General Growth Properties, Inc. (Form: 8-K)  

 

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
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(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))

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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.





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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