X0304 4 2012-02-29 0 0000921112 LIBERTY PROPERTY TRUST LRY 0001248361 ALBURGER GEORGE J JR C/O LIBERTY PROPERTY TRUST 500 CHESTERFIELD PARKWAY MALVERN PA 19355 0 1 0 0 Exec. VP, CFO Common Shares of Beneficial Interest ($0.001 par value) 2012-02-29 4 M 0 25649 31.22 A 203728 D Common Shares of Beneficial Interest ($0.001 par value) 2012-02-29 4 S 0 25649 33.9127 D 178079 D Employee Stock Option (Right to Buy) 31.22 2012-02-29 4 M 0 25649 D 2013-02-28 Common Shares 25649 0 D Represents the weighted average of a range of sale prices per share from $33.91 to $34.02. The reporting person undertakes to provide to the Staff of the Securities and Exchange Commission, the Company or any shareholder of the Company, upon request, full information regarding the number of common shares sold at each separate price. Options became exercisable 20% after the first anniversary of the date of the grant, 50% after the second anniversary and fully after the third anniversary. Options received as employment compensation. George J. Alburger, Jr. by James J. Bowes as Attorney-in-Fact 2012-03-02