Public Storage — Director's Dealing 2014

Dec 5, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2014-12-04

Reporting Person: HUGHES B WAYNE ET AL (10% Owner, Chairman Emeritus)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-12-04	Common Stock	S	14	$185.2322	Disposed	1414	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2165386	Indirect

Footnotes

F1: By B. Wayne Hughes, trustee for B.W. Hughes Living Trust dated 6/3/77 (the "Living Trust").

F2: The shares were sold to meet minimum distribution requirements.

F3: By custodian of an IRA for the reporting person's benefit.