GETTY REALTY CORP /MD/ — Director's Dealing 2003

Sep 25, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GETTY REALTY CORP /MD/ (GTY)
CIK: 0001052752
Period of Report: 2003-09-24

Reporting Person: SHEA KEVIN C (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-24	Common Stock	M	4000	$17.19	Acquired	7977	Direct
2003-09-24	Common Stock	M	670	$24.06	Acquired	8647	Direct
2003-09-24	Common Stock	M	2232	$24.06	Acquired	10879	Direct
2003-09-24	Common Stock	M	1000	$11.13	Acquired	11879	Direct
2003-09-24	Common Stock	M	5000	$14.50	Acquired	16879	Direct
2003-09-24	Common Stock	M	5000	$16.15	Acquired	21879	Direct
2003-09-24	Common Stock	F	14028	$24.73	Disposed	7851	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-09-24	Stock Option (right to buy)	$24.06	M		Disposed	2005-12-08	Common Stock (670)	Direct
2003-09-24	Stock Option (right to buy)	$24.06	M		Disposed	2006-12-13	Common Stock (2232)	Direct
2003-09-24	Stock Option (right to buy)	$17.19	M		Disposed	2007-12-16	Common Stock (4000)	Direct
2003-09-24	Stock Option (right to buy)	$11.13	M		Disposed	2009-12-17	Common Stock (1000)	Direct
2003-09-24	Stock Option (right to buy)	$14.50	M		Disposed	2010-12-12	Common Stock (5000)	Direct
2003-09-24	Stock Option (right to buy)	$16.15	M		Disposed	2011-09-20	Common Stock (5000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	140	Indirect

Footnotes

F1: Upon the date first exercisable, 25% of the grant is vested and an additional 25% of the grant vests each year thereafter.