EPR PROPERTIES — Director's Dealing 2012

May 11, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ENTERTAINMENT PROPERTIES TRUST (EPR)
CIK: 0001045450
Period of Report: 2012-05-09

Reporting Person: OLSON JIM (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-09	Restricted Share Units	$	A	1345	Acquired		Common Shares of Beneficial Interest (1345)	Direct
2012-05-09	Restricted Share Units	$	A	840	Acquired		Common Shares of Beneficial Interest (840)	Direct
2012-05-09	Option to Purchase Common Shares of Beneficial Interest	$44.62	A	1093	Acquired	2022-05-09	Common Shares of Beneficial Interest (1093)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares of Beneficial Interest	6931	Direct

Footnotes

F1: Restricted Share Units were issued to Reporting Person in lieu of the Reporting Person's Annual Trustee Retainer Fee. Each Restricted Share Unit represents a contingent right to receive one common share of beneficial interest.

F2: All shares are payable upon termination of service.

F3: Restricted Share Units were issued to the Reporting Person pursuant to the Company's Equity Incentive Plan. Each Restricted Share Unit represents a contingent right to receive one common share of beneficial interest.

F4: Option to Purchase Shares were issued to the Reporting Person pursuant to the Company's Equity Incentive Plan.

F5: These shares have already been reported and do not reflect any change.