CubeSmart — Director's Dealing 2011

Jan 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: U-Store-It Trust (YSI)
CIK: 0001298675
Period of Report: 2011-01-03

Reporting Person: MARTIN TIMOTHY M (CFO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-01-03	Phantom Shares	$	A	592.0000	Acquired		Common (592.0000)	Direct

Footnotes

F1: These phantom shares were acquired under the U-Store-It Executive Deferred Compensation Plan, and are payable in cash on a one-for one basis. The reporting person may elect to transfer these phantom shares at any time by reallocating the deemed phantom share investment option to another investment alternative, and such transfer will be effective on the first business day of the calendar quarter following the election.