U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3 OMB APPROVAL
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OMB NUMBER: 3235-0104
Expires: April 30, 1997
Estimated average burden
hours per response ...... 0.5
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INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section16(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
NASSBAUM PAUL A.
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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. Date of Event Requiring Statement (Month/Day/Year)
12/11/97
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3. IRS Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
MACK-CALI REALTY CORPORATION (CLI)
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5. Relationship of Reporting Person to Issuer:
(Check all applicable)
X Director 10% Owner
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Officer (give Other (Specify
----- title below) ------ below)
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6. If Amendment, Date of Original (Month/Day/Year)
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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 1 -- Non-Derivative Securities Beneficially Owned
1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect Beneficial Ownership
(Instr. 4) Beneficially Owned Direct (D) or (Instr. 5)
(Instr. 4) Indirect (I)
(Instr. 5)
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
SEC 1473 (8-92)
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FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security 2. Date Exer- 3. Title and Amount of Securities 4. Conversion 5. Ownership 6. Nature of
cisable and Underlying Derivative Security or Exercise Form of Indirect
Expiration (Instr. 4) Price of Derivative Beneficial
Date Derivative Security: Ownership
(Month Day Security Direct (D) (Instr. 5)
Year) or
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Date Expira- Amount (Instr. 5)
Exer- tion or
cisable Date Title Number
of
Shares
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UNITS OF LIMITED
PARTNERSHIP INTEREST (1) (1) COMMON STOCK 18,071 D
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SERIES B PREFERRED UNITS OF
LIMITED PARTNERSHIP INTEREST(2) (2) COMMON STOCK 9,095 D
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WARRANTS TO PURCHASE UNITS OF
LIMITED PARTNERSHIP INTEREST (3) COMMON STOCK 957(3) D
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DIRECTOR STOCK OPTIONS
(RIGHT TO BUY) (4) 12/12/07 COMMON STOCK 10,000 $38.75 D
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Explanation of Responses:
(1) The Units of Limited Partnership Interest ("Units") represent interests in Cali Realty, L.P., a Delaware
limited partnership, through which Mack-Cali Realty Corporation conducts it real estate activities. The Units shall
be redeemable on a one-for-one basis for shares of Common Stock beginning on December 11, 1998.
(2) The Series B Preferred Units of Limited Partnership Interest (the "Series B Preferred Units")
are immediately convertible into Units. Currently, the reporting person's 9,095 Series B Preferred Units are
convertible into 262,482 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.
(3) The Warrants to purchase Units of Limited Partnership Interest are exercisable on a one-for-one basis beginning
on December 11, 1998 for a period of four years thereafter at a price of $37.80 per Unit. Any Units received
upon exercise of the Warrants shall be immediately redeemable into Common Stock.
(4) The options vest on December 12, 1998.
/s/ Paul A. Nassbaum 12/22/97
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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.