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 *

RATNERSALZBERG DEBORAH
2. Issuer Name and Ticker or Trading Symbol

Forest City Realty Trust, Inc. [ FCEA/FCEB ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      __ X __ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Executive Vice President
(Last)          (First)          (Middle)

301 WATER ST SE SUITE 201
3. Date of Earliest Transaction (MM/DD/YYYY)

4/8/2017
(Street)

WASHINGTON, DC 20003
(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
Class A Common Stock                  511282   I   See footnote   (1)
Class A Common Stock                  44135   I   See footnote   (2)
Class A Common Stock                  11656   I   See footnote   (2)
Class A Common Stock                  162893   I   See footnote   (3)
Class A Common Stock                  432258   I   See footnote   (4)
Class A Common Stock                  3676   I   See footnote   (5)
Class A Common Stock                  7352   I   See footnote   (6)
Class A Common Stock                  7352   I   See footnote   (7)
Class A Common Stock   4/8/2017     F    1154   D $22.26   0   D   (8)
 
Class A Common Stock                  3315   D   (9)
 
Class A Common Stock                  2876   D   (10)
 
Class A Common Stock                  5252   D   (11)
 
Class A Common Stock                  6918   D   (12)
 

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
Class B Common - Convertible   $0   (24)                  8/8/1988   (24) 8/8/1988   (24) Common Stock   782666     782666   I   See footnote   (1)
Class B Common - Convertible   $0   (24)                  8/8/1988   (24) 8/8/1988   (24) Common Stock   180     180   I   See footnote   (2)
Class B Common - Convertible   $0   (24)                  8/8/1988   (24) 8/8/1988   (24) Common Stock   100000     100000   I   See footnote   (4)
Class B Common - Convertible   $0   (24)                  8/8/1988   (24) 8/8/1988   (24) Common Stock   148800     148800   I   See footnote   (5)
Class B Common - Convertible   $0   (24)                  8/8/1988   (24) 8/8/1988   (24) Common Stock   58392     58392   I   See footnote   (6)
Class B Common - Convertible   $0   (24)                  8/8/1988   (24) 8/8/1988   (24) Common Stock   515489     515489   I   See footnote   (7)
Class B Common - Convertible   $0   (24)                  8/8/1988   (24) 8/8/1988   (24) Common Stock   900     900   (13) D  
 
Class B Common - Convertible   $0   (24)                  8/8/1988   (24) 8/8/1988   (24) Common Stock   5040     5040   I   See footnote   (14)
Class B Common - Convertible   $0   (24)                  8/8/1988   (24) 8/8/1988   (24) Common Stock   33834     33834   I   See footnote   (15)
Class B Common - Convertible   $0   (24)                  8/8/1988   (24) 8/8/1988   (24) Common Stock   33514     33514   I   See footnote   (16)
Class B Common - Convertible   $0   (24)                  8/8/1988   (24) 8/8/1988   (24) Common Stock   179140     179140   I   See footnote   (17)
2008 Stock Option Grant (right to buy)   $36.38                    6/18/2010   (18) 6/18/2018   Class A Common   9599     9599   D   (18)
 
2009 Stock Option Grant (right to buy)   $7.80                    4/21/2011   (18) 4/21/2019   Class A Common   4800     4800   D   (18)
 
2010 Stock Option Grant (right to buy)   $15.89                    4/14/2012   (18) 4/14/2020   Class A Common   8002     8002   D   (18)
 
2011 Stock Option Grant (right to buy)   $17.72                    4/13/2013   (18) 4/13/2021   Class A Common   9146     9146   D   (18)
 
2014 Performance Shares   $0                    12/31/2017   8/8/1988   (19) Class A Common   6629     6629   D   (19)
 
2015 Performance Shares   $0                    12/31/2017   8/8/1988   (20) Class A Common   5752     5752   D   (20)
 
2016 Performance Shares   $0                    12/31/2018   8/8/1988   (21) Class A Common   7002     7002   D   (21)
 
2017 Performance Shares   $0                    12/31/2019   8/8/1988   Class A Common   6918     6918   D   (22)
 
2015 Out Performance Shares   $0                    12/31/2017   8/8/1988   (23) Class A Common   14000     14000   D   (23)
 

