Public Storage — Director's Dealing 2014

Nov 12, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2014-11-11

Reporting Person: KROL CANDACE N. (SR. VP OF HUMAN RESOURCES)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-11-11	Common Stock	M	15000	$97.47	Acquired	52008	Direct
2014-11-11	Common Stock	S	15000	$187.7817	Disposed	37008	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-11-11	Stock Option (right to buy)	$97.47	M	15000	Disposed	2017-03-15	Common Stock (15000)	Direct

Footnotes

F1: Includes 19,438 restricted share units.

F2: Represents weighted average price. These shares were sold at prices ranging between $187.7676 and $187.84. Full information regarding the number of shares sold 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.

F3: Stock Option granted pursuant to the 2001 Stock Option and Incentive Plan.