Public Storage — Director's Dealing 2013

Sep 10, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2013-09-06

Reporting Person: DOLL DAVID F (SENIOR VICE PRESIDENT)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-09-06	Common Stock	M	30000	$80.48	Acquired	58975	Direct
2013-09-06	Common Stock	S	30000	$153.5657	Disposed	28975	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-09-06	Stock Option (right to buy)	$80.48	M	30000	Disposed	2018-02-27	Common Stock (30000)	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)	$97.47	2017-03-15	Common Stock (10000)	10000	Direct

Footnotes

F1: Represents weighted average purchase price. These shares were sold at a price ranging from $152.85 to $154.09. 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.

F2: Includes 16,350 restricted share units.

F3: By David F. Doll for benefit of minor son.

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

F5: Stock Options granted pursuant to the 2001 Stock Option and Incentive Plan. Options vest in eight (8) equal annual installments beginning one (1) year from date of grant.