<SEC-DOCUMENT>0001181431-13-036049.txt : 20130620
<SEC-HEADER>0001181431-13-036049.hdr.sgml : 20130620
<ACCEPTANCE-DATETIME>20130620173040
ACCESSION NUMBER:		0001181431-13-036049
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20130618
FILED AS OF DATE:		20130620
DATE AS OF CHANGE:		20130620

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DDR CORP
		CENTRAL INDEX KEY:			0000894315
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				341723097
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		3300 ENTERPRISE PARKWAY
		CITY:			BEACHWOOD
		STATE:			OH
		ZIP:			44122
		BUSINESS PHONE:		2167555500

	MAIL ADDRESS:	
		STREET 1:		3300 ENTERPRISE PARKWAY
		CITY:			BEACHWOOD
		STATE:			OH
		ZIP:			44122

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DEVELOPERS DIVERSIFIED REALTY CORP
		DATE OF NAME CHANGE:	19940218

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Otto Alexander
		CENTRAL INDEX KEY:			0001462468

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11690
		FILM NUMBER:		13925247

	MAIL ADDRESS:	
		STREET 1:		C/O KG CURA VERMOGENSVERWALTUNG G.M.B.H.
		STREET 2:		WANDSBEKER STR. 3-7
		CITY:			HAMBURG
		STATE:			2M
		ZIP:			22179
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd384002.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2013-06-18</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000894315</issuerCik>
        <issuerName>DDR CORP</issuerName>
        <issuerTradingSymbol>DDR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001462468</rptOwnerCik>
            <rptOwnerName>Otto Alexander</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>KG CURA VERMOGENSVERWALTUNG G.M.B.H.&amp;CO.</rptOwnerStreet1>
            <rptOwnerStreet2>WANDSBEKER STR. 3-7</rptOwnerStreet2>
            <rptOwnerCity>HAMBURG</rptOwnerCity>
            <rptOwnerState>2M</rptOwnerState>
            <rptOwnerZipCode>22179</rptOwnerZipCode>
            <rptOwnerStateDescription>GERMANY</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Call Option (obligation to sell)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>15.50</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2013-06-18</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>E</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>6810538</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>6810538</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Call Option (obligation to sell)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>15.6016</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2013-06-18</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>6810538</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F4"/>
                <footnoteId id="F5"/>
                <footnoteId id="F6"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F4"/>
                <footnoteId id="F5"/>
                <footnoteId id="F6"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>6810538</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6810538</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On June 18, 2013, the covered call option written by Mr. Alexander Otto (&quot;Mr. Otto&quot;) pursuant to the amended covered call option agreement (the &quot;Amended Covered Call Agreement&quot;), dated October 2, 2012, to cover a period of 10 months, was cancelled and rolled forward into the Second Amended Covered Call Agreement (as defined and discussed in Footnotes 3 and 4). Pursuant to the Amended Covered Call Agreement, Mr. Otto wrote a covered call option with respect to 6,810,538 shares beneficially owned by Mr. Otto, which was separated into 15 separate components containing an aggregate amount of 6,810,538 call options: 14 of which contain 454,035 call options and 1 of which contains 454,048 call options. (Continued to Footnote 2)</footnote>
        <footnote id="F2">(Continued from Footnote 1)  All of the call options under the Amended Covered Call Agreement had an exercise price of $15.50 per share, which was determined on October 2, 2012. The premium per share to Mr. Otto under the Amended Covered Call Agreement was $0.2435, for an aggregate net premium of $1,658,366. (Continued to Footnote 3)</footnote>
        <footnote id="F3">(Continued from Footnote 2) Each of the 14 components containing 454,035 call options would have expired on July 15, 16, 17, 18, 19, 22, 23, 24, 25, 26, 29, 30, and 31 and August 1 of 2013, respectively, and the component containing 454,048 call options would have expired on August 2, 2013 (for each component, the &quot;Amended Expiration Date&quot;).  The call options constituting each component of the covered call option could have been exercised only on the Amended Expiration Date for that component. The underlying shares with respect to the options are pledged by Mr. Otto until such time as the options expire. (Continued to Footnote 4)</footnote>
        <footnote id="F4">(Continued from Footnote 3)On June 18, 2013, Mr. Otto rolled forward the Amended Covered Call Agreement by amending and restating the terms and conditions of the Amended Covered Call Agreement (as amended and restated, the &quot;Second Amended Covered Call Agreement&quot;).  In the Second Amended Covered Call Agreement, the exercise price was increased and the expiration or maturity dates of the call options were extended. The amount of shares subject to the Second Amended Covered Call Agreement remains the same.  Pursuant to the Second Amended Covered Call Agreement, Mr. Otto wrote a covered call option with respect to 6,810,538 shares beneficially owned by Mr. Otto, which is separated into 15 separate components containing an aggregate amount of 6,810,538 call options: 14 of which contain 454,035 call options and 1 of which contains 454,048 call options. (Continued to Footnote 5)</footnote>
        <footnote id="F5">(Continued from Footnote 4)All of the call options under the Second Amended Covered Call Agreement have an exercise price of $15.6016, which was determined on June 18, 2013. There is no premium for Mr. Otto under the Second Amended Covered Call Agreement. (Continued to Footnote 6)</footnote>
        <footnote id="F6">(Continued from Footnote 5) Each of the 14 components containing 454,035 call options expires on August 15, 18, 19, 20, 21, 22, 25, 26, 27, 28 and 29, 2014 and September 2, 3, and 4, 2014, respectively, and the component containing 454,048 call options expires on September 5, 2014 (for each component, the &quot;Second Amended Expiration Date&quot;).  The call options constituting each component of the covered call option may be exercised only on the Second Amended Expiration Date for that component. The underlying shares with respect to the options are pledged by Mr. Otto until such time as the options expire.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ KG CURA Vermogensverwaltung G.m.b.H.&amp;Co., by power of attorney</signatureName>
        <signatureDate>2013-06-20</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
