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Public Storage Director's Dealing 2013

May 10, 2013

30014_dirs_2013-05-10_e7b4fed8-ce93-4062-83ab-d82bb5634624.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2013-05-09

Reporting Person: HUGHES B WAYNE JR (Director, 10% Owner)

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2013-05-09 Stock Option (right to buy) $164.62 A 5000 Acquired 2015-05-09 Common Stock (5000) Direct

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 8005 Direct
Common Stock 11348 Direct
Common Stock 5588545 Indirect
Common Stock 65358 Indirect
Common Stock 3390 Indirect
Common Stock 31160 Indirect
Common Stock 233 Indirect
Common Stock 444 Indirect
Common Stock 44312 Indirect
Common Stock 17890 Indirect
Common Stock 400000 Indirect

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Stock Option (right to buy) $144.97 2022-05-03 Common Stock (5000) 5000 Direct
Stock Option (right to buy) $115.96 2021-05-05 Common Stock (5000) 5000 Direct
Stock Option (right to buy) $94.25 2020-05-06 Common Stock (5000) 5000 Direct
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) $91.68 2017-05-03 Common Stock (2500) 2500 Direct
Stock Option (right to buy) $74.23 2017-08-02 Common Stock (2500) 2500 Direct
Stock Option (right to buy) $60.06 2015-05-05 Common Stock (2500) 2500 Direct

Footnotes

F1: By Tamara Hughes Gustavson and B. Wayne Hughes, Jr. - Separate Property.

F2: By reporting person and wife as joint tenants.

F3: By B. Wayne Hughes, Jr., trustee for B. Wayne Hughes, Jr. Living Trust.

F4: By daughter.

F5: By reporting person as custodian for son.

F6: By son.

F7: By custodian of an IRA for benefit of wife.

F8: By wife.

F9: By custodian of an IRA for benefit of reporting person.

F10: By wife as custodian for son.

F11: Reporting person is the successor trusteee of two trusts for the benefit of his children that own a 50% interest in a limited liability company that owns a total of 800,000 shares.

F12: 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.

F13: 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.