EQUITY RESIDENTIAL — Director's Dealing 2011

Jun 20, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EQUITY RESIDENTIAL (EQR)
CIK: 0000906107
Period of Report: 2011-06-16

Reporting Person: SPECTOR GERALD A (Director, Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-06-16	Common Shares Of Beneficial Interest	A	742	—	Acquired	269177.8093	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-06-16	Non-qualified Stock Option (Right to Buy)	$58.89	A	4955	Acquired	2021-06-16	Common Shares Of Beneficial Interest (4955)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares Of Beneficial Interest	3473	Indirect
Common Shares Of Beneficial Interest	25015	Indirect
Common Shares Of Beneficial Interest	9581	Indirect
Common Shares Of Beneficial Interest	67594	Indirect

Footnotes

F1: Represents restricted shares scheduled to vest on June 16, 2012 (for prospective service from the 2011 Annual Meeting of Shareholders to the 2012 Annual Meeting of Shareholders).

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

F3: Represents shares beneficially owned by Mr. Spector as custodian for his minor children. Mr. Spector disclaims beneficial ownership of said shares.

F4: Represents shares held by the Spector Family Dynasty Trust (the "SFDT"). Mr. Spector is the sole trustee of the SFDT and, as such, may be deemed the beneficial owner of the shares reported herein.

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 shares beneficially owned by Mr. Spector's spouse. Mr. Spector disclaims beneficial ownership of said shares.

F7: Represents options granted for prospective service from the 2011 Annual Meeting of Shareholders to the 2012 Annual Meeting of Shareholders.