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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3 OMB APPROVAL
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OMB NUMBER: 3235-0104
Expires: April 30, 1997
Estimated average burden
hours per response ...... 0.5
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INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section16(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
1. Name and Address of Reporting Person
CLABBY JAMES
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(Last) (First) (Middle)
C/O MACK-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. Date of Event Requiring Statement (Month/Day/Year)
12/11/97
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3. IRS Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
MACK-CALI REALTY CORPORATION (CLI)
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5. Relationship of Reporting Person to Issuer:
(Check all applicable)
Director 10% Owner
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X Officer (give Other (Specify
----- title below) ------ below)
VICE PRESIDENT
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
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Form filed by More than One Reporting Person
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<TABLE>
<CAPTION>
Table 1 -- Non-Derivative Securities Beneficially Owned
1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect Beneficial Ownership
(Instr. 4) Beneficially Owned Direct (D) or (Instr. 5)
(Instr. 4) Indirect (I)
(Instr. 5)
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<S> <C> <C> <C>
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- -------------------------- --------------------------- ----------------- ------------------------------------------
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
SEC 1473 (8-92)
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FORM 3 (continued)
<TABLE>
<CAPTION>
Table II -- Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security 2. Date Exer- 3. Title and Amount of Securities 4. Conversion 5. Ownership 6. Nature of
cisable and Underlying Derivative Security or Exercise Form of Indirect
Expiration (Instr. 4) Price of Derivative Beneficial
Date Derivative Security: Ownership
(Month Day Security Direct (D) (Instr. 5)
Year) or
------- ------- --------------------------------- Indirect (I)
Date Expira- Amount (Instr. 5)
Exer- tion or
cisable Date Title Number
of
Shares
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<S> <C> <C> <C> <C> <C> <C> <C>
COMMON STOCK WARRANT
(RIGHT TO BUY) (1) 12/12/07 COMMON STOCK 50,000 $38.75 D
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UNITS OF LIMITED
PARTNERSHIP INTEREST (2) (2) COMMON STOCK 7,143 D
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</TABLE>
Explanation of Responses:
(1) The Warrant vests in five equal annual installments beginning on December
31, 1997.
(2) The Units of Limited Partnership ("Units") represent interests in Cali
Realty, L.P., a Delaware limited partnership, through which Mack-Cali Realty
Corporation conducts its real estate activities. The Units shall be
redeemable on a one-for-one basis for shares of Common Stock beginning on
December 11, 1998.
/s/ James Clabby 12/22/97
_______________________________ ______________
**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If
space provided is insufficient,
See Instruction 6 for procedure.
