Form 4 HAVNER RONALD L JR For: May 04 (10K)

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

HAVNER RONALD L JR

(Last)

(First)

(Middle)

C/O PS BUSINESS PARKS, INC., 701 WESTERN AVENUE

(Street)

GLENDALE

91201

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
PS BUSINESS PARKS INC/CA [PSB]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
05/04/2009

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock								68,548	I	By Family Trust ⁽¹⁾
Common Stock								10,000	I	By Foundation ⁽²⁾
Common Stock								500	I	By IRA ⁽³⁾
Common Stock								500	I	By IRA ⁽⁴⁾
Depositary Shares Representing Series H Preferred Stock								18,046	I	By Family Trust ⁽¹⁾
Depositary Shares Representing Series H Preferred Stock								5,401	I	By IRA ⁽³⁾
Depositary Shares Representing Series H Preferred Stock								19,107	I	By IRA ⁽⁴⁾
Depositary Shares Representing Series I Preferred Stock								7,300	I	By IRA ⁽⁴⁾
Depositary Shares Representing Series L Preferred Stock								100	I	By Family Trust ⁽¹⁾
Depositary Shares Representing Series M Preferred Stock								6,800	I	By Family Trust ⁽¹⁾
Depositary Shares Representing Series O Preferred Stock								2,625	I	By IRA ⁽⁴⁾
Depositary Shares Representing Series O Preferred Stock								600	I	By IRA ⁽³⁾
Depositary Shares Representing Series P Preferred Stock								1,000	I	By Foundation ⁽²⁾
Depositary Shares Representing Series P Preferred Stock								46,772	I	By Family Trust ⁽¹⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option (right to buy) ⁽⁶⁾

$ 43.84

05/04/2009

2,000

05/04/2010

05/04/2019

Common Stock

2,000

$ 0

2,000

Stock Option (right to buy) ⁽⁶⁾

$ 57.79

05/05/2009

05/05/2018

Common Stock

2,000

Stock Option (right to buy) ⁽⁶⁾

$ 68.9

04/30/2008

04/30/2017

Comon Stock

10,000

Stock Option (right to buy) ⁽⁵⁾

$ 27.48

03/13/2002

03/13/2011

Common Stock

50,000

Stock Option (right to buy) ⁽⁵⁾

$ 26.125

08/04/2001

08/04/2010

Common Stock

75,036

Explanation of Responses:

1. By a family trust of which the reporting person and his spouse are trustees.

2. Includes 10,000 shares owned by the Havner Family Foundation, of which Mr. Havner and his wife are co-trustees but with respect to which Mr. and Mrs. Havner disclaim any beneficial interest.

3. By a custodian of an IRA for benefit of the reporting person.

4. By a custodian of an IRA for benefit of the reporting person's wife.

5. Stock options pursuant to the 1997 Stock Option and Incentive Plan.

6. Stock Options granted pursuant to the 2003 Stock Option and Incentive Plan; vests in 5 equal annual installments beginning 1 year from date of grant.

	/s/ Ronald L. Havner, Jr.	05/05/2009
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

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