Filing Details

 

 

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

SCHEDULE 13D

(Rule 13d-101)

Under the Securities Exchange Act of 1934

(Amendment No. 23)*

 

 

SITE Centers Corp.

(Name of Issuer)

Common Shares, par value $0.10 per share

(Title of Class of Securities)

251591103

(CUSIP Number)

David A. Brown

Alston & Bird LLP

950 F Street, N.W.

Washington, DC 20004-1404

202-239-3452

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

September 29, 2021

(Date of Event Which Requires Filing of this Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box  ☐.

 

 

 

*	The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

1		NAME OF REPORTING PERSONS   Alexander Otto
2		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a)  ☐        (b)  ☐
3		SEC USE ONLY
4		SOURCE OF FUNDS (See Instructions)   WC, PF
5		CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)  ☐
6		CITIZENSHIP OR PLACE OF ORGANIZATION   Germany
NUMBER OF SHARES  BENEFICIALLY   OWNED BY EACH REPORTING PERSON WITH				7		SOLE VOTING POWER   21,693,236
				8		SHARED VOTING POWER   0
				9		SOLE DISPOSITIVE POWER   21,693,236
				10		SHARED DISPOSITIVE POWER   0
11		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   21,693,236
12		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)  ☐
13		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)   10.3%*
14		TYPE OF REPORTING PERSON (See Instructions)   IN

 

*	Based on 211,040,251 shares of common stock outstanding as of July 26, 2021 as reported by the issuer in its Form 10-Q filed with the Securities and Exchange Commission on July 29, 2021.

CUSIP No. 251591103		SCHEDULE 13D		Page 3  of 7 Pages

 

1		NAME OF REPORTING PERSONS   Katharina Otto-Bernstein
2		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a)  ☐        (b)  ☐
3		SEC USE ONLY
4		SOURCE OF FUNDS (See Instructions)   WC, PF
5		CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)  ☐
6		CITIZENSHIP OR PLACE OF ORGANIZATION   Germany
NUMBER OF SHARES  BENEFICIALLY   OWNED BY EACH REPORTING PERSON WITH				7		SOLE VOTING POWER   7,877,752
				8		SHARED VOTING POWER   0
				9		SOLE DISPOSITIVE POWER   7,877,752
				10		SHARED DISPOSITIVE POWER   0
11		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   7,877,752
12		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)  ☐
13		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)   3.7%*
14		TYPE OF REPORTING PERSON (See Instructions)   IN

 

*	Based on 211,040,251 shares of common stock outstanding as of July 26, 2021 as reported by the issuer in its Form 10-Q filed with the Securities and Exchange Commission on July 29, 2021.

CUSIP No. 251591103		SCHEDULE 13D		Page 4  of 7 Pages

 

This Amendment No. 23 (Amendment No. 23) amends and supplements the statement on Schedule 13D initially filed on May 15, 2009 (the Original Filing), as amended by Amendment No. 1 filed on August 20, 2009, Amendment No. 2 filed on September 14, 2009, Amendment No. 3 filed on September 18, 2009, Amendment No. 4 filed on February 16, 2010, Amendment No. 5 filed on March 21, 2011, Amendment No. 6 filed on April 26, 2011, Amendment No. 7 filed on April 4, 2012, Amendment No. 8 filed on October 5, 2012, Amendment No. 9 filed on November 21, 2012, Amendment No. 10 filed on June 20, 2013, Amendment No. 11 filed on August 12, 2014, Amendment No. 12 filed on March 5, 2015, Amendment No. 13 filed on May 12, 2015, Amendment No. 14 filed on June 6, 2017, Amendment No. 15 filed on February 27, 2018, Amendment No. 16 filed on April 30, 2018, Amendment No. 17 filed on May 15, 2018, Amendment No. 18 filed on June 26, 2018, Amendment No. 19 filed on January 9, 2019, Amendment No. 20 filed on May 19, 2020, Amendment No. 21 filed on December 18, 2020 and Amendment No. 22 filed on April 28, 2021. Information reported in the Original Filing, as amended, remains in effect except to the extent that it is amended, restated or superseded by information contained in this Amendment No. 23. Capitalized terms used and not defined in this Amendment No. 23 have the meanings set forth in the Original Filing, as amended.

