Public Storage — Director's Dealing 2010

Jun 25, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2010-06-21

Reporting Person: HAVNER RONALD L JR (Director, VICE CHAIRMAN & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-06-23	Depositary Shares Representing Series G Preferred Stock	S	100	$25.10	Disposed	9870	Indirect
2010-06-24	Depositary Shares Representing Series G. Preferred Stock	S	900	$25.10	Disposed	8970	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	35000	Indirect
Common Stock	300	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$50.30	2018-03-02	Common Stock (200000)	200000	Direct
Stock Option (right to buy)	$81.81	2017-12-08	Common Stock (83000)	83000	Direct
Stock Option (right to buy)	$95.18	2016-12-08	Common Stock (83000)	83000	Direct
Stock Option (right to buy)	$69.87	2015-12-08	Common Stock (83000)	83000	Direct
Stock Option (right to buy)	$30.10	2012-11-07	Common Stock (45150)	45150	Direct

Footnotes

F1: By Ronald L. Havner, Jr. and LeeAnn R. Havner, Trustees of the Havner Family Trust.

F2: By Ronald L. Havner, Jr. for benefit of son.

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

F4: Share 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.