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| FORM 4 | U.S. SECURITIES AND EXCHANGE COMMISSION
+--------+ WASHINGTON, D.C. 20549
[_] Check this box if
no longer subject STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
to Section 16.
Form 4 or Form 5 Filed pursuant to Section 16(a) of the Securities
obligations may Exchange Act of 1934, Section 17(a) of the
continue. See Public Utility Holding Company Act of 1935 or
Instruction 1(b). Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Mack William L.
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(Last) (First) (Middle)
c/o Mack-Cali Realty Corporation
11 Commerce Drive
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(Street)
Cranford, New Jersey 07016
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(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol Mack-Cali Realty Corporation (CLI)
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3. IRS or Identification Number of Reporting Person if an entity
(Voluntary)
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4. Statement for Month/Year 9/98
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[X] Director [ ] Officer [ ] 10% Owner [ ] Other
(give title below) (specify below)
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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
TABLE I--NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
<TABLE>
<CAPTION>
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1. Title 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
of action action or Disposed of (D) Securities ship of In-
Security Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 3) (Month/ (Instr. 8) Owned at Direct Bene-
Day/ ----------------------------------------------- End of (D) or ficial
Year) Month Indirect Owner-
Code V Amount (A) or Price (Instr. 3 and 4) (I) ship
(D) (Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
* If this 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. (Over)
(Print or Type Responses)
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FORM 4 (continued)
TABLE II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
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1. Title of Derivative 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv-
Security (Instr. 3) sion or action tion Code ative Securities
Exercise Date (Instr. 8) Acquired (A) or
Price of (Month/ Disposed of (D)
Deriv- Day/ (Instr. 3, 4, and 5)
ative Year)
Security
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Code V (A) (D)
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<S> <C> <C> <C> <C> <C> <C>
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Units of Limited Partnership 9/4/98 J(1)(2) (1)
Interest (1)(2)
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Units of Limited Partnerhsip
Interest (1)
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Units of Limited Partnership
Interest (1)
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Units of Limited Partnership 9/10/98 J(1) 5,095
Interest (1)
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Units of Limited Partnership 9/10/98 J(1) 5,095
Interest (1)
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Series B Preferred Units 9/10/98 (J)(4) (4)
of Limited Partnership Interest (4)
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Series B Preferred Units of Limited Partnership
Interest (4)
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Series B Preferred Units
of Limited Partnership Interest(4)
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Series B Preferred Units 9/10/98 J 25
of Limited Partnership Interest(4)
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Series B Preferred Units 9/10/98 J 25
of Limited Partnership Interest(4)
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<CAPTION>
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6. Date Exer- 7. Title and Amount of 8. Price 9. Number 10. Owner- 11. Na-
cisable and Underlying Securities of of Deriv- ship ture
Expiration (Instr. 3 and 4) Deriv- ative Form of In-
Date ative Secur- of De- direct
(Month/Day/ Secur- ities rivative Bene-
Year) ity Bene- Secu- ficial
(Instr. ficially rity: Owner-
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Date Expira- Amount or at End (D) or (Instr.
Exer- tion Title Number of of Indi- 4)
cisable Date Shares Month rect (1)
(Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
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(1) Common (1) 860,721(1)(2) D
Stock
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39,494 I William Mack,
Charitable
Trust A
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23,875 I William Mack,
4/30/92
Trust
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(1) Common 5,095 8,338 I Trust
Stock fbo
R. Mack (3)
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(1) Common 5,095 8,338 I Trust
Stock fbo
S. Mack (3)
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(4) Common (4) 46,695(4) D
Stock
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2,534(4) William Mack,
I Charitable
Trust A
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1,492(4) I William Mack,
4/30/92
Trust
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(5) Common (5) 218 I Trust
Stock fbo
R. Mack (3)
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(5) Common (5) 218 I Trust
Stock fbo
S. Mack (3)
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</TABLE>
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Page 2
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Explanation of Responses:
(1) The Units of Limited Partnership Interest ("Units") represent interests in
Mack-Cali Realty, L.P., a Delaware limited partnership, through which Mack-Cali
Realty Corporation conducts its real estate activities. Beginning on December
11, 1998, the Units are redeemable for cash, based upon the fair market value of
an equivalent number of shares of Common Stock at the time of such redemption,
or, at the election of the Company, shares of Common Stock on a one-for-one
basis.
(2) Prior to September 4, 1998, 214,825 of the reporting person's 860,721 Units
beneficially owned at that time were contingent and convertible, in whole or in
part, into ordinary Units upon the satisfaction by December 11, 1999 of certain
conditions relating to certain properties owned by Mack-Cali Realty Corporation.
Until such conversion, the contingent Units shall not be entitled to any rights
associated with the ordinary Units. As of September 4, 1998, the conditions had
been satisfied for the conversion of 38,224 of the reporting person's contingent
Units into ordinary Units. As of September 10, 1998, such conditions had been
satisfied for the conversion of an additional 29,523 contingent Units into
ordinary Units, and accordingly, 147,078 of the reporting persons Units remained
contingent.
(3) These securities are held in a trust, of which the reporting person's wife
is the trustee, for the benefit of the reporting person's adult son who does not
share a household with the reporting person. The securities were acquired by the
trust upon the satisfaction of certain conditions relating to the certain
properties owned by Mack-Cali Realty Corporation. The reporting person disclaims
beneficial ownership of these securities, and this report shall not be deemed an
admission that the reporting person is the beneficial owner of such securities
for purposes of Section 16 or for any other purpose.
(4) The Series B Preferred Units of Limited Partnership Interest (the "Series B
Preferred Units") are immediately convertible into Units. Prior to September 10,
1998, 209 of the reporting person's 46,695 Series B Preferred Units were
contingent and convertible, in whole or in part, into ordinary Series B
* 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. (Over)
(Print or Type Responses)
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Preferred Units upon the satisfaction by December 11, 1999 of certain conditions
relating to certain properties owned by Mack-Cali Realty Corporation. Until such
conversion, the contingent Series Preferred B Units shall not be entitled to any
rights associated with the ordinary Series B Preferred Units. As of September
10, 1998, the conditions had been satisfied for the conversion of 209 of the
reporting person's contingent Series B Preferred Units into ordinary Series B
Preferred Units and, accordingly, none of the reporting person's Series B
Preferred Units remained contingent. Currently, the reporting person's 46,695
ordinary Series B Preferred Units are convertible into 1,347,619 Units, the
2,534 Series B Preferred Units held by the Charitable Trust are convertible into
73,131 Units and the 1,492 Series B Preferred Units held by the 4/30/92 Trust
are convertible into 43,059 Units. Any Units received upon conversion of Series
B Preferred Units shall be redeemable into an equal number of shares of Common
Stock beginning on December 11, 2000.
(5) Currently, the 25 Series B Preferred Units are convertible into 722 Units.
Any Units received upon conversion of Series B Preferred Units shall be
redeemable into an equal number of shares of Common Stock beginning on December
11, 2000.
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/ William L. Mack 11/10/98
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**Signature of Reporting Person Date
* 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)
