X0201 4 2004-02-23 0 0001013794 ARDEN REALTY INC ARI 0001191421 SOBEL ANDREW J 11601 WILSHIRE BOULEVARD 4TH FLOOR LOS ANGELES CA 90025-1740 0 1 0 0 Exec VP-Strategic Plan. & Ops Common stock 2004-02-23 4 M 0 26666.0000 26.8000 A 157008.0000 D Common stock 2004-02-23 4 S 0 26666.0000 31.8367 D 130342.0000 D Common stock 2004-02-23 4 M 0 8833.0000 25.6000 A 139175.0000 D Common stock 2004-02-23 4 S 0 8833.0000 31.8367 D 130342.0000 D Common stock 2004-02-23 4 M 0 8040.0000 20.8100 A 138382.0000 D Common stock 2004-02-23 4 S 0 8040.0000 31.8367 D 130342.0000 D Stock option (right to buy) 26.8000 2004-02-23 4 M 0 26666.0000 0 D 2002-07-02 2011-07-02 common stock 26666.0000 13334.0000 D Stock option (right to buy) 25.6000 2004-02-23 4 M 0 8833.0000 0 D 2003-02-14 2012-02-14 common stock 8833.0000 17667.0000 D Stock option (right to buy) 20.8100 2004-02-23 4 M 0 8040.0000 0 D 2004-01-28 2013-01-28 common stock 8040.0000 32160.0000 D Option vests in three (3) equal annual installments commencing on July 2, 2002. Option vests in three (3) equal annual installments commencing on February 14, 2003. Option vests in five (5) equal annual installments commencing on January 28, 2004. /s/ Andrew J. Sobel 2004-02-24