Public Storage — Director's Dealing 2010

Apr 19, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2010-04-15

Reporting Person: HUGHES B WAYNE ET AL (Director, 10% Owner, CHAIRMAN OF THE BOARD)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-04-15	Depositary Shares Representing Equity Stock	J	52547	$24.50	Disposed	0	Indirect
2010-04-15	Depositary Shares Representing Equity Stock	J	46	$24.50	Disposed	0	Indirect
2010-04-15	Depositary Shares Representing Equity Stock	J	11076.2536	$24.50	Disposed	0	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2723141	Indirect
Common Stock	0	Indirect
Common Stock	1427	Indirect
Common Stock	735000	Indirect
Common Stock	543727.9115	Indirect

Footnotes

F1: By B. Wayne Hughes, trustee for B.W. Hughes Living Trust dated 6/3/77 (the "Living Trust").

F2: By The Northern Trust Company of Delaware, trustee for B. Wayne Hughes 2008 Irrevocable Intervivos Trust ("NTCD").

F3: By custodian of an IRA for the reporting person's benefit.

F4: By B. Wayne Hughes, trustee of Wayne Hughes 6-07 Annuity Trust.

F5: 401 (k) plan units that represent interests in common stock or equity stock; based on plan information as of April 15, 2010. There is not a one to one correlation between units and shares.

F6: On April 15, 2010, Public Storage redeemed all its outstanding depositary shares representing interests in its Equity Shares, Series A at $24.50 per share.