X0202 4 2006-12-11 0 0000903127 POST PROPERTIES INC PPS 0001191441 BLOOM HERSCHEL M 4401 NORTHSIDE PARKWAY SUITE 800 ATLANTA GA 30327-3057 1 0 0 0 Phantom Stock Units 2006-12-11 4 A 0 183 A Common Stock 183 1098 D Under the Issuer's amended and restated deferred compensation plan (the "plan"), a director may defer all or a portion of the fees payable to the director during any calendar year for services as a member of the Issuer's board of directors. Distributions from the plan may only be made in the Issuer's stock and the Issuer's stock is the only benchmark investment alternative available under the plan. The Issuer issued a number of shares of stock to a rabbi trust organized in connection with the plan effective on December 11, 2006, equal to the aggregate number of shares credited to the reporting person's bookkeeping account for compensation deferred under the plan for the quarter ended December 31, 2006. Each unit is exchangeable for 1 share. Under the revised terms of the plan, the reporting person may direct the voting of shares held by the rabbi trust equal to the number of phantom shares held in his account. Balance includes 9 shares acquired pursuant to the dividend reinvestment feature of the plan. /s/ Sherry W. Cohen, Power of Attorney 2006-12-13