Public Storage — Director's Dealing 2018

Oct 1, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2018-09-28

Reporting Person: GUSTAVSON TAMARA HUGHES (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-09-28	Common Stock	M	15000	$70.72	Acquired	16342445	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-09-28	Stock Option (right to buy)	$70.72	M	15000	Acquired	2018-11-25	Common Stock (15000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	11348	Direct
Common Stock	17890	Indirect
Common Stock	27343	Indirect
Common Stock	1300	Indirect
Common Stock	5500	Direct
Common Stock	895390	Indirect
Common Stock	675000	Indirect
Common Stock	200000	Indirect
Common Stock	295000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$193.71	2028-04-25	Common Stock (5000)	5000	Direct
Stock Option (right to buy)	$223.93	2027-04-26	Common Stock (5000)	5000	Direct
Stock Option (right to buy)	$258.49	2026-04-25	Common Stock (5000)	5000	Direct
Stock Option (right to buy)	$187.91	2025-04-30	Common Stock (5000)	5000	Direct
Stock Option (right to buy)	$176.19	2024-05-01	Common Stock (5000)	5000	Direct
Stock Option (right to buy)	$164.42	2023-05-09	Common Stock (5000)	5000	Direct
Stock Option (right to buy)	$144.97	2022-05-03	Common Stock (5000)	5000	Direct
Stock Option (right to buy)	$115.96	2021-05-05	Common Stock (5000)	5000	Direct
Stock Option (right to buy)	$94.25	2020-05-06	Common Stock (5000)	5000	Direct
Stock Option (right to buy)	$62.80	2019-05-07	Common Stock (5000)	5000	Direct

Footnotes

F1: By Tamara Hughes Gustavson and B. Wayne Hughes, Jr. - Separate Property.

F2: By husband as custodian for daughter.

F3: By custodian of an IRA for benefit of reporting person.

F4: By reporting person and husband

F5: By third party custodian for the benefit of daughter.

F6: By limited liability company wholly-owned by daughter.

F7: By LLC of which reporting person is a member and manager.

F8: Stock Option granted pursuant to the 2016 Equity and Performance-Based Incentive Compensation Plan. Option vests in three (3) equal annual installments beginning one (1) year from the grant date.

F9: Stock Option granted pursuant to the 2007 Equity and Performance-Based Incentive Compensation Plan as amended. Option vests in three (3) equal annual installments beginning one (1) year from the grant date.