U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 4
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
|_| Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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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)
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2. Issuer Name and Ticker or Trading Symbol
Mack-Cali Realty Corporation (CLI)
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Statement for Month/Year
5/99
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
|X| Director |_| 10% Owner
|_| Officer (give title below) |_| Other (specify below)
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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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* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ---------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Page 1 of 2
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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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<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- Form of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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Units of Limited 5/1/99 J(1) (1) (1) Common (1) 860,721 D
Partnership Stock (1)
Interest (1)
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Units of Limited 5/29/99 J(2) (2) (2) Common (2) 860,721 D
Partnership Stock (2)
Interest (2)
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Units of Limited 5/1/99 J(3) (3) (3) Common (3) 148,948 I Trust
Partnership Stock (3) fbo
Interest (3) R. Mack
(4)
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Units of Limited 5/1/99 J(3) (3) (3) Common (3) 148,948 I Trust
Partnership Stock (3) fbo
Interest (3) S. Mack
(4)
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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 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 May 1, 1999,
16,661 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 May 1, 1999, the
conditions had been satisfied for the conversion of 475 of the reporting
person's contingent Units into ordinary Units, and accordingly, 16,186 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 May 29, 1999, 16,186 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 May 29, 1999, the conditions had been satisfied for the conversion of
13,420 of the reporting person's contingent Units into ordinary Units, and
accordingly, 2,766 of the reporting persons Units remained contingent.
(3) 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 May 1, 1999, 559 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 May 1,
1999, the conditions had been satisfied for the conversion of 82 of the
reporting person's contingent Units into ordinary Units, and accordingly,
477 of such 148,948 Units remained contingent.
(4) 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.
** 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 8/10/99
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** Signature of Reporting Person Date
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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