X0202 3 2005-04-22 0 0000929454 GLENBOROUGH REALTY TRUST INC GLB 0001256721 GARNICK TERRI C/O GLENBOROUGH REALTY TRUST 400 SOUTH EL CAMINO REAL SAN MATEO CA 94402 0 1 0 0 CAO Common Stock 2697 D Common Stock 70 I owned by spouse Common Stock 550 I owned by daughter Common Stock 550 I owned by son Employee Stock Option (right to buy) 15.00 2006-08-02 Common Stock 28379 D Employee Stock Option (right to buy) 15.00 2006-11-15 Common Stock 7391 D The options were granted pursuant to (i) the Issuer's 1996 Stock Incentive Plan, as amended (the "Plan"), and (ii) an Incentive Stock Option Agreement (the "Agreement") between the reporting person and the Issuer. No consideration was given by the reporting person other than the terms and conditions specified in the Plan and the Agreement. 100 percent of the options vested on the second anniversary of the grant date (08/02/1996). The shares were granted pursuant to (i) the Issuer's 1996 Stock Incentive Plan, as amended (the "Plan"), and (ii) a Stock Option Agreement (the "Agreement") between the reporting person and the Issuer. No consideration was given by the reporting person other than the terms and conditions specified in the Plan and the Agreement. 435 options vested on 11/15/2004 and 6,956 options will vest on 11/15/2005. Terri Garnick 2005-05-18