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

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES 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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(Print or Type Responses)

1. Name and Address of Reporting Person * DRUTEN ROBERT J   2. Issuer Name and Ticker or Trading Symbol ENTERTAINMENT PROPERTIES TRUST [EPR] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) CROWN MEDIA HOLDINGS INC, 6430 S FIDDLERS GREEN CIR STE 500 3. Date of Earliest Transaction (Month/Day/Year) 05/09/2012 (Street) ENGLEWOOD, CO 80111 4. If Amendment, Date 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 (City) (State) (Zip) 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) Code V Amount (A) or (D) Price Common Shares of Beneficial Interest 05/09/2012   M(5)   5,127 A $ 0 13,002 D   Common Shares of Beneficial Interest 05/09/2012   M(6)   723 A $ 0 13,725 D   Common Shares of Beneficial Interest 05/09/2012   M(7)   681 A $ 0 14,406 D   Common Shares of Beneficial Interest               3,000 I IRA

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Share Units	(1)	05/09/2012		A		1,345		(2)	(2)	Common Shares of Beneficial Interest	1,345	$ 0	9,958	D
Restricted Share Units	(3)	05/09/2012		A		840		(2)	(2)	Common Shares of Beneficial Interest	840	$ 0	10,798	D
Restricted Share Units	$ 44.98	05/09/2012		D			5,127	(5)	(5)	Common Shares of Beneficial Interest	5,127	$ 0	5,671	D
Restricted Share Units	$ 47.77	05/09/2012		D			723	(6)	(6)	Common Shares of Beneficial Interest	723	$ 0	4,948	D
Restricted Share Units	$ 44.62	05/09/2012		D			681	(7)	(7)	Common Shares of Beneficial Interest	681	$ 0	4,267	D
Option to Purchase Common Shares of Beneficial Interest	$ 44.62	05/09/2012		A		1,093 (4)		05/09/2013	05/09/2022	Common Shares of Beneficial Interest	1,093	$ 0	30,890	D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
DRUTEN ROBERT J CROWN MEDIA HOLDINGS INC 6430 S FIDDLERS GREEN CIR STE 500 ENGLEWOOD, CO 80111	X

Signatures

/s/ Robert J. Druten		05/11/2012
**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	Restricted Share Units were issued to Reporting Person in lieu of the Reporting Person's Annual Trustee Retainer fee. Each Restricted Share Unit represents a contingent right to receive one common share of beneficial interest.
(2)	100% of shares are payable on 05/09/2015.
(3)	Restricted Share Units were issued to the Reporting Person pursuant to the Company's Equity Incentive Plan. Each Restricted Share Unit represents a contingent right to receive one common share of beneficial interest.
(4)	Option to Purchase Shares were issued to the Reporting Person pursuant to the Company's Equity Incentive Plan.
(5)	Represents the vesting of 100% of Restricted Share Units issued on 05/13/2009, which vesting constitutes an exercise or conversion of a derivative security exempt under Rules 16b-3 and 16b-6(b).
(6)	Represents the vesting of a portion of the Restricted Share Units issued on 05/12/2010, which vesting constitutes an exercise or conversion of a derivative security exempt under Rules 16b-3 and 16b-6(b).
(7)	Represents the vesting of a portion of the Restricted Share Units issued on 05/11/2011, which vesting constitutes an exercise or conversion of a derivative security exempt under Rules 16b-3 and 16b-6(b).

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