SEC Form 4
FORM 4 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
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
KANE LINDA M
(Last) (First) (Middle)
50 PUBLIC SQUARE, SUITE 1100
(Street)
CLEVELAND OH 44113
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
FOREST CITY ENTERPRISES INC [ FCEA/FCEB ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Sr Vice President/Controller
3. Date of Earliest Transaction (Month/Day/Year)
04/09/2007
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 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
Class A Common Stock 2,043.8167 I 401k Plan(1)
Class A Common Stock 3,000 D(2)
Class A Common Stock 2,500 D(3)
Class A Common Stock 430 I See footnote(4)
Class A Common Stock 520 I See footnote(5)
Class A Common Stock 230 I See footnote(6)
Class A Common Stock 04/09/2007 M 3,750 A $31.75 3,950 D(7)
Class A Common Stock 04/09/2007 S 1,750 D $67.23 2,200 D(7)
Class A Common Stock 04/09/2007 S 200 D $67.06 2,000 D(7)
Class A Common Stock 04/09/2007 S 300 D $67.05 1,700 D(7)
Class A Common Stock 04/09/2007 S 400 D $67.04 1,300 D(7)
Class A Common Stock 04/09/2007 S 500 D $67.03 800 D(7)
Class A Common Stock 04/09/2007 S 100 D $67.02 700 D(7)
Class A Common Stock 04/09/2007 S 100 D $67.01 600 D(7)
Class A Common Stock 04/09/2007 S 200 D $67 400 D(7)
Class A Common Stock 04/09/2007 S 100 D $66.98 300 D(7)
Class A Common Stock 04/09/2007 S 100 D $66.97 200 D(7)
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 (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 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 (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (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: 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
2005 Stock Option Grant (right to buy) $31.75 04/09/2007 M 3,750 04/06/2007(8) 04/06/2015 Class A Common 15,000 $0 11,250 D(8)
2006 Stock Option Grant (right to buy) $46.37 04/04/2008(9) 04/04/2016 Class A Common 15,000 15,000 D(9)
2007 Stock Option Grant (right to buy) $65.35 03/29/2009(10) 03/29/2017 Class A Common 15,000 15,000 D(10)
Class B Common - Convertible(11) $0 08/08/1988(12) 08/08/1988(12) Common Stock 1,764.0759 1,764.0759 I 401k Plan(13)
Explanation of Responses:
1. Class A Common Stock - 401k account - Held Indirect
2. 2006 Restricted Stock Grant - 25% vest on 4/04/2008; 25% vest on 4/04/2009; and 50% vest on 4/04/2010.
3. 2007 Restricted Stock Grant - 25% vest on 3/29/2009; 25% vest on 3/20/2010; and 50% vest on 3/29/2011.
4. Shares held by Carolyn Rilley, daughter - Indirect
5. Shares held by Joseph Williams, son - Indirect
6. Shares held by Gary Stewart, step-son (nonresident family member - insider's spouse is account custodian). Linda Kane disclaims any beneficial interest.
7. Shares are held in a street account with Northwest Mutual Investment Services, LLC.
8. 2005 Stock Option Grant - 25% exercisable 4/06/2007; 25% exercisable 4/06/2008; and 50% exersicable 4/06/2009.
9. 2006 Stock Option Grant - 25% exercisable on 4/04/2008; 25% exercisable on 4/04/2009; and 50% exersicable on 4/04/2010.
10. 2007 Stock Option Grant - 25% exercisable 3/29/2009; 25% exercisable 3/29/2010; and 50% exercisable 3/29/2011.
11. Stocks are convertible from Class B to Class A on a 1-for-1 basis.
12. Immediate - stocks are convertible at any time, there is no fixed exercisable date or expiration date.
13. Class B Common Stock - 401k account - Held indirect
Remarks:
Geralyn M. Presti, Attorney-In-Fact for Linda Kane 04/11/2007
** Signature of Reporting Person Date
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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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