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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
[_] CHECK THIS BOX IF NO LONGER
SUBJECT TO SECTION 16. FORM 4
OR FORM 5 OBLIGATIONS MAY
CONTINUE. SEE INSTRUCTION 1(B).
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
1. Name and Address of Reporting Person*
Cali John R.
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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. Issuer Name and Ticker or Trading Symbol
Mack-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
01/98
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5. If Amendment, Date of Original (Month/Year)
02/10/98
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
----- ------
X Officer (give title Other (specify
----- below) ------ below)
Executive Vice President
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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 ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Ownership 7. Nature
(Instr. 3) action action or Disposed of (D) Securities Form: of Indirect
Date Code Beneficially Direct Beneficial
(Instr. 8) (Instr. 3,4 and 5) Owned at (D) or Ownership
(Month/ ------------ -------------------------- End of Month Indirect (Instr. 4)
Day/ Code V Amount (A) or Price (Instr. 3 (I)
Year) (D) and 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 1/16/98 M (1) 24,800 A $17.25 D
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Common Stock 1/16/98 S (1) 24,800 D $39.8874 D
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Common Stock 1/22/98 M (1) 10,000 A $17.25 D
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Common Stock 1/22/98 S (1) 10,000 D $40.00 D
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Common Stock 1/22/98 M (1) 38,000 A $17.25 D
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Common Stock 1/22/98 S (1) 38,000 D 40.1316 55,555 D
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</TABLE>
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
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FORM 4 (CONTINUED)
<TABLE>
<CAPTION>
TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
1. Title of Derivative Security 2. Conversion 3. Transaction 4. Transaction 5. Number of Derivative 6. Date Exercisable
(Instr. 3) or Exercise Date Code Securities Acquired (A) and Expiration
Price of (Month/Day/ (Instr. 8) or Disposed of (D) Date
Derivative Year) (Instr. 3, 4, and 5) (Month/Day/
Security Year)
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Code V (A) (D) Date Expiration
Exer- Date
cisable
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Employee Stock Option
(Right to Buy) $17.25 1/16/98 M 24,800 (2) 8/31/04
- ------------------------------- -------------- -------------- -------- ----- --------------- ---------- -------- ----------
Employee Stock Option
(Right to Buy) $17.25 1/22/98 M 10,000 (2) 8/31/04
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Employee Stock Option
(Right to Buy) $17.25 1/22/98 M 38,000 (2) 8/31/04
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</TABLE>
<TABLE>
<CAPTION>
7. Title and Amount of 8. Price of Derivative 9. Number of Derivative 10. Ownership Form 11. Nature of Indirect
Underlying Securities Security (Instr. 5) Securities Beneficially of Derivative Security: Beneficial Ownership
(Instr. 3 and 4) Owned at End of Month Direct (D) or (Instr. 4)
Instr. 4) Indirect (I) (Instr. 4)
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Title Amount or
Number of
Shares
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<S> <C> <C> <C> <C> <C>
Common
Stock 24,800 D
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Common
Stock 10,000 D
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Common
Stock 38,000 347,495 D
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- ------------ ----------- ---------------------- -------------------------- --------------------------- ------------------------
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</TABLE>
Explanation of Responses:
(1) The reporting person obtained and sold the Common Stock as a result of the
cashless exercise of Employee Stock Options.
(2) On August 31, 1994, the reporting person was granted an option
to purchase 200,000 shares of Common Stock. The option vested in
three equal annual installments beginning August 31, 1995.
/s/ John R. Cali 4/10/98
_______________________________ ______________
**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.
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