EQUITY RESIDENTIAL — Director's Dealing 2010

Nov 23, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EQUITY RESIDENTIAL (EQR)
CIK: 0000906107
Period of Report: 2010-11-23

Reporting Person: WHITE B JOSEPH (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-11-23	Common Shares Of Beneficial Interest	M	5921	$23.55	Acquired	10141	Direct
2010-11-23	Common Shares Of Beneficial Interest	M	5532	$29.25	Acquired	15673	Direct
2010-11-23	Common Shares Of Beneficial Interest	S	11453	$49.4958	Disposed	4220	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-11-23	Non-qualified Stock Option (Right to Buy)	$23.55	M	5921	Disposed	2013-02-07	Common Shares Of Beneficial Interest (5921)	Direct
2010-11-23	Non-qualified Stock Option (Right to Buy)	$29.25	M	5532	Disposed	2014-01-27	Common Shares Of Beneficial Interest (5532)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares Of Beneficial Interest	56078.492	Indirect

Footnotes

F1: Direct total includes restricted shares of the Company scheduled to vest in the future.

F2: The price represents the weighted average price of the shares sold. The shares were sold within a range of $49.47 to $49.54. The reporting person will provide, upon request by the SEC staff, the issuer, or any security holder of the issuer, full information regarding the number of shares sold at each separate price.

F3: Represents shares owned by Principal Trust Company, as Trustee of the Equity Residential Supplemental Executive Retirement Plan, for the benefit of the reporting person.

F4: Represents share options scheduled to vest in approximately three equal installments on August 7, 2003, February 7, 2004 and February 7, 2005.

F5: Represents share options scheduled to vest in three equal installments on July 27, 2004, January 27, 2005 and January 27, 2006.