X0201 4 2003-08-18 0 0000915773 SUMMIT PROPERTIES INC SMT 0001215399 SCHWARZ MICHAEL L 2039 CONISTON PLACE CHARLOTTE NC 28207 0 1 0 0 Executive Vice President & COO Common Stock 2003-08-18 4 S 0 10000 21.62 D 156956 D Includes 23,375 shares of Common Stock that the Reporting Person has the opportunity to receive pursuant to a stock award agreement with the Issuer. Subject to the Reporting Person's continued employment with the Issuer, the number of shares that the Reporting Person will be entitled to receive is based on the following schedule: 5,500 shares on each of March 1, 2004, 2005 and 2006; and the final 6,875 shares on March 1, 2007 (subject to acceleration under certain circumstances). /s/Michael G. Malone 2003-08-19