Public Storage — Director's Dealing 2015

Mar 5, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2015-03-03

Reporting Person: HARKHAM URI P (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-03-03	Common Stock	M	5000	$94.25	Acquired	12500	Direct
2015-03-03	Common Stock	S	5000	$196.8070	Disposed	7500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-03-03	Stock Option (right to buy)	$94.25	M	5000	Disposed	2020-05-06	Common Stock (5000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	7937	Indirect
Common Stock	3815	Indirect
Common Stock	12705	Indirect
Common Stock	1667	Indirect

Footnotes

F1: Represents weighted average purchase price. These shares were sold at prices ranging between $196.46 and $197.19. 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: By Uri P. Harkham, Trustee of Harkham Industries, Inc. (DBA Jonathan Martin, Inc.) Profit Sharing Plan dated October 1, 1980.

F3: By Harkham Investments L.P. an affiliated entity of Mr. Harkham.

F4: By Uri P. Harkham, Trustee of Uri Harkham Trust.

F5: By the custodian of an IRA for the benefitof Uri P. Harkham.

F6: 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.