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F O R M 4
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person
Lefkowitz, Barry
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(Last) (First) (Middle)
c/o Cali Realty Corporation, 11 Commerce Drive
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(Street)
Cranford, NJ 07016
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(City) (State) (Zip)
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2. Issuer Name and Ticker of Trading Symbol
CALI REALTY CORPORATION (CLI)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
--
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4. Statement for Month/Year
March, 1997
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer (Check all applicable)
[ ] Director
[ ] 10% Owner
[X] Officer (give title below)
[ ] Other (specify below)
Chief Financial Officer
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<PAGE>
<TABLE>
<CAPTION>
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TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENFICIALLY OWNED
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1. Title of Security (Instr. 3) 2. Transaction Date 3. Transaction Code 4. Securities Acquired (A)
(Month/Day/Year) (Instr. 8) or Disposed of (D)
(Instr. 3, 4 and 5)
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(A) or
Code V Amount (D) Price
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<S> <C> <C> <C> <C> <C> <C>
Common Stock, par value $.01/share 3/13/97 M 6,667 A $17.25
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Common Stock, par value $.01/share 3/13/97 M 6,667 D $34.4037
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Common Stock, par value $.01/share 3/13/97 M 12,667 A $19.875
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Common Stock, par value $.01/share 3/13/97 M 12,667 D $34.4037
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Common Stock, par value $.01/share 3/13/97 M 7,000 A $21.50
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Common Stock, par value $.01/share 3/13/97 M 7,000 D $34.4037
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</TABLE>
<PAGE>
<TABLE>
<CAPTION>
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TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENFICIALLY OWNED -- Continued
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1. Title of Security (Instr. 3) 5. Amount of Securities 6. Ownership Form: 6. Nature of Indirect
Beneficially Owned Direct (D) or Beneficial
at End of Month Indirect (I) Ownership
(Instr. 4) (Instr. 4) (Instr. 4)
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<S> <C> <C> <C>
Common Stock, par value $.01/share 25,356 D
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</TABLE>
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<TABLE>
<CAPTION>
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TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTION, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security 2. Conversion 3. Transaction Date 4. Transaction Code 5. Number of Derivative
(Instr. 3) Or Exercise (Month/Day/Year) (Instr. 8) Securities Acquired (A)
Price of or Disposed of (D)
Derivative (Instr. 3, 4, and 5)
Security
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Code V (A) (D)
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<S> <C> <C> <C> <C> <C> <C>
Common Stock Option (right to buy) $17.25 3/13/97 M 6,667
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Common Stock Option (right to buy) $19.875 3/13/97 M 12,667
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Common Stock Option (right to buy) $21.50 3/13/97 M 7,000
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</TABLE>
<PAGE>
<TABLE>
<CAPTION>
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TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTION, CONVERTIBLE SECURITIES) -- Continued
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1. Title of Derivative Security 6. Date 7. Title and 8. Price of
(Instr. 3) Exercisable Amount of Derivative
and Underlying Security
Expiration Securities (Instr. 5)
Date (Month/ (Instr. 3
Day/Year) and 4)
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Date Expira- Amount or
Exer- tion Number
cisable Date Title of Shares
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<S> <C> <C> <C> <C> <C>
Common Stock Option (right to buy) 12/31/96 4/20/05 Common Stock, 6,667 (1)
Par value
$.01 per share
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Common Stock Option (right to buy) 12/31/96 12/5/05 Common Stock, 12,667 (1)
Par value
$.01 per share
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Common Stock Option (right to buy) 12/31/96 3/5/06 Common Stock, 7,000 (1)
Par value
$.01 per share
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</TABLE>
(1) Granted without charge pursuant to the Employee Stock Option Plan of Cali
Realty Corporation.
<PAGE>
<TABLE>
<CAPTION>
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TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTION, CONVERTIBLE SECURITIES) -- Continued
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1. Title of Derivative Security 9. Number of Derivative 10. Ownership Form of 11. Nature of Indirect
(Instr. 3) Securities Beneficially Derivative Security: Beneficial
Owned at End of Month Direct (D) or Ownership
(Instr. 4) Indirect (I) (Instr. 4) (Instr. 4)
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<S> <C> <C> <C>
Common Stock Option (right to buy) 37,666 D
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</TABLE>
Explanation of Responses:
X = Exercise
H = Cancelled
/s/Barry Lefkowitz 4/10/97
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Signature of Reporting Person Date
