Public Storage — Director's Dealing 2014

Mar 17, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2014-03-14

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-03-14	Common Stock	M	7000	$50.30	Acquired	44498	Direct
2014-03-14	Common Stock	S	7000	$168.0792	Disposed	37498	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-03-14	Stock Option (right to buy)	$50.30	M	7000	Disposed	2019-03-02	Common Stock (7000)	Direct

Footnotes

F1: Includes 20,751 restricted share units.

F2: Represents weighted average price. These shares were sold at prices ranging between $167.80 and $168.45. 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 2007 Equity and Performance-Based Incentive Compensation Plan. Options vest in five (5) equal annual installments beginning one (1) year from date of grant.