SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
CAMPO RICHARD J
(Last) (First) (Middle)
4608 RYE STREET
STE 1500
(Street)
HOUSTON TX 77027
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
CAMDEN PROPERTY TRUST [ (CPT) ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
Chairman, Board of Trust Mgr &
3. Date of Earliest Transaction (Month/Day/Year)
11/17/2003
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Shares of Beneficial Interest 11/17/2003 M 30,000 A $34.59 520,308 D
Common Shares of Beneficial Interest 11/17/2003 F 24,760 D $41.91 495,548 D
Common Shares of Beneficial Interest 11/17/2003 J(1) 4,735 D (1) 490,813 D
Common Shares of Beneficial Interest 11/17/2003 M 210,748 A $30.75 701,561 D
Common Shares of Beneficial Interest 11/17/2003 F 154,629 D $41.91 546,932 D
Common Shares of Beneficial Interest 11/17/2003 J(2) 56,119 D (2) 490,813 D
Common Shares of Beneficial Interest 11/17/2003 M 3,252 A $30.75 494,065 D
Common Shares of Beneficial Interest 11/17/2003 F 2,386 D $41.91 491,679 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to purchase)(3) $34.59 11/17/2003 M(3) 30,000 02/15/2003 02/15/2012 Common Shares of Beneficial Interest 30,000 $0 1,210,510 D
Employee Stock Option (right to purchase) $41.91 11/17/2003 A 24,760 11/17/2006 11/17/2013 Common Shares of Beneficial Interest 24,760 $0 1,235,270 D
Options to purchase common shares (1) 11/17/2003 J(1) 7,153 11/17/2004 11/17/2023 Common Shares of Beneficial Interest 7,153 $0 1,242,423 D
Employee Stock Option (right to purchase)(4) $30.75 11/17/2003 M 210,748 06/19/2003 06/19/2010 Common Shares of Beneficial Interest 210,748 $0 1,031,675 D
Options to purchase common shares (2) 11/17/2003 J(2) 62,354 11/17/2004 11/17/2023 Common Shares of Beneficial Interest 62,354 $0 1,094,029 D
Employee Stock Option (right to purchase)(4) $30.75 11/17/2003 M 3,252 06/19/2003 06/19/2010 Common Shares of Beneficial Interest 83,534 $0 1,090,777 D
Explanation of Responses:
1. Granted by the committee appointed in accordance with the provisions of Camden Property Trust's (the "Company") Rabbi Trust and represents the difference between the exercise price of the employee stock option described immediately above and the market price of the Shares on the date of exercise, as adjusted for the exercise price of this option (which is equal to 10% of the value of the Shares as of the date of grant).
2. Granted by the committee appointed in accordance with the provisions of the Company's Rabbi Trust and represent the difference between the exercise price of the two employee stock options described immediately above and the market price of the Shares on the date of exercise, as adjusted for the exercise price of this option (which is equal to 10% of the value of the Shares as of the date of grant) and held in the Rabbi Trust pursuant to a grant by the committee.
3. The Reporting Person acquired Shares through the exercise of vested options in accordance with the Company's 1993 Share Incentive Plan. These options vested on February 15, 2003.
4. The Reporting Person acquired Shares through the exercise of vested options in accordance with the Company's 1993 Share Incentive Plan. These options vested in equal installments in June 2001, June 2002 and June 2003.
/s/Dennis M. Steen, Attorney-In-Fact 11/19/2003
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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