Public Storage — Director's Dealing 2013

May 9, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

Reporting Person: SPOGLI RONALD P (Director)

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	2023-05-09	Common Stock (5000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$144.97	2020-05-03	Common Stock (5000)	5000	Direct
Stock Option (right to buy)	$155.96	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)	$82.19	2020-02-26	Common Stock (15000)	15000	Direct

Footnotes

F1: 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.