David Smetana - Jun 9, 2021 Form 4 Insider Report for MACK CALI REALTY CORP (VRE)

Role: Chief Financial Officer
Signature: /s/ David Smetana
Stock symbol: VRE
Transactions as of: Jun 9, 2021
Transactions value $: $0
Form type: 4
Date filed: 6/11/2021, 04:02 PM

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	VRE	Outperformance Vesting Restricted Stock Units	Award	$0	+21.5K		$0.00	21.5K	Jun 9, 2021	Common Stock, $0.01 par value	21.5K	$0.00	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On April 21, 2021, Mack-Cali Realty Corporation (the "Company") granted the reporting person outperformance vesting restricted stock units (each, a "OPVRSU"). Each OPVRSU represents represents a contingent right to receive one share of the Company's common stock, $0.01 par value per share (the "Common Stock"). The OPVRSUs were granted expressly subject to and conditioned upon (and could not be exercised, in whole or in part, until) the approval by the Company's stockholders at or before the Company's 2021 Annual Meeting of Stockholders (the "Annual Meeting") of a sufficient increase in the number of Shares available for issuance under the Company's 2013 Incentive Stock Plan to cover the OPVRSUs, which approval was obtained at the Annual meeting on June 9, 2021.
F2	The OPVRSUs may vest on April 20, 2024 from 0% to 100% based on the attainment of certain levels of adjusted funds from operations per share for the Company's fiscal year ending December 31, 2023.

Content

On April 21, 2021, Mack-Cali Realty Corporation (the "Company") granted the reporting person outperformance vesting restricted stock units (each, a "OPVRSU"). Each OPVRSU represents represents a contingent right to receive one share of the Company's common stock, $0.01 par value per share (the "Common Stock"). The OPVRSUs were granted expressly subject to and conditioned upon (and could not be exercised, in whole or in part, until) the approval by the Company's stockholders at or before the Company's 2021 Annual Meeting of Stockholders (the "Annual Meeting") of a sufficient increase in the number of Shares available for issuance under the Company's 2013 Incentive Stock Plan to cover the OPVRSUs, which approval was obtained at the Annual meeting on June 9, 2021.

The OPVRSUs may vest on April 20, 2024 from 0% to 100% based on the attainment of certain levels of adjusted funds from operations per share for the Company's fiscal year ending December 31, 2023.