CBL & ASSOCIATES PROPERTIES INC — Director's Dealing 2012

Mar 27, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CBL & ASSOCIATES PROPERTIES INC (CBL)
CIK: 0000910612
Period of Report: 2012-03-26

Reporting Person: SINK JERRY L (Sr VP - Mall Management)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-26	Common Stock	M	18000	$18.2675	Acquired	50990.5173	Direct
2012-03-26	Common Stock	S	13000	$18.98	Disposed	37990.5173	Direct
2012-03-26	Common Stock	S	5000	$18.97	Disposed	32990.5173	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-03-26	Employee Stock Option (Right to Buy)	$18.2675	M	18000	Disposed	2012-05-07	Common Stock (18000)	Direct

Footnotes

F1: 250 shares of the total amount of beneficially owned securities are owned by the Reporting Person and the Reporting Person's spouse, as joint tenants.

F2: Vests 20% annually over five years on each anniversary date starting on the first exercisable date shown.