SEC FORM 5

SEC Form 5

FORM 5

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
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).

Form 3 Holdings Reported.

Form 4 Transactions Reported.

1. Name and Address of Reporting Person^*

RATNERSALZBERG DEBORAH

(Last)

(First)

(Middle)

1615 L STREET, NW, SUITE 400

(Street)

WASHINGTON

20036

(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
	Officer (give title below)		Other (specify below)

3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
01/31/2006

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 at end of Issuer's Fiscal Year (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)	3. Transaction Code (Instr. 8)	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	02/18/2005		J⁽²⁵⁾	10,000	D	$0	772,346	I	See footnote⁽¹⁾
Class A Common Stock	08/15/2005		J⁽²⁵⁾	40,000	D	$0	732,346	I	See footnote⁽¹⁾
Class A Common Stock	12/13/2005		J⁽²⁵⁾	43,750	D	$0	688,596	I	See footnote⁽¹⁾
Class A Common Stock							3,500	I	See footnote⁽²⁾
Class A Common Stock	08/17/2005		G	40,000	A	$0	59,650	I	See footnote⁽³⁾
Class A Common Stock	08/25/2005		G	620	A	$0	60,270	I	See footnote⁽³⁾
Class A Common Stock							3,192	I	See footnote⁽⁴⁾
Class A Common Stock							632,257	I	See footnote⁽⁵⁾
Class A Common							70,000	I	See footnote⁽⁶⁾
Class A Common	02/18/2005		J⁽²⁵⁾	10,000	A	$0	44,563	D
Class A Common	02/18/2005		G	560	D	$0	44,003	D
Class A Common	03/02/2005		G	360	D	$0	43,643	D
Class A Common	06/27/2005		G	430	D	$0	43,213	D
Class A Common	12/13/2005		J⁽²⁵⁾	43,750	A	$0	89,963	D
Class A Common	12/27/2005		G	690	D	$0	86,273	D
Class A Common	12/28/2005		G	31,250	D	$0	55,023	D
Class A Common	12/29/2005		G	12,500	D	$0	42,523	D
Class A Common	12/30/2005		G	49	D	$0	42,474	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)	4. Transaction Code (Instr. 8)	(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⁽²⁴⁾						08/08/1988⁽²⁴⁾	08/08/1988⁽²⁴⁾	Common Stock	900		900	D⁽⁷⁾
Class B Common - Convertible	$0⁽²⁴⁾						08/08/1988⁽²⁴⁾	08/08/1988⁽²⁴⁾	Common Stock	376,928		376,928	I	See footnote⁽⁸⁾
Class B Common - Convertible	$0⁽²⁴⁾	08/24/2005		G	970		08/08/1988⁽²⁴⁾	08/08/1988⁽²⁴⁾	Common Stock	275,052	$0	276,021	I	See footnote⁽⁹⁾
Class B Common - Convertible	$0⁽²⁴⁾						08/08/1988⁽²⁴⁾	08/08/1988⁽²⁴⁾	Common Stock	93,988		93,988	I	See footnote⁽¹⁰⁾
Class B Common - Convertible	$0⁽²⁴⁾						08/08/1988⁽²⁴⁾	08/08/1988⁽²⁴⁾	Common Stock	148,800		148,800	I	See footnote⁽¹¹⁾
Class B Common - Convertible	$0⁽²⁴⁾						08/08/1988⁽²⁴⁾	08/08/1988⁽²⁴⁾	Common Stock	6,402		6,402	I	See footnote⁽¹²⁾
Class B Common - Convertible	$0⁽²⁴⁾						08/08/1988⁽²⁴⁾	08/08/1988⁽²⁴⁾	Common Stock	140,400		140,400	I	See footnote⁽¹³⁾
Class B Common - Convertible	$0⁽²⁴⁾						08/08/1988⁽²⁴⁾	08/08/1988⁽²⁴⁾	Common Stock	5,040		5,040	I	See footnote⁽¹⁴⁾
Class B Common - Convertible	$0⁽²⁴⁾						08/08/1988⁽²⁴⁾	08/08/1988⁽²⁴⁾	Common Stock	81,940		81,940	I	See footnote⁽¹⁵⁾
Class B Common - Convertible	$0⁽²⁴⁾						08/08/1988⁽²⁴⁾	08/08/1988⁽²⁴⁾	Common Stock	81,936		81,936	I	See footnote⁽¹⁷⁾
Class B Common - Convertible	$0⁽²⁴⁾						08/08/1988⁽²⁴⁾	08/08/1988⁽²⁴⁾	Common Stock	58,932		58,932	I	See footnote⁽¹⁶⁾
Class B Common - Convertible	$0⁽²⁴⁾	08/24/2005		G	970		08/08/1988⁽²⁴⁾	08/08/1988⁽²⁴⁾	Common Stock	32,134	$0	33,103	I	See footnote⁽¹⁸⁾
Class B Common - Convertible	$0⁽²⁴⁾	08/24/2005		G	970		08/08/1988⁽²⁴⁾	08/08/1988⁽²⁴⁾	Common Stock	122,539	$0	123,509	I	See footnote⁽¹⁹⁾
Class B Common - Convertible	$0⁽²⁴⁾						08/08/1988⁽²⁴⁾	08/08/1988⁽²⁴⁾	Common Stock	370,519		370,519	I	See footnote⁽²⁰⁾
2001 Stock Option Grant (right to buy)	$14.27						03/08/2003⁽²¹⁾	03/08/2011	Class A Common	15,600		15,600	D
2003 Stock Option Grant (right to buy)	$15.5						03/17/2005⁽²²⁾	03/17/2013	Class A Common	31,200		31,200	D
2005 Stock Option Grant (right to buy)	$31.75						04/06/2007⁽²³⁾	04/06/2015	Class A Common	25,200		25,200	D

Explanation of Responses:

1. U/A Deborah Ratner-Salzberg Trust dated 2/09/1987.

2. Deborah Ratner Salzberg 2001 Trust - 1,750 shares for the benefit of Anna Salzberg (daughter) and 1,750 shares for the benefit of Eric Salzberg (son).

