Charles B. Lebovitz - Nov 1, 2021 Form 4 Insider Report for CBL & ASSOCIATES PROPERTIES INC (CBL)

Role
Chairman of the Board, Director, 10%+ Owner
Signature
/s/ Jeffery V. Curry, Attorney-in-fact for Charles B. Lebovitz
Stock symbol
CBL
Transactions as of
Nov 1, 2021
Transactions value $
$0
Form type
4
Date filed
11/3/2021, 04:36 PM
Next filing
Dec 17, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CBL Common Stock Disposed to Issuer $0 -1.01M -100% $0.00* 0 Nov 1, 2021 Direct F1, F2
transaction CBL Common Stock Disposed to Issuer $0 -15.7M -100% $0.00* 0 Nov 1, 2021 By Corporation F1, F2, F3
transaction CBL Common Stock Disposed to Issuer $0 -26.1K -100% $0.00* 0 Nov 1, 2021 By Trust F1, F2, F3
transaction CBL Common Stock Disposed to Issuer $0 -489K -100% $0.00* 0 Nov 1, 2021 By Partnership F1, F2, F3
transaction CBL Common Stock Award $0 +5.53K $0.00 5.53K Nov 1, 2021 Direct F4
transaction CBL Common Stock Award $0 +85.8K $0.00 85.8K Nov 1, 2021 By Corporation F3, F4
transaction CBL Common Stock Award $0 +142 $0.00 142 Nov 1, 2021 By Trust F3, F4
transaction CBL Common Stock Award $0 +2.67K $0.00 2.67K Nov 1, 2021 By Partnership F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Beginning on November 1, 2020, CBL & Associates Properties, Inc. and certain affiliated companies (collectively, the "Debtors") each filed petitions in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court") seeking relief under chapter 11 of the United States Bankruptcy Code. On August 11, 2021, the Bankruptcy Court entered an order confirming the Debtors' Third Amended Joint Chapter 11 Plan of Reorganization (the "Plan") and the Third Amended Joint Chapter 11 Plan of CBL & Associates Properties, Inc. and its Affiliated Debtors (with Technical Modifications) (the "Technical Plan Supplement"), dated as of August 9, 2021. On November 1, 2021 (the "Effective Date"), the conditions to effectiveness of the Plan were satisfied and the Debtors emerged from the Chapter 11 Cases.
F2 On the Effective Date, by operation of the Plan, all agreements, instruments, and other documents evidencing, relating to or connected with any equity interests of the Company, including (1) the REIT's old common stock, par value $0.01 per share (the "Old Common Stock"), and the REIT's old preferred stock and related depositary shares (the "Old Preferred Stock") and (2) the Operating Partnership's old limited partnership common interests (the "Old LP Common Interests") and the old limited partnership preferred interests (the "Old LP Preferred Interests") related to the REIT's Old Preferred Stock, in each case issued and outstanding immediately prior to the Effective Date, and any rights of any holder in respect thereof, were deemed cancelled, discharged and of no force or effect.
F3 The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F4 Pursuant to the terms of the Plan, on the Effective Date all holders of the Old Common Stock received, in the aggregate, their pro rata share of common stock ("New Common Stock") representing 5.5% of the shares of the reorganized Company (subject to dilution for a new management incentive plan). The receipt of the New Common Stock in exchange for Old Common Stock was involuntary, without consideration and in accordance with the Plan approved by the Bankruptcy Court.