EASTGROUP PROPERTIES INC — Director's Dealing 2009

Mar 10, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EASTGROUP PROPERTIES INC (EGP)
CIK: 0000049600
Period of Report: 2009-03-05

Reporting Person: HOSTER DAVID H II (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-03-05	Common Stock	A	21768	—	Acquired	263272	Direct
2009-03-05	Common Stock	A	11452	—	Acquired	274724	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2430	Indirect
Common Stock	750	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$20.375	2009-06-22	Common Stock (20186)	20186	Direct

Footnotes

F1: Award of restricted shares as 2006-2008 multi-year long-term incentive compensation pursuant to the Company's 2004 Equity Incentive Plan, as amended. These restricted shares vest one-fourth on each of January 1, 2010, 2011, 2012 and 2013.

F2: Award of restricted shares as 2008 annual long-term incentive compensation pursuant to the Company's 2004 Equity Incentive Plan, as amended. These restricted shares vest one-fifth on the date of grant and one-fifth on each of January 1, 2010, 2011, 2012 and 2013.

F3: As of the date hereof, the Reporting Person's direct beneficial ownership includes 8,400 restricted shares granted under the Company's 1994 Management Incentive Plan, as amended, and 43,671 restricted shares granted under the Company's 2004 Equity Incentive Plan, as amended, that have not yet vested.

F4: All of the options are currently exercisable.