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	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	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* ODEN D KEITH (Last) (First) (Middle) 3200 SOUTHWEST FRWY 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) President and COO
	3. Date of Earliest Transaction (Month/Day/Year) 10/15/2003
	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	10/15/2003		M		20,756	A	$29.438	518,195	D
Common Shares of Beneficial Interest	10/15/2003		F		15,124	D	$40.4	503,071	D
Common Shares of Beneficial Interest	10/15/2003		M		117,749	A	$28.875	620,820	D
Common Shares of Beneficial Interest	10/15/2003		M		83,534	A	$30.75	704,354	D
Common Shares of Beneficial Interest	10/15/2003		F		147,739	D	$40.4	556,615	D
Common Shares of Beneficial Interest	10/15/2003		J(4)		59,176	D	$40.4	497,439	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 Share Option (right to buy)	$29.438	10/15/2003		M			20,756	04/01/2001	04/01/2008	Common Shares of Beneficial Interest	20,756	$0	1,358,624	D
Employee Share Option (right to buy)	$40.4	10/15/2003		A		15,124		10/15/2006	10/15/2016	Common Shares of Beneficial Interest	15,124	$0	1,373,748	D
Option to purchase common shares	(1)	10/15/2003		J(1)		8,292		10/15/2003	10/15/2023	Common Shares of Beneficial Interest	8,292	$0	1,382,040	D
Employee Share Option (right to buy)(2)	$28.875	10/15/2003		M			117,749	10/01/2001	10/01/2008	Common Shares of Beneficial Interest	117,749	$0	1,264,291	D
Employee Share Option (right to buy)(3)	$30.75	10/15/2003		M			83,534	06/19/2003	06/19/2010	Common Shares of Beneficial Interest	83,534	$0	1,180,757	D
Option to purchase common shares	(4)	10/15/2003		J(4)		59,493		10/15/2004	10/15/2023	Common Shares of Beneficial Interest	59,493	$0	1,240,250	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. 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 October 1999, October 2000 and October 2001.

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 in equal installments in June 2001, June 2003 and June 2003.

4. 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 employee stock option described 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.

	/s/D. Keith Oden	10/17/2003
	** 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).
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