SEC Form 4 · accession 0001179110-16-021502
MACK CALI REALTY CORP · CLI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gary T Wagner
Officer — Chief Legal Officer
Period of report
Mar 8, 2016
Accepted (ET)
Mar 10, 2016 · 4:43 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000924901
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Class A 2016 LTIP UnitsF1,F2 | — | Mar 8, 2016 | A | 5,949 | A | — | — | Common Stock | 5,949 | 5,949 | D |
| Class B 2016 LTIP UnitsF3,F4 | — | Mar 8, 2016 | A | 3,687 | A | — | — | Common Stock | 3,687 | 3,687 | D |
Explanation of responses
- F1On March 8, 2016, the reporting person received a grant of Class A 2016 LTIP Unit (the "Class A Units") of Mack-Cali Realty, L.P. (the "Operating Partnership"), the operating partnership of Mack-Cali Realty Corporation ("the Company"). The Class A Units are a class of units of the Operating Partnership that, following the occurrence of certain events and upon vesting are convertible by the holder into an equivalent number of Common Units of the Operating Partnership ("Common Units"). Common Units of the Operating Partnership are redeemable by the holder for cash or, at the Company's election, shares of common stock of the Company on a one-for-one basis or the cash value of such shares.
- F2Fifty percent (50%) of the Class A Units may vest over a three to five year period based on the attainment of absolute total stockholder return ("TSR") metrics by the Company over a three year performance period. The remaining fifty percent (50%) of the Class A Units may vest over a three to five year period based on the Company's TSR relative to the TSR of other equity office REITs in the NAREIT Index over the same three year performance period.
- F3On March 8, 2016, the reporting person received a grant of Class B 2016 LTIP Unit (the "Class B Units") of Mack-Cali Realty, L.P. (the "Operating Partnership"), the operating partnership of Mack-Cali Realty Corporation ("the Company"). The Class B Units are a class of units of the Operating Partnership that, following the occurrence of certain events and upon vesting are convertible by the holder into an equivalent number of Common Units of the Operating Partnership ("Common Units"). Common Units of the Operating Partnership are redeemable by the holder for cash or, at the Company's election, shares of common stock of the Company on a one-for-one basis or the cash value of such shares.
- F4The Class B Units vest in equal portions over a three year period commencing March 8, 2017.