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^*

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. Date of Earliest Transaction (Month/Day/Year)
04/21/2009

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								643,573	I	See footnote⁽¹⁾
Class A Common Stock								3,500	I	See footnote⁽²⁾
Class A Common Stock								53,960	I	See footnote⁽³⁾
Class A Common Stock								3,192	I	See footnote⁽⁴⁾
Class A Common Stock								532,257	I	See footnote⁽⁵⁾
Class A Common Stock								70,000	I	See footnote⁽⁶⁾
Class A Common Stock								2,680	D⁽⁷⁾
Class A Common Stock	04/21/2009		A		10,303	A	$7.8	10,303	D⁽⁸⁾

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⁽²⁹⁾							08/08/1988⁽²⁹⁾	08/08/1988⁽²⁹⁾	Common Stock	900		900⁽⁹⁾	D
Class B Common - Convertible	$0⁽²⁹⁾							08/08/1988⁽²⁹⁾	08/08/1988⁽²⁹⁾	Common Stock	376,928		376,928	I	See footnote⁽¹⁰⁾
Class B Common - Convertible	$0⁽²⁹⁾							08/08/1988⁽²⁹⁾	08/08/1988⁽²⁹⁾	Common Stock	278,750		278,750	I	See footnote⁽¹¹⁾
Class B Common - Convertible	$0⁽²⁹⁾							08/08/1988⁽²⁹⁾	08/08/1988⁽²⁹⁾	Common Stock	93,988		93,988	I	See footnote⁽¹²⁾
Class B Common - Convertible	$0⁽²⁹⁾							08/08/1988⁽²⁹⁾	08/08/1988⁽²⁹⁾	Common Stock	148,800		148,800	I	See footnote⁽¹³⁾
Class B Common - Convertible	$0⁽²⁹⁾							08/08/1988⁽²⁹⁾	08/08/1988⁽²⁹⁾	Common Stock	6,402		6,402	I	See footnote⁽¹⁴⁾
Class B Common - Convertible	$0⁽²⁹⁾							08/08/1988⁽²⁹⁾	08/08/1988⁽²⁹⁾	Common Stock	140,400		140,400	I	See footnote⁽¹⁵⁾
Class B Common - Convertible	$0⁽²⁹⁾							08/08/1988⁽²⁹⁾	08/08/1988⁽²⁹⁾	Common Stock	5,040		5,040	I	See footnote⁽¹⁶⁾
Class B Common - Convertible	$0⁽²⁹⁾							08/08/1988⁽²⁹⁾	08/08/1988⁽²⁹⁾	Common Stock	81,940		81,940	I	See footnote⁽¹⁷⁾
Class B Common - Convertible	$0⁽²⁹⁾							08/08/1988⁽²⁹⁾	08/08/1988⁽²⁹⁾	Common Stock	81,936		81,936	I	See footnote⁽¹⁹⁾
Class B Common - Convertible	$0⁽²⁹⁾							08/08/1988⁽²⁹⁾	08/08/1988⁽²⁹⁾	Common Stock	58,932		58,932	I	See footnote⁽¹⁸⁾
Class B Common - Convertible	$0⁽²⁹⁾							08/08/1988⁽²⁹⁾	08/08/1988⁽²⁹⁾	Common Stock	33,805		33,805	I	See footnote⁽²⁰⁾
Class B Common - Convertible	$0⁽²⁹⁾							08/08/1988⁽²⁹⁾	08/08/1988⁽²⁹⁾	Common Stock	124,211		124,211	I	See footnote⁽²¹⁾
Class B Common - Convertible	$0⁽²⁹⁾							08/08/1988⁽²⁹⁾	08/08/1988⁽²⁹⁾	Common Stock	515,498		515,498	I	See footnote⁽²²⁾
2003 Stock Option Grant (right to buy)	$15.5							03/17/2005⁽²³⁾	03/17/2013	Class A Common	15,600		15,600	D
2005 Stock Option Grant (right to buy)	$31.75							04/06/2007⁽²⁴⁾	04/06/2015	Class A Common	15,000		15,000	D⁽²⁴⁾
2006 Stock Option Grant (right to buy)	$46.37							04/04/2008⁽²⁵⁾	04/04/2016	Class A Common	15,000		15,000	D⁽²⁵⁾
2007 Stock Option Grant (right to buy)	$65.35							03/29/2009⁽²⁶⁾	03/29/2017	Class A Common	15,000		15,000	D⁽²⁶⁾
2008 Stock Option Grant (right to buy)	$36.38							06/18/2010⁽²⁷⁾	06/18/2018	Class A Common	9,599		9,599	D⁽²⁷⁾
2009 Stock Option Grant (right to buy)	$7.8	04/21/2009		A		4,800		04/21/2011	04/21/2019	Class A Common	4,800	$0	4,800	D⁽²⁸⁾

Explanation of Responses:

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

2. Deborah Ratner Salzberg 2001 Trust.

3. Michael Salzberg (spouse) shares held directly.

4. Albert B. Ratner 1989 Grandchildren's Trust - for the Benefit of Anna Salzberg (daughter) 1,596 and Eric Salzberg (son) 1,596. Deborah Ratner-Salzberg disclaims any beneficial interest.

