<PAGE>
<TABLE>
<CAPTION>
- -------- U. S. SECURITIES AND EXCHANGE COMMISSION
FORM 4 WASHINGTON, D.C. 20549
- --------
/ / CHECK THIS BOX IF NO STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
LONGER SUBJECT TO SECTION
16. FORM 4 OR FORM 5 Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
OBLIGATIONS MAY CONTINUE. Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
SEE INSTRUCTION 1(b).
- ------------------------------------------------------------------------------------------------------------------------------------
<S><C>
1. Name and Address of Reporting Person* 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person(s)
to Issuer (Check all applicable)
X Director 10% Owner
Mack William L. Mack-Cali Realty Corporation (CLI) ----- -----
- --------------------------------------------------------------------------------------------- Officer (give Other
(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ----- title ----- (specify
Number of Reporting Month/Year below) below
Person (Voluntary) ----------------- ------------------
c/o Mack-Cali Realty Corporation
11 Commerce Drive 11/98
- -------------------------------------------- --------------------- 7. Individual or Joint/Group Filing
(Street) 5. If Amendment, (Check Applicable Line)
Date of Original X Form filed by One Reporting Person
(Month/Year) ---
Form filed by More than One
Cranford, New Jersey 07016 --- Reporting Person
- ------------------------------------------------------------------------------------------------------------------------------------
(City) (State) (Zip) TABLE I - 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. Owner- 7. Nature
(Instr. 3) action action or Disposed of (D) Securities ship of In-
Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 8) Owned at Direct Bene-
(Month/ End of (D) or ficial
Day/ ------------------------------------------- Month Indirect Owner-
Year) (Instr. 3 (I) ship
Code V Amount (A) or Price and 4) (Instr. 4) (Instr. 4)
(D)
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
* 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)
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 4 (CONTINUED) TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
- ------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative Security 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv- 6. Date Exer-
(Instr. 3) sion or action tion Code ative Securities Ac- cisable and Ex-
Exercise Date (Instr. 8) quired (A) or Dis- piration Date
Price of (Month/ posed of (D) (Month/Day/
Deriv- Day/ (Instr. 3, 4, and 5) Year)
ative Year)
Security
-------------------------------------- --------------------
Date Expira-
Code V (A) (D) Exer- tion
cisable Date
<S><C>
- ------------------------------------------------------------------------------------------------------------------------
Units of Limited 11/25/98 J(1) (1) (1)
Partnership Interest
(1)
- ------------------------------------------------------------------------------------------------------------------------
Units of Limited 11/25/98 J(2) (2) (2)
Partnership Interest (2)
- ------------------------------------------------------------------------------------------------------------------------
Units of Limited 11/25/98 J(2) (2) (2)
Partnership Interest (2)
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- ------------------------------------------------------------------------------------------
7. Title and Amount of Under- 8. Price 9. Number 10. Owner- 11. Nature
lying Securities of of Deriv- ship of In-
(Instr. 3 and 4) Deriv- ative Form direct
ative Securi- of De- Bene-
Secur- ties rivative ficial
ity Bene- Secu- Own-
(Instr. ficially rity: ership
- ------------------------------ 5) Owned Direct (Instr. 4)
at End (D) or
Amount or of Indi-
Title Number of Month rect (I)
Shares (Instr. 4) (Instr. 4)
<S><C>
- ------------------------------------------------------------------------------------------
Common (1) 860,721 D
Stock (1)
- ------------------------------------------------------------------------------------------
Common (2) 148,948(2) I Trust
Stock fbo
R. Mack
(3)
- ------------------------------------------------------------------------------------------
Common (2) 148,948(2) I Trust
Stock fbo
S. Mack
(3)
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
</TABLE>
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, SEE Instruction 6 for procedure.
Page 2
<PAGE>
Explanation of Responses:
<TABLE>
<C> <S>
(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. Prior to
November 25, 1998, 147,078 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 November 25, 1998, the conditions had been satisfied for
the conversion of 78,910 of the reporting person's contingent Units into ordinary Units, and accordingly, 68,168 of the
reporting persons Units remained contingent.
(2) The 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. Prior to November 25, 1998, 4,681 of the reporting
person's 148,948 Units held in a trust for the benefit of the reporting person's adult son 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 November 25, 1998, the conditions had been satisfied for
the conversion of 3,931 of such contingent Units into ordinary Units, and accordingly, 750 of such 148,948 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 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.
/s/ William L. Mack 2/10/99
----------------------------------- -----------
**Intentional misstatements or omissions of facts constitute **Signature of Reporting Person Date
Federal Criminal Violations. SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
</TABLE>
