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 CHARLES B (Director, Chairman of the Board, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-15	Common Stock	J	413.0352	$10.7899	Acquired	17069.2642	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	719318.387	Direct
Common Stock	1035105.764	Indirect
Common Stock	17758.0174	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Units	$	2043-11-03	Common Stock (756350)	756350	Direct
Common Units	$	2043-11-03	Common Stock (15729378)	15729378	Indirect
Common Units	$	2043-11-03	Common Stock (489071)	489071	Indirect
Common Units	$	2043-11-23	Common Stock (17081)	17081	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, directly or indirectly, limited partnership interests in CBL & Associates Limited Partnership, a Delaware limited partnership (the Operating Partnership), that, together with the partnership interests of other limited partners in the Operating Partnership which are controlled by the Reporting Person, may be exchanged at any time for an aggregate of 16,991,880 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 exerciseable on a 1 to 1 ratio with no exercise price.

F5: Immediately exercisable.