5. Albert Ratner Remainder Interest Trust - for the benefit of Anna Salzberg (daughter) 266,128 and Eric Salzberg (son) 266,129. Deborah Ratner-Salzberg disclaims any beneficial interest.

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

7. 2008 Restricted Stock Grant - 25% vest on 6/18/2010; 25% vest on 6/18/2011; and 50% vest on 6/18/2012.

8. 2009 Restricted Stock Grant - 25% vest on 4/21/2011; 25% vest on 4/21/2012; and 50% vest on 4/21/2013.

9. General Partnership interest in RMS, Ltd., an Ohio limited partnership.

10. U/A Deborah Ratner-Salzberg Trust dated 2/09/1987 - limited partnership interest in RMS, Ltd. limited partnership. Shares from the Faye Ratner Trust were merged into this trust 12/31/04.

11. U/A Deborah Ratner-Salzberg Trust dated 2/09/1987 - FCE Management, L.P. limited partnership interest in RMS, Ltd. limited partnership.

12. Deborah Ratner Salzberg 2001 Trust. - FCE Management, L.P. limited partnership interest.

13. Albert B. Ratner 1986 Grandchildren's Trust - for the benefit of Anna Salzberg (daughter). Deborah Ratner-Salzberg disclaims any beneficial interest.

14. Deborah Ratner 1986 Family Trust - as limited partner in RMS, Ltd., for the benefit of Anna Salzberg (daughter) 3,200 and Eric Salzberg (son) 3,202. Deborah Ratner-Salzberg disclaims any beneficial interest.

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

16. Anna Salzberg (daughter), shares are held in street account at UBS Financial Services as limited partner in RMS, Ltd.

17. Albert B. Ratner 1989 Grandchildren's Trust - a limited partner in RMS, Ltd., for the benefit of Anna Salzberg (daughter). Deborah Ratner-Salzberg disclaims any beneficial interest.

18. Albert B. Ratner 1987 Family Trust - a limited partner in RMS, Ltd.; for the benefit of Eric Salzberg (son). Deborah Ratner-Salzberg disclaims any beneficial interest.

19. Albert B. Ratner 1989 Grandchildren's Trust - a limited partner in RMS, Ltd., for the benefit of Eric Salzberg (son). Deborah Ratner-Salzberg disclaims any beneficial interest.

20. Albert B. Ratner 1989 Grandchildren's Trust - limited partnership interest in FCE Management, L.P., limited partner of RMS, Ltd., for the benefit of Anna Salzberg (daughter) . Deborah Ratner-Salzberg disclaims any beneficial interest.

21. Albert B. Ratner 1989 Grandchildren's Trust - limited partnership interest in FCE Management, L.P., limited partner of RMS, Ltd., for the benefit of Eric Salzberg (son). Deborah Ratner-Salzberg disclaims any beneficial interest.

22. Albert B. Ratner 1999 Revocable Trust- limited partnership interest in FCE Management, L.P. limited partner of RMS, Ltd.; 255,222 shares for the benefit of Anna Salzberg (daughter), and 260,267 shares for the benefit of Eric Salzberg (son). Deborah Ratner-Salzberg disclaims any benefical interest. Debroah Ratner serves as an advisor to the trust. Change in share value due to equalization and re-allocation of assetts held by the trust (trust has shares that are allocated to other beneficiaries). No monies were tendered

23. 2003 Stock Option Grant - 25% exercisable 3/17/2005; 25% exercisable 3/17/2006; and 50% exercisable 3/17/2007.

24. 2005 Stock Option Grant - 25% exercisable 4/06/2007; 25% exercisable 4/06/2008; and 50% exercisable 4/06/2009.

25. 2006 Stock Option Grant - 25% exercisable 4/04/2008; 25% exercisable 4/04/2009; and 50% exercisable 4/04/2010.

26. 2007 Stock Option Grant - 25% exercisable 3/29/2009; 25% exercisable 3/29/2010; and 50% exercisable 3/29/2011.

27. 2008 Stock Option Grant - 25% exercisable 6/18/2010; 25% exercisable 6/18/2011; and 50% exercisable 6/18/2012.

28. 2009 Stock Option Grant - 25% exercisable 4/21/2011; 25% exercisable 4/21/2012; and 50% exercisable 4/21/2013.

29. 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.

Remarks:

	Geralyn M. Presti, Attorney-In-Fact for Deborah Ratner-Salzberg	04/23/2009
	** 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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