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: ANGELOFF DANN V (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-04-15	Depositary Shares Representing Equity Stock	J	12930	$24.50	Disposed	0	Indirect
2010-04-15	Depositary Shares Representing Equity Stock	J	28850	$24.50	Disposed	0	Indirect
2010-04-15	Depositary Shares Representing Equity Stock	J	1300	$24.50	Disposed	0	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	50000	Indirect
Common Stock	3600	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$62.80	2019-05-07	Common Stock (5000)	5000	Indirect
Stock Option (right to buy)	$91.81	2018-05-08	Common Stock (5000)	5000	Indirect
Stock Option (right to buy)	$74.23	2017-08-02	Common Stock (2500)	2500	Indirect
Stock Option (right to buy)	$91.68	2017-05-03	Common Stock (2500)	2500	Indirect
Stock Option (right to buy)	$85.50	2016-08-22	Common Stock (2500)	2500	Indirect

Footnotes

F1: By Dann V. Angeloff, trustee of the Angeloff Family LP.

F2: By Donaldson, Lufkin & Jenrette as custodian of an IRA for benefit of self.

F3: Stock Options granted pursuant to the 2001 Stock Option and Incentive Plan; vests in 3 equal annual installments beginning 1 year from date of grant.

F4: By The Angeloff Company, a corporation wholly owned by the reporting person.

F5: Stock Options granted pursuant to the 2007 Equity and Performance-Based Incentive Compensation Plan; options vest in 3 equal annual installments beginning 1 year from grant date.

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.