 

Item 4.

Purpose of the Transaction.

On September 28, 2021, the Joinder Agreement, as amended, was terminated as a result of the execution of the Termination Agreement, dated September 28, 2021, by and among Mr. Otto, Katharina Otto-Bernstein and KG CURA Vermögensverwaltung G.m.b.H. & Co. The Termination Agreement terminated the obligations of Mr. Otto and Katharina Otto-Bernstein under the Joinder Agreement. Consequently, Katharina Otto-Bernstein is no longer a party to the Investors Rights Agreement and she ceased to be part of the group formed by the Reporting Persons. Additionally, Katharina Otto-Bernstein does not have any agreement or understanding with other persons to acquire, hold, vote or dispose of Common Shares.

A copy of the Termination Agreement is filed herewith as an exhibit and incorporated herein by reference.

 

Item 5.

Interest in Securities of the Issuer.

Item 5 is hereby amended to add the following:

(a)    Alexander Otto and Katharina Otto-Bernstein may be deemed to beneficially own, in the aggregate, Common Shares, representing 14.0% of the Issuers outstanding Common Shares (based on 211,040,251 Common Shares outstanding as of July 26, 2021 as reported by the Issuer in its Form 10-Q filed with the Securities and Exchange Commission on July 29, 2021).

(b)    With respect to any rights or powers to vote, or to direct the vote of, or to dispose of, or direct the disposition of, the Common Shares referenced in paragraph 5(a), Mr. Otto has sole voting power and sole dispositive power with regard to 21,693,236 Common Shares, and Katharina Otto-Bernstein has sole voting power and sole dispositive power with regard to 7,877,752 Common Shares.

(c)    Other than as set forth below, the Reporting Persons have not effected any transactions in the Common Shares in the last sixty days.

Alexander Otto effected the following transactions in the Common Shares in the past 60 days:

 

Date		Transaction		Amount		Price
08/16/2021		Grant		1,593		$0.00 (1)

 

(1)	Reflects the Issuers grant to the Reporting Person of fully-vested shares of the Issuers Common Shares in accordance with the Issuers director compensation program.

CUSIP No. 251591103		SCHEDULE 13D		Page 5  of 7 Pages

 

Katharina Otto-Bernstein effected the following transactions in the Common Shares in the past 60 days:

 

Date		Transaction		Amount		Price
08/26/2021		Sale		250,000		$15.598 (1)

 

(1)	Reflects the weighted average sale price. The range of prices for the shares sold on August 26, 2021 was $15.510 to $15.745.

(e)    On September 28, 2021, upon the execution of the Termination Agreement, Katharina Otto-Bernstein ceased to be part of the group formed by the Reporting Persons.

 

Item 7.		Material to Be Filed as Exhibits.
Exhibit 1		Joint Filing Agreement, dated June 20, 2013, among Mr. Otto and Katharina Otto-Bernstein, incorporated herein by reference to Exhibit 1 of Schedule 13D/A filed on June 20, 2013
Exhibit 2		Investor Rights Agreement, dated May 11, 2009, between Mr. Otto and Developers Diversified Realty Corporation, incorporated herein by reference to Exhibit 10.1 of Form 8-K filed on May 11, 2009
Exhibit 3		Termination Agreement, dated September 28, 2021, among Mr. Otto, Katharina Otto-Bernstein and KG CURA.

CUSIP No. 251591103		SCHEDULE 13D		Page 6  of 7 Pages

 

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: September 29, 2021

 

 

EXHIBIT INDEX

 

Exhibit 1		Joint Filing Agreement, dated June 20, 2013, among Mr. Otto and Katharina Otto-Bernstein, incorporated herein by reference to Exhibit 1 of Schedule 13D/A filed on June 20, 2013
Exhibit 2		Investor Rights Agreement, dated May 11, 2009, between Mr. Otto and Developers Diversified Realty Corporation, incorporated herein by reference to Exhibit 10.1 of Form 8-K filed on May 11, 2009
Exhibit 3		Termination Agreement, dated September 28, 2021, among Mr. Otto, Katharina Otto-Bernstein and KG CURA.