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	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
X	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* CBL & ASSOCIATES INC (Last) (First) (Middle) 2030 HAMILTON PLACE BLVD., SUITE 500 (Street) CHATTANOOGA TN 374216000 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol CBL & ASSOCIATES PROPERTIES INC [ CBL ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner Officer (give title below) X Other (specify below) No longer a 10% owner
	3. Date of Earliest Transaction (Month/Day/Year) 11/01/2021
	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
Common Stock	11/01/2021		D		15,520,703.764(1)(2)	D	$0	0	D
Common Stock	11/01/2021		D		208,675(1)(2)	D	$0	0	I(3)	By Partnerships
Common Stock	11/01/2021		A(4)		84,708	A	$0	84,708(5)	D
Common Stock	11/01/2021		A(4)		1,139	A	$0	1,139(5)	I(3)	By Partnerships

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

Explanation of Responses:

1. 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.

2. 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

3. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein.

4. 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.

5. Following these transactions, the Reporting Person is no longer a 10% beneficial owner subject to Section 16.

	/s/ CBL & Associates, Inc. by: Charles B. Lebovitz, Chairman	11/03/2021
	** 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).
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