Public Storage — Director's Dealing 2010

Apr 16, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

Reporting Person: BAKER WILLIAM C (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-04-15	Depositary Shares Representing Equity Stock, Series A	J	455	$24.50	Disposed	0	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	27500	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$62.80	2019-05-07	Common Stock (5000)	5000	Direct
Stock Option (right to buy)	$91.81	2018-05-08	Common Stock (5000)	5000	Direct
Stock Option (right to buy)	$74.23	2017-08-02	Common Stock (2500)	2500	Direct
Stock Option (right to buy)	$91.68	2017-05-03	Common Stock (2500)	2500	Direct
Stock Option (right to buy)	$85.50	2016-08-22	Common Stock (2500)	2500	Direct
Stock Option (right to buy)	$60.06	2015-05-05	Common Stock (2500)	2500	Direct
Stock Option (right to buy)	$43.33	2014-05-06	Common Stock (2500)	2500	Direct
Stock Option (right to buy)	$32.91	2013-05-08	Common Stock (2500)	2500	Direct
Stock Option (right to buy)	$37.73	2012-05-09	Common Stock (2500)	2500	Direct

Footnotes

F1: Stock Options granted pursuant to the 2001 Stock Option and Incentive Plan; options vest in 3 equal annual installments beginning 1 year from date of grant.

F2: 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.

F3: 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.