Public Storage — Director's Dealing 2015

May 4, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2015-04-30

Reporting Person: SPOGLI RONALD P (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-04-30	Stock Option (right to buy)	$187.91	A	5000	Acquired	2025-04-30	Common Stock (5000)	Direct

Footnotes

F1: Stock Option granted pursuant to the 2007 Equity and Performance-Based Incentive Compensation Plan As Amended. Options vest in three (3) equal annual installments beginning one (1) year from date of grant.