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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950134-06-000206.txt : 20060106
<SEC-HEADER>0000950134-06-000206.hdr.sgml : 20060106
<ACCEPTANCE-DATETIME>20060106145536
ACCESSION NUMBER:		0000950134-06-000206
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20060103
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20060106
DATE AS OF CHANGE:		20060106

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UNITED DOMINION REALTY TRUST INC
		CENTRAL INDEX KEY:			0000074208
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				540857512
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10524
		FILM NUMBER:		06516132

	BUSINESS ADDRESS:	
		STREET 1:		400 EAST CARY STREET
		CITY:			RICHMOND
		STATE:			VA
		ZIP:			23219-3802
		BUSINESS PHONE:		8047802691

	MAIL ADDRESS:	
		STREET 1:		400 EAST CARY STREET
		CITY:			RICHMOND
		STATE:			VA
		ZIP:			23219-3802

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OLD DOMINION REAL ESTATE INVESTMENT TRUST
		DATE OF NAME CHANGE:	19850110

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OLD DOMINION REIT ONE
		DATE OF NAME CHANGE:	19770921

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OLD DOMINION REAL ESTATE INVESTMENT TRUS
		DATE OF NAME CHANGE:	19741216
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d31794e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>






<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, DC 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Date of report (Date of earliest event reported):&nbsp;&nbsp;January&nbsp;3, 2006</DIV>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>UNITED
DOMINION REALTY TRUST, INC.</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 0pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 0pt; width: 84%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>


<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Maryland</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>1-10524</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>54-0857512</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of<BR>
incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer<BR>
Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>1745 Shea Center Drive,<BR>
Suite&nbsp;200,<BR>
Highlands Ranch, Colorado<BR>
80129</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 0pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 0pt; width: 35%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="margin-top: 1px">(Address of principal executive offices)(Zip Code)</DIV></DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><DIV style="margin-top: 1px">Registrant&#146;s telephone number,
including area code: <B>(720)&nbsp;283-6120</B></DIV>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following provisions:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR>

</TABLE>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt">&nbsp;
</DIV
>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">








<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;1.01. Entry into a Material Definitive Agreement.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors of United Dominion Realty Trust, Inc. (the &#147;Company&#148;) has approved the
terms of the compensation to be paid to each non-management director of the Company in respect of
his or her service on the Board of Directors effective for the 2006 fiscal year. A summary describing the
elements of such compensation is filed as Exhibit&nbsp;10.1 to this report and is incorporated herein by
reference.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 9.01. Financial Statements and Exhibits</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(d)&nbsp;Exhibits
</DIV>

<DIV align="center">
    <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
      <!-- Begin Table Head -->
      <TR valign="bottom">
        <TD width="16%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="41%">&nbsp;</TD>
        <TD width="31%">&nbsp;</TD>
        <TD width="7%">&nbsp;</TD>
      </TR>
      <TR style="font-size: 8pt" valign="bottom">
        <TD nowrap align="left"><div align="center"><B><u>Exhibit No.</u></B></div></TD>
        <TD>&nbsp;</TD>
        <TD nowrap align="center"><B><u>Description</u></B></TD>
        <TD>&nbsp;</TD>
        <TD>&nbsp;</TD>
      </TR>
      <!-- End Table Head -->
      <!-- Begin Table Body -->
      <TR valign="bottom">
        <TD valign="top">&nbsp;</TD>
        <TD>&nbsp;</TD>
        <TD align="left" valign="top">&nbsp;</TD>
        <TD>&nbsp;</TD>
        <TD align="left" valign="top">&nbsp;</TD>
      </TR>
      <TR valign="bottom">
        <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
            <div align="center">10.1 </div>
          </DIV></TD>
        <TD>&nbsp;</TD>
        <TD align="left" valign="top">Summary of 2006 Director Compensation </TD>
        <TD>&nbsp;</TD>
        <TD align="left" valign="top">&nbsp;</TD>
      </TR>
      <!-- End Table Body -->
    </TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Signatures</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">UNITED DOMINION REALTY TRUST, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
      <TD align="left">Date: January 6, 2006&nbsp;</TD>
      <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/
        Scott A. Shanaberger &nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Scott A. Shanaberger&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Senior Vice President and
Chief Accounting Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Exhibit&nbsp;Index</B>
</DIV>

