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*
FRIEDMAN ARTHUR M

(Last) (First) (Middle)
C/O PS BUSINESS PARKS, INC
701 WESTERN AVENUE

(Street)
GLENDALE CA 91201-2397

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
PS BUSINESS PARKS INC/CA [ PSB ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
02/29/2012
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 Stock 02/29/2012 M 1,000 A $35.43 13,000 I As Trustee (1)
Common Stock 02/29/2012 S 1,000 D $62.9 12,000 I As Trustee (1)
Common Stock 02/29/2012 M 2,000 A $32.48 14,000 I As Trustee (1)
Common Stock 02/29/2012 S 2,000 D $62.91 12,000 I As Trustee (1)
Common Stock 500 I By SEP IRA (2)
Depositary Shares Representing Series H Preferred Stock 3,385 I As Trustee (1)
Depositary Shares Representing Series I Preferred Stock 3,200 I As Trustee (1)
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
Stock Option (right to buy) $60.66 05/02/2012 05/02/2021 Common Stock 2,000 2,000 D
Stock Option (right to buy) (3) $60.82 05/03/2011 05/03/2020 Common Stock 2,000 2,000 D
Stock Option (right to buy) (3) $43.84 05/04/2010 05/04/2019 Common Stock 2,000 2,000 D
Stock Option (right to buy) (3) $57.79 05/05/2009 05/05/2018 Common Stock 2,000 2,000 D
Stock Option (right to buy) (3) $68.9 04/30/2008 04/30/2017 Common Stock 2,000 2,000 D
Stock Option (right to buy) (3) $51.25 05/01/2007 05/01/2016 Common Stock 2,000 2,000 D
Stock Option (right to buy) (3) $39.95 05/03/2006 05/03/2015 Common Stock 2,000 2,000 D
Stock Option (right to buy) (3) $39.26 05/04/2005 05/04/2014 Common Stock 2,000 2,000 D
Stock Option (right to buy) $32.48 02/29/2012 M 2,000 05/06/2004 05/06/2013 Common Stock 2,000 $0 0 D
Stock Option (right to buy) (4) $35.43 02/29/2012 M 1,000 05/14/2003 05/14/2012 Common Stock 1,000 $0 0 D
Explanation of Responses:
1. By Arthur M. Friedman as a trustee of the Friedman Family Trust.
2. By a custodian of a SEP IRA for benefit of the reporting person.
3. Stock Options granted pursuant to the 2003 Stock Option and Incentive Plan; options vest in 5 equal annual installments beginning 1 year from date of grant.
4. Stock Options granted pursuant to the 1997 Stock Option and Incentive Plan; options vest in 3 equal annual installments beginning 1 year from date of grant.
Remarks:
/s/ Stephanie G. Heim, Attorney in Fact 03/01/2012
** 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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