CubeSmart — Director's Dealing 2015

May 5, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CubeSmart (CUBE)
CIK: 0001298675
Period of Report: 2015-05-04

Reporting Person: Foster Jeffrey P (Sr. VP - Chief Legal Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-05-04	Common	M	57915.0000	$7.2900	Acquired	137246.0000	Direct
2015-05-04	Common	M	38000.0000	$9.3900	Acquired	175246.0000	Direct
2015-05-04	Common	M	12461.0000	$3.0900	Acquired	187707.0000	Direct
2015-05-04	Common	S	6619.0000	$23.4601	Disposed	181088.0000	Direct
2015-05-04	Common	S	101757.0000	$23.6515	Disposed	79331.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-05-04	Stock Option (right to buy)	$7.2900	M	57915.0000	Disposed	2020-01-13	Common (57915.0000)	Direct
2015-05-04	Stock Option (right to buy)	$9.3900	M	38000.0000	Disposed	2021-01-24	Common (38000.0000)	Direct
2015-05-04	Stock Option (right to buy)	$3.0900	M	12461.0000	Disposed	2019-02-17	Common (12461.0000)	Direct

Footnotes

F1: The original stock option for 57,915 shares became exercisable in three equal installments on January 13, 2011, 2012, and 2013.

F2: The original stock option for 43,958 shares became exercisable in three equal installments on January 24, 2012, 2013, and 2014.

F3: The original stock option for 83,942 shares became exercisable in three equal installments on February 17, 2010, 2011, and 2012.