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CBL & ASSOCIATES PROPERTIES INC Director's Dealing 2012

Feb 10, 2012

32287_dirs_2012-02-10_d4a7ab89-41ee-4daf-9964-7c83ccea5b92.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CBL & ASSOCIATES PROPERTIES INC (CBL)
CIK: 0000910612
Period of Report: 2012-02-10

Reporting Person: LEBOVITZ ALAN L. (Sr. VP - Asset Management)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2012-02-10 Common Stock A 1500 Acquired 127876.6405 Direct

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Common Units $ 2043-11-03 Common Stock (208827) 208827 Direct

Footnotes

F1: Grant of restricted Common Stock pursuant to the terms of the Second Amended and Restated CBL & Associates Properties, Inc. Stock Incentive Plan, as amended.

F2: Additionally, the Reporting Person owns a limited partnership interest in CBL & Associates Limited Partnership, a Delaware limited partnership, that may be exchanged at any time for 208,827 shares of the Issuer's Common Stock (on a one-for-one basis) or cash, at the Issuer's election.

F3: The Common Units are exerciseable on a 1 to 1 ratio with no exercise price.

F4: Immediately exercisable.