+--------+ | 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 (Print or Type Responses) - -------------------------------------------------------------------------------- 1. Name and Address of Reporting Person* Mack David S. - -------------------------------------------------------------------------------- (Last) (First) (Middle) C/O Mack-Cali Realty Corporation 11 Commerce Drive - -------------------------------------------------------------------------------- (Street) Cranford, New Jersey 07016 - -------------------------------------------------------------------------------- (City) (State) (Zip) 2. Issuer Name and Ticker or Trading Symbol Mack-Cali Realty Corporation (CLI) ----------------------------------- 3. IRS or Identification Number of Reporting Person if an entity (Voluntary) -------------- 4. Statement for Month/Year 03/98 --------------------------------------------------- 5. If Amendment, Date of Original (Month/Year) --------------------------------- 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) [ ] Director [ ] Officer [ ] 10% Owner [X] Other (give title below) (specify below) Member of Advisory Board ---------------------------------------------------------------- 7. Individual or Joint/Group Filing (Check Applicable Line) X ____ Form filed by One Reporting Person ____ Form filed by More than One Reporting Person TABLE I--NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
- ------------------------------------------------------------------------------------------------------------------------------------ 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) - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. * If this form is filed by more than one reporting person, see Instruction 4(b)(v). 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 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 --------------------------------------------------- Code V (A) (D) - ----------------------------------------------------------------------------------------------------------------------------- Units of Limited 1/1/98 J(2) 2,545 Partnership Interest(1) - ----------------------------------------------------------------------------------------------------------------------------- Units of Limited Partnership Interest(1) - ----------------------------------------------------------------------------------------------------------------------------- Units of Limited Partnership Interest(1) - ----------------------------------------------------------------------------------------------------------------------------- Series B Preferred Units of Limited Partnership Interest(3) 1/1/98 J(2) 175 - ----------------------------------------------------------------------------------------------------------------------------- Series B Preferred Units of Limited Partnership Interest(3) - ----------------------------------------------------------------------------------------------------------------------------- Series B Preferred Units of Limited Partnership Interest(3) - ----------------------------------------------------------------------------------------------------------------------------- Warrants to Purchase Units of Limited Partnership Interest(4) 1/1/98 J(2) 1,433 - ----------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- - -----------------------------------------------------------------------------------------------------------------------------
TABLE II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED (e.g., puts, calls, warrants, options, convertible securities)--CONTINUED
- ------------------------------------------------------------------------------------------------------------------------------------ 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- -------------------------------------------- 5) Owned Direct ship 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) - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ (1) Common 2,545 765,839(1) D Stock - ------------------------------------------------------------------------------------------------------------------------------------ 39,495 I David Mack, Charitable Trust A - ------------------------------------------------------------------------------------------------------------------------------------ 23,874 I David Mack, 4/30/92 Trust - ------------------------------------------------------------------------------------------------------------------------------------ (3) Common (3) 48,686(3) D Stock - ------------------------------------------------------------------------------------------------------------------------------------ 2,535(3) I David Mack, Charitable Trust A - ------------------------------------------------------------------------------------------------------------------------------------ 1,492(3) I David Mack, 4/30/92 Trust - ------------------------------------------------------------------------------------------------------------------------------------ (4) Common 1,433(4) 393,148(4) D Stock - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------
Explanation of Responses: (1) The Units of Limited Partnership Interest ("Units") represent interests in Mack-Cali Reality, L.P., a Delaware limited partnership, through which Mack- Cali Realty Corporation conducts its real estate activities. Beginning on December 11, 1998, the Units shall be 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. 425,695 of the reporting person's 765,839 Units are contingent and will convert, 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. (2) Pursuant to an agreement effective as of January 1, 1998, the Leeds Partnership assigned all of its right, title and interest in and to all of its Units, Series B Preferred Units of Limited Partnership Interest and Warrants to Purchase Units to the reporting person and other members of the reporting person's family. (3) The Series B Preferred Units of Limited Partnership Interest (the "Series B Preferred Units") are immediately convertible into Units. 1,455 of the reporting person's 48,686 Series B Preferred Units are contingent and will convert, in whole or in part, into ordinary Series B 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 B Preferred Units shall not be entitled to any rights associated with the ordinary Series B Preferred Units. Currently, the reporting person's 47,231 ordinary Series B Preferred Units are convertible into 1,363,088 Units, the 2,535 Series B Preferred Units held by the Charitable Trust are convertible into 73,160 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. (4) 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. /s/ David S. Mack 4/10/98 ------------------------------- ----------------- **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.