CubeSmart — Director's Dealing 2012

Jan 17, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CubeSmart (CUBE)
CIK: 0001298675
Period of Report: 2012-01-15

Reporting Person: LARUE DAVID J (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-01-15	Phantom Shares	$	A	174.0000	Acquired		Common (174.0000)	Direct

Footnotes

F1: These phantom shares were acquired through reinvestment of dividend equivalents under the CubeSmart Trustees Deferred Compensation Plan, amended and restated January 1, 2007, and are payable in cash on a one-for-one basis after the reporting person ceases to serve as a trustee of the Company. The reporting person may elect to transfer these phantom shares at any time by reallocating his deemed investment option to another investment alternative, and such transfer will be effected on the first business day of the calendar quarter following the election.