CAMDEN PROPERTY TRUST — Director's Dealing 2011

Feb 23, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CAMDEN PROPERTY TRUST (CPT)
CIK: 0000906345
Period of Report: 2011-02-18

Reporting Person: STEEN DENNIS (Senior VP, Finance and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-18	Common Shares of Beneficial Interest	S	14292	$56.4475	Disposed	75240	Direct
2011-02-18	Common Shares of Beneficial Interest	A	1260	$10.5125	Acquired	76500	Direct
2011-02-18	Common Shares of Beneficial Interest	A	1033	$10.725	Acquired	77533	Direct
2011-02-18	Common Shares of Beneficial Interest	A	906	$11.38	Acquired	78439	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-18	Employee Stock Option (Right to Purchase)	$	M	1260	Disposed		Common Shares (1260)	Direct
2011-02-18	Employee Stock Option (Right to Purchase)	$	M	1033	Disposed		Common Shares (1033)	Direct
2011-02-18	Employee Stock Option (Right to Purchase)	$	M	906	Disposed		Common Shares (906)	Direct

Footnotes

F1: Granted by the committee appointed in accordance with the provisions of the issuer's Rabbi Trust, and represent the right to purchase shares at a price equal to 25% of the value of the shares at date of grant.

F2: Options to repurchase expire thirty years from date of grant. Includes 333 options, 445 options, 482 options that expire on February 15, 2031, 2032, and 2033, respectively.

F3: Options to repurchase expire thirty years from date of grant. Includes 1033 options that expire on February 15, 2034.

F4: Options to repurchase expire thirty years from date of grant. Includes 906 options that expire on February 15, 2035.