CBL & ASSOCIATES PROPERTIES INC — Director's Dealing 2012

Apr 4, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CBL & ASSOCIATES PROPERTIES INC (CBL)
CIK: 0000910612
Period of Report: 2012-03-29

Reporting Person: Grody Howard B. (Sr. VP - Leasing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-29	Common Stock	M	12500	$18.2675	Acquired	30322.1187	Direct
2012-03-29	Common Stock	S	12500	$18.71	Disposed	17822.1187	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-03-29	Employee Stock Option (Right to Buy)	$18.2675	M	12500	Disposed	2012-05-07	Common Stock (12500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	10	Indirect
Common Stock	10	Indirect

Footnotes

F1: Vests 20% annually over five years on each anniversary date starting on the first exercisable date shown.