X0303 4/A 2011-02-07 2011-02-09 0 0000903127 POST PROPERTIES INC PPS 0001479176 Teabo Sheila J. 4401 NORTHSIDE PARKWAY SUITE 800 ATLANTA GA 30327 0 1 0 0 Executive Vice Pres. Common Stock 2011-02-07 4 A 0 2160 0.00 A 13623.66 D Stock Option (right to buy) 37.04 2011-02-07 4 A 0 1520 0.00 A 2012-02-07 2021-02-07 Common Stock 1520 1520 D Units in 401(k) Plan Common Stock 917.7019 3219.9378 D Restricted stock awarded under the company's Amended and Restated Post Properties, Inc. 2003 Incentive Stock Plan. Restricted stock vests one-third each year over a three year period beginning on 12/31/2011. The balance includes 5,837 restricted shares that have not vested. Balance includes 135 shares received under the Issuer's Employee Stock Purchase Plan (the "Plan"), purchase period July 1, 2010 - December 31, 2010. Option vests one-third each year over a three year period beginning 02/07/2012. As the option vests the Reporting Person may elect to treat the vested portion as a stock appreciation right and receive the value between the exercise price and the current market price in shares of common stock equal to the spread at the time of the exercise. The issuer's outside administrator for the employees 401(k) plan holds issuer stock in a pooled fund as a participant investment option. Participant contributions designated to be invested in issuer common stock are accounted for as units of interest in the issuer fund. Each unit was valued at $10.3201 as of 1/11/2011. The unit value will fluctuate with fluctuations in the value of the issuer common stock and the daily cash position. Dividends on the issuer common stock held in the issuer stock fund are included in the unit value. The number of shares of issuer stock attributable to the reporting person can be determined at any time by first multiplying the number of units in the reporting person's account by the then current unit price and dividing the total by the price of the issuer common stock. As of 1/11/2011, the reporting person held an equivalent of 917.7019 shares in the issuer 401(k) Plan. The 401(k) plan is a"Qualified Plan" as defined in Rule 16b-3(b)(4). This amendment is filed to correct the number of shares and units held which was understated in the previously filed Form 4 as a result of an administrative error. Issuer contributed 712.20 units as a employer match contribution to Reporting Person's 401(k) plan for the issuer's 2010 fiscal year, which is an equivalent of 202.98 shares. /s/ Sherry W. Cohen, Power of Attorney 2011-03-03