EQUITY RESIDENTIAL — Director's Dealing 2011

Feb 9, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EQUITY RESIDENTIAL (EQR)
CIK: 0000906107
Period of Report: 2011-02-07

Reporting Person: Powers John (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-07	Common Shares Of Beneficial Interest	A	2294	—	Acquired	13653	Direct
2011-02-08	Common Shares Of Beneficial Interest	S	913	$53.71	Disposed	12740	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-07	Non-qualified Stock Option (Right to Buy)	$53.71	A	14743	Acquired	2021-02-07	Common Shares Of Beneficial Interest (14743)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares Of Beneficial Interest	260.8189	Indirect
Common Shares Of Beneficial Interest	11299.72	Indirect

Footnotes

F1: Represents restricted shares scheduled to vest on February 7, 2014.

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

F3: Represents the sale of shares for the payment of tax liability incurred upon the vesting of restricted shares.

F4: 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 January 14, 2011.

F5: Represents shares owned by Principal Trust Company, as Trustee of the Equity Residential Supplemental Executive Retirement Plan, for the benefit of the reporting person.

F6: Represents share options scheduled to vest in approximately three equal installments on February 7, 2012, February 7, 2013 and February 7, 2014.