SEC FORM 4

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^*

RATNER RONALD A

(Last)

(First)

(Middle)

50 PUBLIC SQUARE, SUIT 1100

(Street)

CLEVELAND

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)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Vice President

3. Date of Earliest Transaction (Month/Day/Year)
12/13/2005

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock								3,500	I	See footnote⁽¹⁾
Class A Common Stock								972,302	I	See footnote⁽²⁾
Class A Common Stock								224,294	I	See footnote⁽³⁾
Class A Common Stock								9,410	I	See footnote⁽⁴⁾
Class A Common Stock								50,946	I	See footnote⁽⁵⁾
Class A Common Stock								52,802	I	See footnote⁽⁶⁾
Class A Common Stock								43,764	I	See footnote⁽⁷⁾
Class A Common Stock								43,596	I	See footnote⁽⁸⁾
Class A Common Stock	12/13/2005		M		54,000	A	$9.5	54,000	D
Class A Common Stock	12/13/2005		M		13,500	A	$7.49	67,500	D
Class A Common Stock	12/13/2005		M		27,000	A	$14.267	94,500	D
Class A Common Stock	12/13/2005		S		170	D	$39.5	94,330	D
Class A Common Stock	12/13/2005		S		20	D	$39.49	94,310	D
Class A Common Stock	12/13/2005		S		80	D	$39.48	94,230	D
Class A Common Stock	12/13/2005		S		60	D	$39.47	94,170	D
Class A Common Stock	12/13/2005		S		80	D	$39.42	94,090	D
Class A Common Stock	12/13/2005		S		20	D	$39.4	94,070	D
Class A Common Stock	12/13/2005		S		860	D	$39.39	93,210	D
Class A Common Stock	12/13/2005		S		100	D	$39.38	93,110	D
Class A Common Stock	12/13/2005		S		40	D	$39.37	93,070	D
Class A Common Stock	12/13/2005		S		60	D	$39.35	93,010	D
Class A Common Stock	12/13/2005		S		340	D	$39.34	92,670	D
Class A Common Stock	12/13/2005		S		520	D	$39.33	92,150	D
Class A Common Stock	12/13/2005		S		1,060	D	$39.32	91,090	D
Class A Common Stock	12/13/2005		S		400	D	$39.31	90,690	D
Class A Common Stock	12/13/2005		S		420	D	$39.3	90,270	D
Class A Common Stock	12/13/2005		S		360	D	$39.29	89,910	D
Class A Common Stock	12/13/2005		S		140	D	$39.28	89,770	D
Class A Common Stock	12/13/2005		S		100	D	$39.27	89,670	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 (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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	900		900⁽⁹⁾	D
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	784		784	D
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	728,400		728,400	I	See footnote⁽¹⁰⁾
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	94,526		94,526	I	See footnote⁽¹¹⁾
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	114,676		114,676	I	See footnote⁽¹²⁾
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	59,922		59,922	I	See footnote⁽¹³⁾
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	11,984		11,984	I	See footnote⁽¹³⁾
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	1,800		1,800	I	See footnote⁽¹⁴⁾
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	243,424		243,424	I	See footnote⁽¹⁵⁾
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	198,020		198,020	I	See footnote⁽¹⁶⁾
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	345,510		345,510	I	See footnote⁽¹⁷⁾
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	370,350		370,350	I	See footnote⁽¹⁸⁾
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	468,444		468,444	I	See footnote⁽¹⁹⁾
1998 Stock Option Grant (right to buy)	$9.5	12/13/2005		M			54,000	03/18/2000⁽²⁰⁾	03/18/2008	Class A Common	54,000	$0⁽²⁰⁾	0	D
1999 Stock Option Grant (right to buy)	$7.46	12/13/2005		M			13,500	04/08/2001⁽²¹⁾	04/08/2009	Class A Common	13,500	$0⁽²¹⁾	0	D
2001 Stock Option Grant (right to buy)	$14.27	12/13/2005		M			27,000	03/08/2003⁽²²⁾	03/08/2011	Class A Common	54,000	$0⁽²²⁾	27,000	D
2003 Stock Option Grant (right to buy)	$15.5							03/17/2005⁽²³⁾	03/17/2013	Class A Common	54,000		54,000	D
2005 Stock Option Grant (right to buy)	$31.75							04/06/2007⁽²⁴⁾	04/06/2015	Class A Common	25,200		25,200	D⁽²⁴⁾

Explanation of Responses:

1. Ronald Ratner 2001 Trust dated, 11/01/01.

2. The Ronald Ratner 1986 Trust Agreement, as modified (Ronald is Trustee)

3. Deborah Ratner Trust - individually trust of spouse, shares held in account at McDonald Investments.

4. Ronald Ratner 1986 Family Trust 4,704 shares for the benefit of Matthew (son), and 4,706 shares for the benefit of Sarah (daughter) - Ronald Ratner disclaims any beneficial interest.

