Public Storage — Director's Dealing 2011

Mar 18, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2011-03-16

Reporting Person: DOLL DAVID F (SENIOR VICE PRESIDENT)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-03-16	Common Stock	F	276	$106.77	Disposed	14625	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$50.30	2019-03-02	Common Stock (50000)	50000	Direct
Stock Option (right to buy)	$80.48	2018-02-27	Common Stock (150000)	150000	Direct
Stock Option (right to buy)	$97.47	2017-03-15	Common Stock (20000)	20000	Direct
Stock Option (right to buy)	$82.90	2016-03-16	Common Stock (40000)	40000	Direct
Stock Option (right to buy)	$55.66	2015-02-21	Common Stock (40000)	40000	Direct

Footnotes

F1: Includes 7,500 restricted stock units.

F2: Stock Options granted pursuant to the 2001 Stock Option and Incentive Plan; options vest in 5 equal annual installments beginning 1 year from date of grant.

F3: Stock Options granted pursuant to the 2001 Stock Option and Incentive Plan; options vest in 8 equal annual installments beginning 1 year from date of grant.

F4: Stock Options granted pursuant to the 2007 Equity and Performance-Based Incentive Compensation Plan; options vest in 5 equal annual installments beginning 1 year from date of grant.

F5: By David F. Doll for benefit of minor son.