Explanation of Responses:
(1)  U/A Deborah Ratner-Salzberg Trust dated 2/09/1987 - trust holds 511,282 Class A Common shares; Class B Common shares - 822 shares are held as a direct limited partner of RMS, Ltd; 403,844 shares are held as a limited partnersip interest in FCE Management, LP (a limited partner of RMS, Ltd.) and remaining 378,000 shares are held directly by the trust. 3,433 restricted shares vested on 4/08/2017, of those 1,154 shares were returned to the Company to cover taxes, the balance of the shares were moved to this account.
(2)  Michael Salzberg (spouse) shares held directly in street accounts.
(3)  Albert B. Ratner 1989 Grandchildren's Trust - for the Benefit of Anna Salzberg (daughter) 83,603 and Eric Salzberg (son) 79,290. Deborah Ratner-Salzberg disclaims any beneficial interest.
(4)  Albert Ratner Remainder Interest Trust - for the benefit of Anna Salzberg (daughter) 216,129 Class A shares & 50,000 Class B shares, and Eric Salzberg (son) 216,129 Class A shares & 50,000 Class B shares. Deborah Ratner-Salzberg disclaims any beneficial interest.
(5)  Albert B. Ratner 1986 Grandchildren's Trust - for the benefit of Anna Salzberg (daughter).
(6)  Albert B. Ratner 1987 Family Trust - (Class B shares are held as a limited partner in RMS, Ltd.) for the benefit of Eric Salzberg (son). Deborah Ratner-Salzberg disclaims any beneficial interest.
(7)  Albert B. Ratner 1999 Revocable Trust- 515,489 Class B shares are held as a 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. Deborah Ratner serves as an advisor to the trust. 7,352 Class A shares (3,676 - Anna & 3,676 - Eric) are not held as a limited partnership interest in FCE Management, LP.
(8)  2013 Restricted Stock Grant - 25% vest on 4/08/2015; 25% vest on 4/08/2016; and 50% vest on 4/08/2017.
(9)  2014 Restricted Stock Grant - 0% vest on 3/28/2015; 25% vest on 3/28/2016; 25% vest on 3/28/2017; and 50% vest on 3/28/2018.
(10)  2015 Restricted Stock Grant - 25% vest on 3/26/2016; 25% vest on 3/26/2017; and 50% vest on 3/26/2018.
(11)  2016 Restricted Stock Grant - 25% vest on 3/23/2017; 25% vest on 3/23/2018; and 50% vest on 3/23/2019.
(12)  2017 Restricted Stock Grant - 25% vest on 3/24/2018; 25% vest on 3/24/2019; and 50% vest on 3/24/2020.
(13)  General Partnership interest in RMS, Ltd., an Ohio limited partnership.
(14)  Anna Salzberg (daughter), shares are held in street account at UBS Financial Services as limited partner in RMS, Ltd. Deborah Ratner-Salzberg disclaims any benefical interest.
(15)  Albert B. Ratner 1989 Grandchildren's Trust - for the benefit of Anna Salzberg (daughter). Deborah Ratner-Salzberg disclaims any beneficial interest.
(16)  Albert B. Ratner 1989 Grandchildren's Trust - for the benefit of Eric Salzberg (son). Deborah Ratner-Salzberg disclaims any beneficial interest.
(17)  Albert B. Ratner 1989 Grandchildrens Trust - limited partnership interest in FCE Management, L.P. limited partner of RMS, Ltd., 44,367 shares are for the benefit of Anna Salzberg (daughter) and 134,773 shares are for the benefit of Eric Salzberg (son). Deborah Ratner-Salzberg disclaims any benefical interest.
(18)  2008 Stock Option Grant - 25% exercisable 6/18/2010; 25% exercisable 6/18/2011; and 50% exercisable 6/18/2012. 2009 Stock Option Grant - 25% exercisable 4/21/2011; 25% exercisable 4/21/2012; and 50% exercisable 4/21/2013. 2010 Stock Option Grant - 25% exercisable 4/14/2012; 25% exercisable 4/14/2013; and 50% exercisable 4/14/2014. 2011 Stock Option Grant - 25% exercisable 4/13/2013; 25% exercisable 4/13/2014; and 50% exercisable 4/13/2015.
(19)  Performance Shares Award - granted 3/28/2014 - performance period is from January 1, 2014 to December 31, 2017. Awards will be available to the grantee at the end of the performance period provided that certain performance criteria are met. The actual number of shares earned could range from 0 to 200% of the number of Performance Shares granted. Fair market value on date of grant is $18.73 per share. There is no fixed expiration date.
(20)  Performance Shares Award - granted 3/26/2015 - performance period is from January 1, 2015 to December 31, 2017. Awards will be available to the grantee at the end of the performance period provided that certain performance criteria are met. The actual number of shares earned could range from 0 to 200% of the number of Performance Shares granted. Fair market value on date of grant is $24.62 per share. There is no fixed expiration date.
(21)  Performance Shares Award - granted 3/23/2016 - performance period is from January 1, 2016 to December 31, 2018. Awards will be available to the grantee at the end of the performance period provided that certain performance criteria are met. The actual number of shares earned could range from 0 to 200% of the number of Performance Shares granted. Fair market value on date of grant is $20.94 per share. There is no fixed expiration date.
(22)  Performance Shares Award - granted 3/24/2017 - performance period is from January 1, 2017 to December 31, 2019. Awards will be available to the grantee at the end of the performance period provided that certain performance criteria are met. The actual number of shares earned could range from 0 to 200% of the number of Performance Shares granted. Fair market value on date of grant is $21.83 per share. There is no fixed expiration date.
(23)  Out Performance Shares Award - granted 3/27/2015 - performance period is from January 1, 2015 to December 31, 2017. Awards will be available to the grantee at the end of the performance period provided that certain performance criteria are met. The actual number of shares earned could range from 0 to 300% of the number of Performance Shares granted. Fair market value on date of grant is $25.31 per share. There is no fixed expiration date.
(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.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
RATNERSALZBERG DEBORAH
301 WATER ST SE SUITE 201
WASHINGTON, DC 20003
X X Executive Vice President

Signatures
J. Matthew Shady, Attorney-In-Fact for Deborah Ratner-Salzberg 4/11/2017
** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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