Elme Communities — Director's Dealing 2011

Feb 23, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WASHINGTON REAL ESTATE INVESTMENT TRUST (WRE)
CIK: 0000104894
Period of Report: 2011-02-17

Reporting Person: Paukstitus Michael S (Senior V. P. of Real Estate)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-17	Common Stock	A	1359	—	Acquired	21987.2	Direct
2011-02-17	Common Stock	A	100	—	Acquired	22087.2	Direct
2011-02-17	Common Stock	F	39	—	Disposed	22048.2	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-17	Restricted Stock Unit	$	A	8700	Acquired		Common Stock (8700)	Direct
2011-02-17	Restricted Stock Unit	$	A	6400	Acquired		Common Stock (6400)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5050	Indirect
Common Stock	350	Indirect

Footnotes

F1: Restricted Share Award that vests ratably over 3 years on 1/1/12, 1/1/13 and 1/1/14.

F2: These are additional shares issued with respect to Performance Share Units awarded pursuant to the Washington Real Estate Investment Trust 2007 Omnibus Long-Term Incentive Plan for the 2008-2010 performance period based on final results (and related withholding to cover required tax.)

F3: Performance Stock Units were converted into Restricted Stock Units on February 17, 2011. 100% of the RSU award will vest on December 31, 2011.

F4: Performance Stock Units were converted into Restricted Stock Units on February 17, 2011. 100% of the RSU award will vest on December 31, 2012.