Public Storage — Director's Dealing 2010

Mar 4, 2010

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2010-02-26

Reporting Person: SPOGLI RONALD P (Director)

Holdings (Non-Derivative)

Security	Shares	Ownership
Depositary Shares Representing Equity Stock	121086	Indirect
Depositary Shares Representing Equity Stock	14420	Indirect
Depositary Shares Representing Equity Stock	1353	Indirect
Depositary Shares Representing Equity Stock	18000	Indirect
Depositary Shares Representing Equity Stock	14200	Indirect
Depositary Shares Representing Equity Stock	2000	Indirect
Depositary Shares Representing Equity Stock	1400	Indirect
Depositary Shares Representing Equity Stock	1400	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$82.19	2020-02-26	Common Stock (15000)		Direct

Footnotes

F1: By Ronald P. Spogli, as trustee of the Ronald P. Spogli Trust.

F2: By a custodian of an IRA Rollover for benefit of reporting person.

F3: By a custodian of an IRA for benefit of reporting person.

F4: Shares owned by the Spogli Family Foundation.

F5: RSF Private Investments LLC, of which the reporting person is the managing member.

F6: By wife.

F7: By Ronald P. Spogli, as trustee of the Katherine Ann Wardlaw Trust U/W.

F8: By Ronald P. Spogli, as trustee of the William Michael Wardlaw Jr. Trust

F9: New trustee stock options grant pursuant to the 2007 Equity and Performance-Based Incentive Compensation Plan; options vest in 3 equal annual installments beginning 1 year from date of grant.