X0202 4 2006-01-31 0000929454 GLENBOROUGH REALTY TRUST INC GLB 0001145933 BLUM RICHARD C 909 MONTGOMERY STREET SUITE 400 SAN FRANCISCO CA 94133 1 0 0 0 Common Stock 2006-01-31 4 A 0 2000 0 A 13500 D These shares were granted pursuant to the Issuer's 1996 Stock Incentive Plan, as amended (the "Plan"), and (ii) a Director's Restricted Stock Bonus Agreement (the "Agreement") between the reporting person and the Issuer. No consideration was given by the reporting person other than the terms and conditions specified in the Plan and the Agreement. The shares will be fully vested on January 5, 2007. Gregory D. Hitchan, Attorney-In-Fact 2006-02-23