershing Square, L.P. and Pershing Square II, L.P. By virtue of William A. Ackman's position as managing member of each of PS Management and Pershing Square GP, Mr. Ackman may be deemed to be the beneficial owner of the securities listed in Table I.
Footnote - F2:  Neither the filing of this statement nor anything stated herein shall be deemed an admission that Mr. Ackman is the beneficial owner of any securities covered by the statement. Mr. Ackman disclaims beneficial ownership of of the securities covered by this statement except to the extent of his pecuniary interest therein.
Footnote - F3:  Each of the Pershing Square Funds have entered into various cash-settled total return swaps (each a "Swap") with respect to a notional number of shares of common stock of the issuer as set forth in Table II. Generally, at the expiration date of each Swap (as set forth in Table II) (i) the applicable Pershing Square Fund is obligated to pay the counterparty, in cash, an amount based on the decrease in price of the issuer's shares of common stock from the reference price set forth in Table II, or (ii) the counterparty is obligated to pay the applicable Pershing Square Fund, in cash, an amount based on the increase in price of the issuer's shares of common stock from the reference price set forth in Table II. (continued in Footnote 4)
Footnote - F4:  The Swaps do not give any of the Pershing Square Funds, PS Management, Pershing Square, Pershing Square GP or Mr. Ackman direct or indirect voting, investment or dispositive control over any securities of the issuer and do not require the counterparties thereto to acquire, hold, vote or dispose of any securities of the issuer.
Owner Signature:
Signature Name:  /s/ William A. Ackman
Signature Date:  6/15/09


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