Sec Form 4 Filing - JONES TIMOTHY M @ MACK CALI REALTY CORP - 2004-05-07

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person JONES TIMOTHY M 2. Issuer Name and Ticker or Trading Symbol MACK CALI REALTY CORP [ CLI] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) President (Last) (First) (Middle) C/O MACK-CALI REALTY CORPORATION, 11 COMMERCE DRIVE 3. Date of Earliest Transaction (MM/DD/YY) 05/07/2004 (Street) CRANFORD, NJ07016 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 05/07/2004 D( 1 ) 19,284 D 82,185 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Employee Stock Option (Right to Buy) $ 26.8125 12/31/2000( 2 ) 12/31/2010 Common Stock 24,000 24,000 D Employee Stock Option (Right to Buy) $ 38.75 12/31/1997( 3 ) 12/12/2007 Common Stock 1,795 1,795 D Employee Stock Option (Right to Buy) $ 37.3125 12/31/1998( 4 ) 03/17/2008 Common Stock 15,000 15,000 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other JONES TIMOTHY M C/O MACK-CALI REALTY CORPORATION 11 COMMERCE DRIVE CRANFORD, NJ07016 President Signatures /s/ Timothy M. Jones 05/10/2004 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The reporting person forfeited 19,284 shares of unvested restricted Common Stock in connection with his resignation from Mack-Cali Realty Corporation on May 7, 2004 (the "Effective Date"). An additional 19,285 shares of unvested restricted Common Stock beneficially owned by the reporting person were declared fully vested as of the Effective Date. ( 2 )On December 5, 2000, the reporting person was granted an option to purchase 120,000 shares of Common Stock. The vesting of the remaining 24,000 shares of Common Stock, originally scheduled to vest on December 31, 2004, has been accelerated to the Effective Date. This information is being provided for information purposes only. ( 3 )On December 12, 1997, the reporting person was granted an option to purchase 105,295 shares of the Common Stock. The options vested in five equal annual installments beginning December 31, 1997. This information is being provided for information purposes only. ( 4 )On March 17, 1998, the reporting person was granted an option to purchase 15,000 shares of the Common Stock. The options vested in five equal annual installments beginning December 31, 1998. This information is being provided for information purposes only.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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