<DIV align="center">
    <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
      <!-- Begin Table Head -->
      <TR valign="bottom">
        <TD width="9%">&nbsp;</TD>
        <TD width="6%">&nbsp;</TD>
        <TD width="34%">&nbsp;</TD>
        <TD width="42%">&nbsp;</TD>
        <TD width="9%">&nbsp;</TD>
      </TR>
      <TR style="font-size: 8pt" valign="bottom">
        <TD nowrap align="left"><div align="center"><B><u>Exhibit No.</u></B></div></TD>
        <TD><div align="center"></div></TD>
        <TD nowrap align="center"><div align="center"><B><u>Description</u></B></div></TD>
        <TD>&nbsp;</TD>
        <TD>&nbsp;</TD>
      </TR>
      <!-- End Table Head -->
      <!-- Begin Table Body -->
      <TR valign="bottom">
        <TD valign="top">&nbsp;</TD>
        <TD>&nbsp;</TD>
        <TD align="left" valign="top">&nbsp;</TD>
        <TD>&nbsp;</TD>
        <TD align="left" valign="top">&nbsp;</TD>
      </TR>
      <TR valign="bottom">
        <TD valign="top"><DIV align="center" style="margin-left:0px; text-indent:-0px">10.1
          </DIV></TD>
        <TD><div align="center"></div></TD>
        <TD align="left" valign="top"><div align="center">Summary of 2006 Director
            Compensation </div></TD>
        <TD>&nbsp;</TD>
        <TD align="left" valign="top">&nbsp;</TD>
      </TR>
      <!-- End Table Body -->
    </TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d31794exv10w1.htm
<DESCRIPTION>SUMMARY OF 2006 DIRECTOR COMPENSATION
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w1</TITLE>
</HEAD>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>EXHIBIT 10.1</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Summary of 2006 Director Compensation</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The compensation program for non-employee directors of United Dominion Realty Trust, Inc.
consists of a combination of cash retainers for board and committee service, service-based
restricted stock and performance shares that vest only if our total stockholder return over a
three-year period meets or exceeds that of a designated peer group of apartment REITs. Total pay
associated with cash retainers and restricted stock is targeted at peer group median levels. If we
outperform our peers in terms of total stockholder return, total pay can equal or exceed 75th
percentile levels. Annual retainers for board and committee service are set at competitive levels
in recognition of the time commitments and responsibility levels associated with serving on public
company boards within the current environment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For 2006, each non-employee director will receive an annual retainer fee of $40,000 ($75,000
for a non-employee chairman of the board of directors), which may be taken in cash or shares of
restricted common stock. Non-employee directors, other than committee chairpersons, also receive
an annual retainer fee of $5,000 for each committee on which they serve. The chairpersons of each
of the Audit, Compensation, Executive and Governance Committees receive an annual retainer fee of
$10,000. These fees will be paid in January&nbsp;2006.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On January&nbsp;3, 2006, each non-employee director also received a grant of 2,000 shares of
restricted stock that vests one year from the date of grant and a grant of 3,000 shares of
restricted stock that vests one-third on each anniversary of the date of grant if the company has
met certain performance thresholds. Such 3,000 shares vest over a three-year measurement period
from the date of grant on the following basis (1)&nbsp;100 shares will vest if our total stockholder
return (share price appreciation plus dividends paid) during such measurement period is at the 50th
percentile of total stockholder return from a REIT peer group index to be selected by the board of
directors, (2)&nbsp;100 shares will vest for each percentage point by which our total stockholder return
for such measurement period exceeds the 50th percentile of such peer group index, and (3)&nbsp;the
remainder will vest if total stockholder return during such measurement period is equal to or
exceeds the 75th percentile of such peer group index.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Directors are entitled to receive dividends during the vesting period; however, any unvested
shares at the end of the three-year vesting period will be returned to us and cancelled. All
restricted stock granted to our non-employee directors is priced at the closing price of our common
stock on the grant date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Directors who are also employees of United Dominion Realty Trust, Inc. receive no additional
compensation for service as a director.
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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</DOCUMENT>
</SEC-DOCUMENT>
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