Extra Space Storage Inc. — Director's Dealing 2016

May 6, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Extra Space Storage Inc. (EXR)
CIK: 0001289490
Period of Report: 2016-05-05

Reporting Person: OVERTURF JAMES (EVP/Chief Marketing Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-05	Common Stock	M	2500	$19.60	Acquired	95857	Direct
2016-05-05	Common Stock	M	1930	$11.59	Acquired	97787	Direct
2016-05-05	Common Stock	M	4430	$90.9103	Disposed	93357	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-05	Stock Options	$19.60	M	2500	Disposed	2021-02-08	Common Stock (2500)	Direct
2016-05-05	Stock Options	$11.59	M	1930	Disposed	2020-02-16	Common Stock (1930)	Direct

Footnotes

F1: Options granted 02/08/2011 vested annually in equal installments over four years, beginning on the first anniversary of the grant date.

F2: Options granted 02/16/2010 vested annually in equal installments over four years, beginning on the first anniversary of the grant date.