X0303 4 2009-12-21 0000910612 CBL & ASSOCIATES PROPERTIES INC CBL 0000936808 LEBOVITZ CHARLES B 2030 HAMILTON PLACE BLVD., SUITE 500 CHATTANOOGA TN 374216000 1 1 1 Chairman and CEO Common Stock 2009-12-21 4 A 0 4211 0 A 576568.387 D Common Stock 3179168.764 I By Corporation Common Stock 12446.6078 I By Spouse Common Stock 36636.3272 I By Trust Common Units 2043-11-03 Common Stock 16974799 16974799 D Compensation increase payable in Common Stock pursuant to the Issuer's Amended and Restated Stock Incentive Plan. The Reporting Person owns a limited partnership interest in CBL & Associates Limited Partnership, a Delaware limited partnership (the Operating Partnership), that, together with the partnership interests of other limited partners in the Operating Partnership which are controlled by the Reporting Person, may be exchanged at any time for an aggregate of 16,974,799 shares of the Issuer's Common Stock (on a one-for-one basis) or cash, at the Issuer's election. The Common Units are exerciseable on a 1 to 1 ratio with no exercise price. Immediately exercisable. /s/ Charles B. Lebovitz 2009-12-22