EQUITY RESIDENTIAL — Director's Dealing 2016

Jan 5, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EQUITY RESIDENTIAL (EQR)
CIK: 0000906107
Period of Report: 2016-01-04

Reporting Person: Powers John (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-04	Common Shares Of Beneficial Interest	M	390	$53.50	Acquired	1954.7004	Direct
2016-01-04	Common Shares Of Beneficial Interest	S	390	$80.287	Disposed	1564.7004	Direct
2016-01-04	Common Shares Of Beneficial Interest	M	5607	$53.50	Acquired	7171.7004	Direct
2016-01-04	Common Shares Of Beneficial Interest	S	5607	$80.239	Disposed	1564.7004	Direct
2016-01-04	Common Shares Of Beneficial Interest	M	5989	$38.57	Acquired	7553.7004	Direct
2016-01-04	Common Shares Of Beneficial Interest	S	5989	$80.267	Disposed	1564.7004	Direct
2016-01-04	Common Shares Of Beneficial Interest	M	2592	$38.57	Acquired	4156.7004	Direct
2016-01-04	Common Shares Of Beneficial Interest	S	2592	$80.224	Disposed	1564.7004	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-01-04	Non-qualified Stock Option (Right to Buy)	$53.50	M	390	Disposed	2017-02-08	Common Shares Of Beneficial Interest (390)	Direct
2016-01-04	Non-qualified Stock Option (Right to Buy)	$53.50	M	5607	Disposed	2017-02-08	Common Shares Of Beneficial Interest (5607)	Direct
2016-01-04	Non-qualified Stock Option (Right to Buy)	$38.57	M	5989	Disposed	2018-02-07	Common Shares Of Beneficial Interest (5989)	Direct
2016-01-04	Non-qualified Stock Option (Right to Buy)	$38.57	M	2592	Disposed	2018-02-07	Common Shares Of Beneficial Interest (2592)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares Of Beneficial Interest	300.9984	Indirect

Footnotes

F1: The price represents the weighted average price of the shares sold. The shares were sold within a range of $80.286 to $80.288. 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.

F2: The price represents the weighted average price of the shares sold. The shares were sold within a range of $80.230 to $80.250. 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 $80.266 to $80.270. 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 $80.22 to $80.235. 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: 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 October 12, 2015.

F6: Represents share options which vested in three equal installments on February 8, 2008, February 8, 2009 and February 8, 2010.

F7: Represents share options which vested in approximately three equal installments on February 7, 2009, February 7, 2010 and February 7, 2011.