5. Deborah B. Ratner, Trustee of the Irene Meldon 1998 Irrevocable Trust dated 12/04/1998.

6. Max Ratner Family Trust dated 12/18/1986 - 26,242 shares for benefit of Matthew (son), and 26,240 shares for benefit of Sarah (daughter) - Ronald Ratner disclaims any beneficial interest.

7. Max Ratner Remainder Interest Trust - special allocation to Ronald Ratner 1986 FamilyTrust - for the benefit of Matthew (son). Ronald Ratner disclaims any beneficial interest.

8. Max Ratner Remainder Interest Trust - special allocation to Ronald Ratner 1986 FamilyTrust - for the benefit of Sarah (daughter). Ronald Ratner disclaims any beneficial interest.

9. General Partnership interest in RMS, Ltd. partnership a 10% sharelholder.

10. The Ronald Ratner 1986 Trust Agreement, as modified (Ronald is Trustee); these shares are held by FCE Management, LP as a limited partner of RMS, Ltd. (limited partnership).

11. Ronald Ratner 2001 Trust dated, 11/01/01.

12. Limited partnership interest in RMS, Ltd. held by son, Matthew.

13. Max Ratner 1986 Family Trust - Ronald Ratner is a Trustee (along with his brothers), and disclaims any beneficial interest. Matthew and Sarah each have a 1/10th beneifical interest (5,992 shares).

14. 1989 Irrevocable Trust - 900 shares for the benefit of Matthew (son), and 900 shares for the benefit of Sarah (daughter).

15. Ronald Ratner 1986 Family Trust - 121,712 shares for the benefit of Matthew (son), and 121,712 for the benefit of Sarah (daughter)- RMS, Ltd. - limited partnership interest - Ronald Ratner disclaims any beneficial interest.

16. Ronald Ratner 1986 Family Trust - 99,010 shares for the benefit of Matthew (son), and 99,010 shares for the benefit of Sarah (daughter) - FCE Management, L.P., limited partnership interest - Ronald Ratner disclaims any beneficial interest.

17. Max Ratner Grandchildren's Trust dated 12/21/1988 - for the benefit of Matthew (son) - RMS, Ltd. - limited partnership interest. - Ronald Ratner disclaims any beneficial interest.

18. Max Ratner Grandchildren's Trust dated 12/21/1988 - for the benefit of Sarah (daughter) - RMS, Ltd. - limited partnership interest. - Ronald Ratner disclaims any beneficial interest.

19. Max Ratner Family 1999 Revocable Trust - 234,222 shares for Matthew (son) beneficiary, and 234,222 shares for Sarah (daughter) beneficiary. Ronald Ratner disclaims any beneficial interest.

20. 1998 Stock Option Grant - 25% exercisable 3/18/2000; 33% exercisable 3/18/2001; and 42% exercisable 3/18/02.

21. 1999 Stock Option Grant - 25% exercisable 4/08/2001; 25% exercisable 4/08/2002; and 50% exercisable 4/08/2003.

22. 2001 Stock Option Grant - 25% exercisable 3/08/2003; 25% exercisable 3/08/2004; and 50% exercisable 3/08/2005.

23. 2003 Stock Option Grant - 25% exercisable 3/17/05; 25% exercisable 3/17/06; and 50% exercisable 3/17/07.

24. 2005 Stock Option Grant - 25% exercisable 4/06/2007; 25% exercisable 4/06/2008; and 50% exersicable 4/06/2009.

25. Class B Common Stock is convertible to Class A Common Stock on a share -for -share basis; stock are convertible at any time - there is no fixed exercise date or expiration date. Class B Common shares are being moved to Table II since they are convertible at fixed price and thus treated as derivative securities.

Remarks:

Filing 1 of 4.

	Geralyn M. Presti, Attorney-in-Fact for Ronald A. Ratner	12/15/2005
	** Signature of Reporting Person	Date
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