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)
10/15/2004

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								1,750	I	See footnote⁽¹⁾
Class A Common Stock								547,687	I	See footnote⁽²⁾
Class A Common Stock								162,147	I	See footnote⁽³⁾
Class A Common Stock								104,705	I	See footnote⁽⁴⁾
Class A Common Stock								25,873	I	See footnote⁽⁵⁾
Class A Common Stock								26,400	I	See footnote⁽⁶⁾
Class A Common Stock								21,882	I	See footnote⁽⁷⁾
Class A Common Stock								21,798	I	See footnote⁽⁸⁾
Class A Common Stock	10/15/2004		M		27,000	A	$9.583	27,000	D
Class A Common Stock	10/15/2004		M		20,250	A	$14.917	47,250	D
Class A Common Stock	10/15/2004		S		22,111	D	$54.9142	25,139	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	450		450⁽⁹⁾	D
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	392		392	D
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	364,200		364,200	I	See footnote⁽¹⁰⁾
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	47,262.45		47,262.45	I	See footnote⁽¹¹⁾
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	57,338		57,338	I	See footnote⁽¹²⁾
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	29,961		29,961	I	See footnote⁽¹³⁾
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	5,992		5,992	I	See footnote⁽¹³⁾
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	900		900	I	See footnote⁽¹⁴⁾
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	121,713		121,713	I	See footnote⁽¹⁵⁾
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	99,011		99,011	I	See footnote⁽¹⁶⁾
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	172,755		172,755	I	See footnote⁽¹⁷⁾
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	185,175		185,175	I	See footnote⁽¹⁸⁾
Class B Common - Convertible	$0⁽²⁵⁾							08/08/1988⁽²⁵⁾	08/08/1988⁽²⁵⁾	Common Stock	234,222		234,222	I	See footnote⁽¹⁹⁾
1996 Stock Option Grant (right to buy)	$9.583	10/15/2004		M			27,000	09/10/1998⁽²⁰⁾	09/10/2006	Class A Common	27,000	$9.583	0	D
1998 Stock Option Grant (right to buy)	$19							03/18/2000⁽²¹⁾	03/18/2008	Class A Common	27,000		27,000	D
1999 Stock Option Grant (right to buy)	$14.917	10/15/2004		M			20,250	04/08/2001⁽²²⁾	04/08/2009	Class A Common	27,000	$14.917	6,750	D
2001 Stock Option Grant (right to buy)	$28.533							03/08/2003⁽²³⁾	03/08/2011	Class A Common	27,000		27,000	D
2003 Stock Option Grant (right to buy)	$31							03/17/2005⁽²⁴⁾	03/17/2013	Class A Common	27,000		27,000	D

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 52,352 shares for the benefit of Matthew (son), and 52,353 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 - 13,200 shares for benefit of Matthew (son), and 13,200 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 (2,996 shares).

14. 1989 Irrevocable Trust - 450 shares for the benefit of Matthew (son), and 450 shares for the benefit of Sarah (daughter).

15. Ronald Ratner 1986 Family Trust - 60,856 shares for the benefit of Matthew (son), and 60,857 for the benefit of Sarah (daughter)- RMS, Ltd. - limited partnership interest - Ronald Ratner disclaims any beneficial interest.

16. Ronald Ratner 1986 Family Trust - 49,506 shares for the benefit of Matthew (son), and 49,505 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 - 117,111 shares for Matthew (son) beneficiary, and 117,111 shares for Sarah (daughter) beneficiary. Ronald Ratner disclaims any beneficial interest.

20. 1996 Stock Option Grant - 25% exercisable 9/10/1998; 25% exercisable 9/10/1999; and 50% exercisable 9/10/00.

21. 1998 Stock Option Grant - 25% exercisable 3/18/2000; 33% exercisable 3/18/2001; and 42% exercisable 3/18/02.

22. 1999 Stock Option Grant - 25% exercisable 4/08/2001; 25% exercisable 4/08/2002; and 50% exercisable 4/08/2003.

23. 2001 Stock Option Grant - 25% exercisable 3/08/2003; 25% exercisable 3/08/2004; and 50% exercisable 3/08/2005.

24. 2003 Stock Option Grant - 25% exercisable 3/17/05; 25% exercisable 3/17/06; and 50% exercisable 3/17/07.

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:

	Geralyn M. Presti, Attorney-in-Fact for Ronald A. Ratner	10/19/2004
	** 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).
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