EQUITY RESIDENTIAL — Director's Dealing 2011

Aug 26, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EQUITY RESIDENTIAL (EQR)
CIK: 0000906107
Period of Report: 2011-08-25

Reporting Person: GEORGE ALAN W (Executive Vice President & CIO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-08-25	Common Shares Of Beneficial Interest	M	11504	$42.80	Acquired	89440.627	Direct
2011-08-25	Common Shares Of Beneficial Interest	S	11504	$58.50	Disposed	77936.627	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-08-25	Non-qualified Stock Option (Right to Buy)	$42.80	M	11504	Disposed	2016-02-03	Common Shares Of Beneficial Interest (11504)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares Of Beneficial Interest	2621.7925	Indirect
Common Shares Of Beneficial Interest	51725.247	Indirect

Footnotes

F1: 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 8, 2011.

F2: Represents shares owned by Principal Trust Company, as Trustee of the Equity Residential Supplemental Executive Retirement Plan, for the benefit of the reporting person.

F3: Represents share options scheduled to vest in approximately three equal installments on February 3, 2007, February 3, 2008 and February 3, 2009.