GLADSTONE COMMERCIAL CORP — Director's Dealing 2012

May 9, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GLADSTONE COMMERCIAL CORP (GOODN)
CIK: 0001234006
Period of Report: 2012-05-09

Reporting Person: Reilly John (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-09	7.125% Series C Cumulative Term Preferred Stock	P	2700	$25.85	Acquired	2700	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
7.125 % Series C Cumulative Term Preferred Stock	9600	Direct

Footnotes

F1: Mr. Reilly disclaims beneficial ownership of all such 2,700 shares and this report shall not be deemed an admission that Mr. Reilly is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.