CAMDEN PROPERTY TRUST - Director's Dealing 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CAMDEN PROPERTY TRUST (CPT)
CIK: 0000906345
Period of Report: 2011-02-23

Reporting Person: STEWART H MALCOLM (Chief Operating Officer)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-23	Common Shares of Beneficial Interest	M	36184	$48.02	Acquired	215839	Direct
2011-02-23	Common Shares of Beneficial Interest	M	10000	$42.90	Acquired	225839	Direct
2011-02-23	Common Shares of Beneficial Interest	M	20477	$30.06	Acquired	246316	Direct
2011-02-23	Common Shares of Beneficial Interest	F	49076	$56.69	Disposed	197240	Direct
2011-02-23	Common Shares of Beneficial Interest	A	1099	$0.00	Acquired	198339	Direct
2011-02-23	Common Shares of Beneficial Interest	A	4616	$0.00	Acquired	202955	Direct
2011-02-23	Common Shares of Beneficial Interest	A	15786	$0.00	Acquired	218741	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-23	Options	$48.02	M	36184	Disposed	2018-01-30	Common Shares (36184)	Direct
2011-02-23	Options	$30.06	M	20477	Disposed	2019-01-28	Common Shares (20477)	Direct
2011-02-23	Options	$42.90	M	10000	Disposed	2014-01-29	Common Shares (10000)	Direct

F1: The shares vest 10% on each of February 23, 2012 and 2013 and 80% on February 23, 2014.

F2: The shares vest 10% on each of February 23, 2012, 2013, 2014 and 2015 and 60% on February 23, 2016.

F3: The shares vest 20% per year on each of February 23, 2012, 2013, 2014, 2015 and 2016.