3. Michael Salzberg (spouse) shares held directly.

4. Albert B. Ratner 1989 Grandchildrens Trust - 1,596 shares for the benefit of Anna Salzberg (daughter), and 1,596 shares for the benefit of Eric Salzberg (son). Deborah Ratner disclaims any beneficial interest.

5. Albert Ratner Remainder Interest Trust - 316,128 shares for the benefit of Anna Salzberg (daughter), and 316,129 shares for the benefit of Eric Salzberg (son). Deborah Ratner disclaims any beneficial interest.

6. Deborah Ratner-Salzberg Family Trust dated 12/29/1986 - 35,000 shares for the benefit of Anna Salzberg (daughter) and 35,000 shares for the benefit of Eric Salzberg (son). Deborah Ratner dsiclaims any beneficial interest.

7. General Partnership interest in RMS, Ltd. an Ohio limited partnershjp.

8. U/A Deborah Ratner-Salzberg Trust dated 2/09/1987 - limited partnership interest in RMS, Ltd. limited partnership.

9. U/A Deborah Ratner-Salzberg Trust dated 2/09/1987 - FCE Management, L.P. limited partnership interest in RMS, Ltd. limited partnership. Off by 1 share due to rounding of fractional share values.

10. Deborah Ratner Salzberg 2001 Trust. - FCE Management, L.P. limited partnership interest. 46,994 shares for the benefit of Anna Salzberg (daughter) and 46,994 shares for the benefit of Eric Salzberg (son). Deborah Ratner dsiclaims any beneficial interest.

11. Albert B. Ratner 1986 Grandchildrens Trust - for the benefit of Anna Salzberg (daughter). Deborah Ratner disclaims any beneficial interest.

12. Deborah Ratner 1986 Family Trust - as limited partner in RMS, Ltd., for the benefit of Anna Salzberg (daughter) 3,201 and Eric Salzberg (son) 3,201. Deborah Ratner disclaims any beneficial interest.

13. Deborah Ratner 1989 Irrevocable Trust - 70,200 shares for the benefit of Anna Salzberg (daughter), and 70,200 shares for the benefit of Eric Salzberg (son). Deborah Ratner disclaims any beneficial interest.

14. Anna Salzberg (daughter) shares held in street account at McDonald Investments as limited partner in RMS, Ltd.

15. Albert B. Ratner 1989 Grandchildrens Trust - as limited partner in RMS, Ltd., for the benefit of Anna Salzberg (daughter). Deborah Ratner disclaims any beneficial interest. Change in shares due to re-alocation of partnership interest, Trust essentially owns the same number of shares.

16. Albert B. Ratner 1987 Family Trust - as limited partner in FCE Management, L.P. limited partnership interest in RMS, Ltd., for the benefit of Eric Salzberg (son). Deborah Ratner disclaims any beneficial interest.

17. Albert B. Ratner 1989 Grandchildrens Trust - as limited partner in RMS, Ltd., for the benefit of Eric Salzberg (son). Deborah Ratner disclaims any beneficial interest. Change in shares due to re-alocation of partnership interest, Trust essentially owns the same number of shares.

18. Albert B. Ratner 1989 Grandchildrens Trust - limited partnership interest in FCE Management, L.P. limited partner of RMS, Ltd., for the benefit of Anna Salzberg (daughter). Deborah Ratner disclaims any benefical interest. Off by 1 share due to rounding of fractional share values.

19. Albert B. Ratner 1989 Grandchildrens Trust - limited partnership interest in FCE Management, L.P. limited partner of RMS, Ltd., for the benefit of Eric Salzberg (son). Deborah Ratner disclaims any beneficial interest. Starting value was off due to gift that was reported on last years Form 5 but shares were not added to total holdings.

20. Albert B. Ratner 1999 Revocable Trust- limited partnership interest in FCE Management, L.P. limited partner of RMS, Ltd.; 185,259 shares for the benefit of Anna Salzberg (daughter), and 185,260 shares for the benefit of Eric Salzberg (son). Deborah Ratner disclaims any benefical interest.

21. 2001 Stock Option Grant - 25% exercisable 3/08/2003; 25% exercisable 3/08/2004; and 50% exercisable 3//08/2005.

22. 2003 Stock Option Grant - 25% exercisable 3/17/2005; 25% exercisable 3/17/2006; and 50% exercisable 3/17/2007.

23. 2005 Stock Option Grant - 25% exercisable 4/06/2007; 25% exercisable 4/06/2008; and 50% exersicable 4/06/2009.

24. 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.

25. Transferred shares from U/A Deborah Ratner-Salzberg Trust dated 2/09/1987 to personal account.

Remarks:

	Geralyn M. Presti, Attorney-in-Fact for Deborah Ratner-Salzberg	03/17/2006
	** Signature of Reporting Person	Date
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