Public Storage — Director's Dealing 2016

Jul 5, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2016-07-01

Reporting Person: RUSSELL JOSEPH D JR (President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-07-01	Common Stock	A	10000	—	Acquired	10000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-07-01	Stock Option (right to buy)	$253.84	A	25000	Acquired	2026-07-01	Common Stock (25000)	Direct

Footnotes

F1: Award of restricted share units that vest in five (5) equal annual installments beginning one (1) year from the date of grant.

F2: Stock Option granted pursuant to the 2016 Equity and Performance-Based Incentive Compensation Plan. Options vest in five (5) equal annual installments beginning one (1) year from the date of grant.