Edgar Filing: COMMERCIAL NET LEASE REALTY INC

Form 4 RAB


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	OMB APPROVAL
		OMB Number: 3235-0287 Expires: January 31, 2005 Estimated average burden hours per response. . . . 0.5
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940


1. Name and Address of Reporting Person* Bourne, Robert A. 450 South Orange Ave. Orlando, FL 32801	2. Issuer Name and Ticker or Trading Symbol Commercial Net Lease Realty, Inc. NNN		6. Relationship of Reporting Person to Issuer (Check all appropriate) X Director 10% Owner Officer (Give title below) Other (Specify below)
	3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary)	4. Statement for April 2002
		5. If Amendment, Date of Original	7. Individual of Joint/Group Filing 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. 8)	2. Transaction Date	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Owned at End of Month (Instr. 3 nd 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 8)	2. Transaction Date	Code	V	Amount	(A) or (D)	Price
Common Stock	04/24/02	M		37,500	A	$12.625	263,831	D
Common Stock	N/A						4,700	I	(1)
Common Stock	N/A						3,820	I	(2)
Common Stock	N/A						255,696	I	(3)

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. Conver-
   sion or
    Exercise
   Price of
    Deriva-
    tive
    Security

3. Transac-
tion Date

4. Transac-
     tion
      Code
   (Instr. 8)

5. Number of
   Derivative
    Securities
   Acquired (A) or
    Disposed of (D)
    (Instr. 3, 4 & 5)

6. Date Exercis-
    able and
    Expiration
    Date

7. Title and
    Amount of
    Underlying
    Securities
    (Instr. 3 & 4)

8. Price of
    Derivative
    Securities
    (Instr. 5)

9. Number of
    Derivative
     Underlying
     Securities
     Benefically
    Owned at
     End of
     Month
    (Instr. 3 & 4)

10. Ownership
     Form of
     Derivative
     Security:
     Direct (D)
     or
     Indirect (I)
      (Instr. 4)

11. Nature of
       Indirect
       Beneficial
      Ownership
      (Instr. 4)

Code

(A)

(D)

Date
Exer-
cisable

Expira-
tion
Date

Title

Amount or
Number of-
Shares

Options
(Right to buy)

$12.625

04/24/02

37,500

11/16/97

11/16/04

Common Stock

37,500

$12.625

159,667

Explanation of Responses:

(1)    Shares held by The Robert A. Bourne Irrevocable Trust #1 in which Mr. James M. Seneff, Jr. is a Trustee and
         Mr. Bourne's minor children are the beneficiaries.

(2)    Shares held by Mr. Bourne, custodian for minor children (Robert Kyle Bourne and Conner R. Bourne) UGMA.
         Mr. Bourne's minor children are the beneficiaries.

(3)    Shares held by four limited partnerships of which Mr. Seneff is a general partner. Mr. Seneff disclaims beneficial
         ownershipof these shares except to the extent of his respective shares percentage interest in each of these securities.


/s/Robert A. Bourne Signature of Reporting Person	May 9, 2002 Date
** Intentional missstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).