CBL & ASSOCIATES PROPERTIES INC — Director's Dealing 2016

Feb 1, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CBL & ASSOCIATES PROPERTIES INC (CBL)
CIK: 0000910612
Period of Report: 2016-01-15

Reporting Person: LEBOVITZ STEPHEN D (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-15	Common Stock	J	392.8952	$10.7899	Acquired	32387.2099	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	813526.91	Direct
Common Stock	1150	Indirect
Common Stock	10383.452	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Units	$	2043-11-03	Common Stock (480297)	480297	Direct
Common Units	$	2043-11-03	Common Stock (49365)	49365	Indirect
Common Units	$	2043-11-03	Common Stock (9650)	9650	Indirect

Footnotes

F1: The shares were acquired via the Company's Dividend Reinvestment Plan.

F2: The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

F3: 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 an aggregate of 480,297 shares of the Issuer's Common Stock (on a one-for-one basis) or cash, at the Issuer's election.

F4: The Common Units are exercisable on a 1 to 1 ratio with no exercise price.

F5: Immediately exercisable.