SEC FORM 4

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^*

SILVERS GREGORY K

(Last)

(First)

(Middle)

30 W PERSHING RD

STE 201

(Street)

KANSAS CITY

64108

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
ENTERTAINMENT PROPERTIES TRUST [ epr ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	VP, CDO & General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
05/19/2005

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Shares of Beneficial Interest	05/19/2005		C		7,100	A	$18.1875	76,310	D
Common Shares of Beneficial Interest	05/19/2005		C		24,000	A	$14.125	100,310	D
Common Shares of Beneficial Interest	05/19/2005		C		16,889	A	$16.05	117,199	D
Common Shares of Beneficial Interest	05/19/2005		C		18,000	A	$22.9	135,199	D
Common Shares of Beneficial Interest	05/19/2005		C		24,179	A	$24.86	159,378	D
Common Shares of Beneficial Interest	05/19/2005		S		56,460⁽¹⁾	D	$45.45⁽¹⁾	102,918	D
Common Shares of Beneficial Interest	05/19/2005		A		6,413	A	⁽²⁾	109,331	D
Common Shares of Beneficial Interest	05/19/2005		C		7,052	A	⁽³⁾	113,307⁽⁴⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Option to Purchase Common Shares of Beneficial Interest	$18.1875	05/19/2005		C			7,100	12/01/1999	12/01/2008	Common Shares of Beneficial Interest	7,100	$18.1875	150,439	D
Option to Purchase Common Shares of Beneficial Interest	$14.125	05/19/2005		C			24,000	01/13/2001	01/13/2010	Common Shares of Beneficial Interest	24,000	$14.125	126,439	D
Option to Purchase Common Shares of Beneficial Interest	$16.05	05/19/2005		C			16,889	05/09/2002	05/09/2011	Common Shares of Beneficial Interest	16,889	$16.05	109,550	D
Option to Purchase Common Shares of Beneficial Interest	$22.9	05/19/2005		C			18,000	04/09/2003	04/09/2012	Common Shares of Beneficial Interest	18,000	$22.9	91,550	D
Option to Purchase Common Shares of Beneficial Interest	$24.86	05/19/2005		C			24,179	03/11/2004	03/11/2013	Common Shares of Beneficial Interest	24,179	$24.86	67,371	D

Explanation of Responses:

1. Assigned to Company in payment of exercised price for options exercised and associated tax withholding payments.

2. At the election of the Reporting Person, the Common Shares of Beneficial Interest were issued in lieu of a cash bonus and vest in three annual installments beginning January 1, 2006.

3. The Common Shares of Beneficial Interest were granted to the Reporting Person as long-term compensation and vest in five annual installments beginning Janauary 1, 2006.

4. The total amount of securities beneficially owned at the end of the month has been reduced by 3,076 shares to reflect the withholding of shares from a restricted share award in payment of withholding taxes related to the award which vested in January 2005.

	/s/ Gregory K. Silvers	05/19/2005
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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