FORM 5       Check box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).        Form 3 Holdings Reported  X  Form 4 Transactions Reported	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C.  20549 ANNUAL 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	OMB APPROVAL
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1. Name and Address of Reporting Person Mack William L. (Last)            (First)              (Middle) c/o Mack-Cali Realty Corporation 11 Commerce Drive (Street)         Cranford,   New Jersey    07016 (City)       (State)          (Zip)	2. Issuer Name and Ticker     or Trading Symbol Mack-Cali Realty Corporation (CLI)  3. I.R.S. Identification     Number of Reporting     Person, if an entity     (voluntary)	4. Statement for Month/Year December 2002  5. If Amendment, Date of     Original (Month/Year)	6. Relationship of Reporting Person(s) to Issuer     (Check all applicable)
			X Director      Officer (give title below)	10% Owner      Other (specify below)
			7. Individual or Joint/Group Reporting     (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 at the     end of Issuer's     Fiscal Year     (Instr. 3 and 4)	6. Owner-     ship     Form:     Direct(D)     or     Indirect (I)     (Instr. 4)	7.  Nature of      Indirect      Beneficial      Ownership      (Instr. 4)
				Amount	(A) or (D)	Price

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

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. Conver sion 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 Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned at End of Year (Instr. 4)

10.Ownership of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Phantom Stock Units

1-for-1

4/3/02

A

187.838(1)

(2)

(2)

Common Stock

187.838

$33.96

D

Phantom Stock Units

1-for-1

7/3/02

A

193.932(1)

(2)

(2)

Common Stock

193.932

$33.50

D

Phantom Stock Units

1-for-1

10/3/02

A4

216.880(1)

(2)

(2)

Common Stock

216.880

$30.67

2,675.589

D

Explanation of Responses:

(1)           The number of phantom stock units awarded is comprised of a quarterly director’s fee earned and quarterly dividend credited on cumulative phantom stock units under the Mack-Cali Realty Corporation Deferred Compensation Plan for Directors.

(2)           The phantom stock units were accrued under the Mack-Cali Realty Corporation Deferred Compensation Plan for Directors and are to be settled 100% in Mack-Cali Realty Corporation common stock upon the termination of the reporting person’s service on the Board of Directors of Mack-Cali Realty Corporation or upon a change in control of Mack-Cali Realty Corporation.

/s/ William L. Mack ** Signature of Reporting Person 2/14/03 Date

**         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 provided is insufficient, see Instruction 6 for procedure.

http://www.sec.gov/divisions/corpfin/forms/form5.htm

Last update: 09/03/2002