EQUITY RESIDENTIAL — Director's Dealing 2010

Sep 3, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EQUITY RESIDENTIAL (EQR)
CIK: 0000906107
Period of Report: 2010-09-01

Reporting Person: STROHM BRUCE C (EVP & General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-09-01	Common Shares Of Beneficial Interest	S	8296.237	$47.84	Disposed	77778.218	Indirect
2010-09-02	Common Shares Of Beneficial Interest	M	20000	$29.25	Acquired	57153	Direct
2010-09-02	Common Shares Of Beneficial Interest	S	20000	$48.00	Disposed	37153	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-09-02	Non-qualified Stock Option (Right to Buy)	$29.25	M	20000	Disposed	2014-01-27	Common Shares Of Beneficial Interest (20000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares Of Beneficial Interest	2234.1547	Indirect

Footnotes

F1: Represents shares owned by Principal Trust Company, as Trustee of the Equity Residential Supplemental Executive Retirement Plan, for the benefit of the reporting person.

F2: Direct total includes restricted shares of the Company scheduled to vest in the future.

F3: Represents shares acquired through profit sharing contributions and dividend reinvestment activity in the reporting person's account with the Equity Residential Advantage 401(k) Retirement Savings Plan, a plan qualified under Section 401(k) of the Internal Revenue Code of 1986, as amended. Such shares represent acquisitions through July 9, 2010.

F4: Represents share options scheduled to vest in three equal installments on January 27, 2005, January 27, 2006 and January 27, 2007.