FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      
1. Name and Address of Reporting Person * LEBOVITZ CHARLES B 2. Issuer Name and Ticker or Trading Symbol CBL & ASSOCIATES PROPERTIES INC [ CBL ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)__X__ Director                    __X__ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
Chairman of the Board
(Last)         (First)         (Middle)
2030 HAMILTON PLACE BLVD., SUITE 500
3. Date of Earliest Transaction (MM/DD/YYYY)
5/15/2020
(Street)
CHATTANOOGA, TN 374216000
(City)       (State)       (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)
 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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  5/15/2020    S    944485  D $.2018 (1) 274565.387  D   
Common Stock  5/15/2020    S    400  D $.2132 (2) 26052  I (3) By Trust 
Common Stock                 16555808.764  I (3) By Corporation 
Common Stock                 26565.518  I (3) By Spouse 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 of Derivative Security: 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
Common Units   (4)                  (5) 11/3/2043  Common Stock  489071    489071  I (3) By Partnership 
Common Units   (4)                  (5) 11/3/2043  Common Stock  756350    756350  D   
Common Units   (4)                  (5) 11/3/2043  Common Stock  208675    208675  I (3) By Corporation 

Explanation of Responses:
(1)  These transactions were effected pursuant to a Rule 10b5-1 Trading Plan executed by the Reporting Person on March 30, 2020. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $0.1951 to $0.2100, inclusive. The Reporting Person undertakes to provide to any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information already provided to the Issuer regarding the number of shares sold at each separate price within such range. Please submit any such request through the Issuer's Chief Legal Officer, Jeffery V. Curry.
(2)  This transaction was effected pursuant to a Rule 10b5-1 Trading Plan executed by the Reporting Person, as Trustee for a trust for the benefit of his granddaughter, on March 30, 2020.
(3)  The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
(4)  The Common Units are exerciseable on a 1 to 1 ratio with no exercise price.
(5)  Immediately exercisable.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
LEBOVITZ CHARLES B
2030 HAMILTON PLACE BLVD., SUITE 500
CHATTANOOGA, TN 374216000
X X Chairman of the Board

Signatures
/s/ Jeffery V. Curry, Attorney-in-fact for Charles B. Lebovitz 5/16/2020
**Signature of Reporting Person Date
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