X0306 4 2017-02-27 0 0000921112 LIBERTY PROPERTY TRUST LRY 0001248371 HANKOWSKY WILLIAM P C/O LIBERTY PROPERTY TRUST 500 CHESTERFIELD PARKWAY MALVERN PA 19355 1 1 0 0 Chairman, President & CEO Common Shares of Beneficial Interest ($0.001 par value) 2017-02-27 4 A 0 117093 A 405474 D Common Shares of Beneficial Interest ($0.001 par value) 64725 I By Grantor Retained Annuity Trust Includes (i) 16,333 restricted shares granted on February 27, 2017 that will vest on the third anniversary of the date of grant, subject to continued employment, (ii) 10,561 and 11,778 common shares issuable pursuant to restricted share units granted in 2014 and 2015, respectively, as compensation, the performance conditions relating to which have been satisfied, (iii) 57,870 restricted common shares issued as compensation on March 16, 2012, the performance conditions relating to which have been satisfied and (iv) 2,923 and 17,628 common shares, respectively that accrued under the Company's Dividend Reinvestment Plan with respect to those restricted share units and restricted common shares as to which the performance conditions have been satisfied. Received as employment compensation. William P. Hankowsky by Herman C. Fala as Attorney-in-Fact 2017-03-01