X0303 4 2011-02-25 0 0000866368 PS BUSINESS PARKS INC/CA PSB 0001227450 FRIEDMAN ARTHUR M C/O PS BUSINESS PARKS, INC 701 WESTERN AVENUE GLENDALE CA 91201-2397 1 0 0 0 Common Stock 2011-02-25 4 M 0 1000 26.40 A 13000 I As Trustee Common Stock 2011-02-25 4 S 0 1000 60.7698 D 12000 I As Trustee Common Stock 500 I By SEP IRA Depositary Shares Representing Series H Preferred Stock 3385 I As Trustee Depositary Shares Representing Series I Preferred Stock 3200 I As Trustee Stock Option (right to buy) 60.82 2011-05-03 2020-05-03 Common Stock 2000 2000 D Stock Option (right to buy) 43.84 2010-05-04 2019-05-04 Common Stock 2000 2000 D Stock Option (right to buy) 57.79 2009-05-05 2018-05-05 Common Stock 2000 2000 D Stock Option (right to buy) 68.90 2008-04-30 2017-04-30 Common Stock 2000 2000 D Stock Option (right to buy) 51.25 2007-05-01 2016-05-01 Common Stock 2000 2000 D Stock Option (right to buy) 39.95 2006-05-03 2015-05-03 Common Stock 2000 2000 D Stock Option (right to buy) 39.26 2005-05-04 2014-05-04 Common Stock 2000 2000 D Stock Option (right to buy) 32.48 2004-05-06 2013-05-06 Common Stock 2000 2000 D Stock Option (right to buy) 35.43 2003-05-14 2012-05-14 Common Stock 1000 1000 D Stock Option (right to buy) 26.40 2011-02-25 4 M 0 1000 0 A 2002-05-08 2011-05-08 Common Stock 1000 0 D By Arthur M. and Francine Friedman, trustees of the Friedman Family Trust. By a custodian of a SEP IRA for benefit of the reporting person. 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. 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. Represents weighted average purchase price. These shares were sold at price ranging between $60.76 and $60.776. Full information regarding the number of shares purchased at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer. /s/ Stephanie G. Heim, Attorney in Fact 2011-02-28