Public Storage — Director's Dealing 2012

Aug 9, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2012-08-07

Reporting Person: Glick Steven M. (Sr. V.P. & Chief Legal Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-08-07	Common Stock	M	5000	$80.33	Acquired	15679	Direct
2012-08-07	Common Stock	S	5000	$145.5719	Disposed	10679	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-08-07	Stock Option (right to buy)	$80.33	M	5000	Disposed	2020-02-23	Common Stock (5000)	Direct

Footnotes

F1: Includes 8,826 restricted share units.

F2: Stock Options granted pursuant to the 2007 Equity and Performance-Based Incentive Compensation Plan; options vest in 5 equal annual installements beginning 1 year from date of grant.

F3: Represents weighted average purchase price. These shares were sold at price ranging between $145.5000 and $145.6600 Full information regarding the number of shares purchased 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.