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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*
Hersh Mitchell E.
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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)
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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 07/98
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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 [X] Officer [ ] 10% Owner [ ] Other
(give title below) (specify below)
President and Chief Operating Officer
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7. Individual or Joint/Group Filing (Check Applicable Line)
X
____ Form filed by One Reporting Person
____ Form filed by More than One Reporting Person
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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>
(over)
* 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.
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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)
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<CAPTION>
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1. Title of Derivative Security 2. Con- 3. Trans- 4. Trans- 5. Number 6. Date Exer-
(Instr. 3) version action action of Deri- cisable and
or Date Code vative Expiration
Exer- (Month (Instr. 8) Secur- Date (Month
cise /Day ities /Day/Year)
Price /Year) Acquired
of (A) or
Deriva- Disposed
tive (D)
Secu- (Instr. 3,
rity 4, and 5)
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Code V (A) (D) Date Expir
Exer- ation
cisable Date
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Units of Limited
Partnership Interest(1) (1) 7/22/98 J(1) 1,652 (1)
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<CAPTION>
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7. Title and Amount of 8. Price of 9. Num- 10. Own- 11. Na-
Underlying Securities Deriva- ber ership ture
(Instr. 3 and 4) tive of Form of
Security Deriva- of Indi-
(Instr. 5) tive Deriva- rect
Securi- tive Bene-
ties Secu- ficial
Benefi- rity: Own-
cially Direct ership
Owned (D) or (Instr.
at End Indirect 4)
of (I)
Month (Instr.
(Instr. 4)
4)
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Title Amount
or
Number
of Shares
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<S> <C> <C> <C> <C> <C>
Common 1,652 46,215(2) D
Stock
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</TABLE>
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 July 22,
1999, the 1,652 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) Beginning on December 11, 1998, 44,563 of the reporting person's 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.
/s/ Mitchell E. Hersh 8/10/98
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**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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