Public Storage — Director's Dealing 2011

Mar 24, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2011-03-23

Reporting Person: HARKHAM URI P (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-03-23	Common Stock	S	10000	$106.8259	Disposed	4270	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3815	Indirect
Common Stock	30205	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$94.25	2020-05-06	Common Stock (5000)	5000	Direct
Stock Option (right to buy)	$62.8	2019-05-07	Common Stock (3334)	3334	Direct
Stock Option (right to buy)	$91.81	2018-05-08	Common Stock (5000)	5000	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

Footnotes

F1: By Uri P. Harkham, Trustee of Harkham Industries, Inc. (DBA Jonathan Martin, Inc.) Profit Sharing Plan dated 10/1/80.

F2: By Harkham Ivestments L.P., an affiliated entity of Mr. Harkham

F3: By Uri P. Harkham, Trustee of Uri Harkham Trust and ajusted to reflect inclusion of shares previously reported as directly held and held in another trust.

F4: 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.

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 date of grant.

F6: Represents weighted average purchase price. These shares were sold at prices ranging between $106.89 and $106.82. Full information regarding the number of shares sold at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.