EQUITY RESIDENTIAL — Director's Dealing 2012

Jun 18, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EQUITY RESIDENTIAL (EQR)
CIK: 0000906107
Period of Report: 2012-06-14

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-06-14	Common Shares Of Beneficial Interest	M	12300	$31.76	Acquired	37315	Indirect
2012-06-14	Common Shares Of Beneficial Interest	S	12300	$62.0212	Disposed	25015	Indirect
2012-06-15	Common Shares Of Beneficial Interest	M	1709	$31.76	Acquired	26724	Indirect
2012-06-15	Common Shares Of Beneficial Interest	S	1709	$62.0497	Disposed	25015	Indirect
2012-06-18	Common Shares Of Beneficial Interest	M	73491	$31.76	Acquired	98506	Indirect
2012-06-18	Common Shares Of Beneficial Interest	S	73491	$62.1295	Disposed	25015	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-06-14	Non-qualified Stock Option (Right to Buy)	$31.76	M	12300	Disposed	2015-02-03	Common Shares Of Beneficial Interest (12300)	Indirect
2012-06-15	Non-qualified Stock Option (Right to Buy)	$31.76	M	1709	Disposed	2015-02-03	Common Shares Of Beneficial Interest (1709)	Indirect
2012-06-18	Non-qualified Stock Option (Right to Buy)	$31.76	M	73491	Disposed	2015-02-03	Common Shares Of Beneficial Interest (73491)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares Of Beneficial Interest	269632.0523	Direct
Common Shares Of Beneficial Interest	3472	Indirect
Common Shares Of Beneficial Interest	9581	Indirect
Common Shares Of Beneficial Interest	71132	Indirect

Footnotes

F1: 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.

F2: The price represents the weighted average price of the shares sold. The shares were sold within a range of $62.00 to $62.09. 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: The price represents the weighted average price of the shares sold. The shares were sold within a range of $62.00 to $62.17. 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.

F4: The price represents the weighted average price of the shares sold. The shares were sold within a range of $62.00 to $62.40. 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.

F5: Direct total includes restricted shares of the Company scheduled to vest in the future.

F6: Represents shares beneficially owned by Mr. Spector as custodian for his minor children. Mr. Spector disclaims beneficial ownership of said shares.

F7: Represents shares owned by Principal Trust Company, as Trustee of the Equity Residential Supplemental Executive Retirement Plan, for the benefit of the reporting person.

F8: Represents shares beneficially owned by Mr. Spector's spouse. Mr. Spector disclaims beneficial ownership of said shares except to the extent of his pecuniary interest therein.

F9: Represents share options scheduled to vest in approximately three equal installments on February 3, 2006, February 3, 2007 and February 3, 2008.

F10: The share options reported on this line are 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 these share options.

F11: The share options reported on this line are 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 these share options.

F12: The share options reported on this line are 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 these share options.