Public Storage — Director's Dealing 2013

Mar 6, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2013-03-04

Reporting Person: REYES JOHN (Senior Vice President / CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-03-04	Common Stock	F	1044	$152.75	Disposed	82435	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-02-21	Stock Option (right to buy)	$152.01	A	100000	Acquired	2023-02-21	Common Stock (100000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	61615.9075	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$50.30	2019-03-02	Common Stock (100000)	100000	Direct
Stock Option (right to buy)	$80.48	2018-02-27	Common Stock (250000)	250000	Direct
Stock Option (right to buy)	$97.47	2017-03-15	Common Stock (140000)	140000	Direct
Stock Option (right to buy)	$78.36	2016-03-03	Common Stock (50000)	50000	Direct
Stock Option (right to buy)	$78.36	2023-02-21	Common Stock (100000)	100000	Direct

Footnotes

F1: Includes 37,875 restricted share units.

F2: 401(k) plan units that represent interests in common stock; based on plan information as of October 16, 2012. There is not a one to one correlation between units and shares.

F3: 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.

F4: Stock Options granted pursuant to the 2001 Stock Option and Incentive Plan.

F5: Stock Options granted pursuant to the 2007 Equity and Performance-Based Compensation Plan. Options vest in 5 equal annual installments beginning 1 year from grant date.