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| FORM 4 | U.S. SECURITIES AND EXCHANGE COMMISSION | OMB APPROVAL |
----------------------------- Washington, D.C. 20549 |----------------------------
[_] Check this box | OMB Number: 3235-0287 |
if no longer subject STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES | Expires: January 31, 2005 |
to Section 16. Form 4 | Estimated average burden |
or Form 5 obligations Filed pursuant to Section 16(a) of the Securities Exchange | hours per response....0.5 |
may continue. See Act of 1934, Section 17(a) of the Public Utility Holding -----------------------------
Instruction 1(b). Company Act of 1935 or Section 30(h) of the
Investment Company Act of 1940
(Print or Type Responses)
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| 1. Name and Address of | 2. Issuer Name and Ticker or Trading Symbol| 6. Relationship of Reporting Person(s) |
| Reporting Person* | | to Issuer (Check all applicable) |
| | ("LXP") | |
| Eglin Thomas Wilson | Lexington Corporate Properties Trust | |X| Director | | 10% Owner |
| ------------------------------------------ | |X| Officer (give title | | Other (specify |
--------------------------------------- 3. IRS | 4. Statement for | below) below) |
| (Last) (First) (Middle) | Identification | Month/Day/Year| |
| | Number of | | CEO, President & Chief Operating Officer
| | Reporting | January 31, 2003 |
| 355 Lexington Avenue, 14th Floor | Person, if an --------------------------------------------------------------------
| | entity | 5. If Amendment, | 7. Individual or Joint/Group Filing |
--------------------------------------- (voluntary) | Date of Orig- | (Check Applicable Line) |
| (Street) | | inal (Month/ | |
| | | Day/Year) | |X| Form filed by One Reporting Person |
| New York, NY 10017 | | | | | Form filed by More than One Reporting |
| | | | Person |
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| (City) (State) (Zip) | Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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| 1. | 2. | 2A. | 3. | 4. | 5. | 6. | 7. |
| Title of Security | Trans- | Deemed | Trans- | Securities Acquired (A) | Amount of | Owner- | Nature of|
| (Instr. 3) | action | Execu- | action | or Disposed of (D) | Securities | ship | Indirect |
| | Date | tion | Code | (Instr. 3, 4 and 5) | Beneficially | Form: | Bene- |
| | | Date, | Instr. 8) | | Owned Follow- | Direct | ficial |
| | (Month/ | if any --------------------------------------------------- ing Reported | (D) or | Owner- |
| | Day/ | (Month/ | | | |(A)| | Transaction(s)| Indirect | ship |
| | Year) | Day/ | | | |or | | (Instr. 3 | (I) | (Instr. |
| | | Year) | Code | V | Amount |(D)| Price | and 4) | (Instr.4) | 4) |
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|Common Stock | 1/31/03 | | M | | 11,250 | A | $12.125 | | D | |
|Common Stock | 1/31/03 | | F1 | | 8,446 | D| 16.15 | | D | |
|Common Stock | 1/31/03 | | M | | 17,685 | A | 11.8125 | | D | |
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|Common Stock | 1/31/03 | | F1 | | 12,935 | D | 16.15 | | D | |
|Common Stock | 1/31/03 | | T | | 92,223 | A | 16.15 | 352,828 | D | |
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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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Page 1 of 3 Pages
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| FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned |
| (e.g., puts, calls, warrants, options, convertible securities) |
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|1. |2. |3. |3A. |4. |5. |6. |
|Title of Derivative Security |Conversion |Trans- |Deemed |Trans- |Number of Derivative Securities |Date Exer- |
|(Instr. 3) |or Exercise|action |Execu- |action |Acquired (A) or Disposed of (D) |cisable and |
| |Price of |Date |tion |Code |(Instr. 3, 4 and 5) |Expiration |
| |Derivative |(Month/ |Date, |(Instr.| |Date |
| |Security |Day/ |if any | 8) | |(Month/Day/ |
| | |Year) |(Month/ | | |Year) |
| | | |Day/ | | |------------------
| | | |Year) | | |Date |Expi- |
| | | | |-----------------------------------------------|Exer- |ra- |
| | | | | | | | |cis- |tion |
| | | | | Code|V| (A) | (D) |able |Date |
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| Non-Qualified Stock Option | $12.125 | 1/31/03| | M | | | 11,250 | 1/25/00| 1/25/04|
| Non-Qualified Stock Option | 11.8125 | 1/31/03| | M | | | 17,685 | 1/3/01 | 1/3/06 |
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Page 2 of 3 Pages
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| FORM 4 (continued) Table II (continued) -- Derivative Securities Acquired, Disposed of, or Beneficially Owned |
| (e.g., puts, calls, warrants, options, convertible securities)
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|1. |7. |8. |9. |10. |11. |
|Title of Derivative Security |Title and Amount of Underlying |Price of |Number of Derivative |Ownership|Nature of |
|(Instr. 3) |Securities (Instr. 3 and 4) |Derivative |Securities Bene- |Form of |Indirect |
| | |Security |ficially Owned |Deriv- |Beneficial |
| | |(Instr. 5) |Following Reported |ative |Ownership |
| | | |Transaction(s) |Security:|(Instr. 4) |
| | | |(Instr. 4) |Direct | |
| | | | |(D) or | |
| |----------------------------------------| | |Indirect | |
| | | Amount or | | |(I) | |
| | | Number of | | |(Instr. | |
| | Title | Shares | | |4) | |
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| Non-Qualified Stock Option | Common Stock | 11,250 | | | D | |
| Non-Qualified Stock Option | Common Stock | 17,685 | | 75,000 | D | |
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Explanation of Responses:
| F1 Payment of option exercise by withholding securities incident to exercise of options issued in accordance with Rule 16b-3.
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** Intentional misstatements or omissions of facts ----/S/ T. Wilson Eglin -------- -----January 31, 2003---
constitute Federal Criminal Violations. See 18 U.S.C. **Signature of Reporting Person Date
1001 and 15 U.S.C. 78ff(a). By: Dianne R. Smith, A.I.F.
Page 3 of 3 Pages