GLADSTONE COMMERCIAL CORP — Director's Dealing 2004

Jun 10, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GLADSTONE COMMERCIAL CORP (GOOD)
CIK: 0001234006
Period of Report: 2004-06-08

Reporting Person: BRUBAKER TERRY LEE (Director, Vice Chairman and COO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-06-08	Employee Stock Option	$16.10	A	30000	Acquired	2014-06-07	Common Stock (30000)	Direct

Footnotes

F1: Fifty percent of the shares underlying this option become exercisable on 6/8/2005 and the remaining fifty percent become exercisable on 6/8/2006.