Public Storage — Director's Dealing 2019

Sep 4, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2019-09-03

Reporting Person: HUGHES B WAYNE ET AL (10% Owner, Chairman Emeritus)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-09-04	Common Stock	S	28700	$262.1595	Disposed	862886	Indirect
2019-09-04	Common Stock	S	21300	$261.4648	Disposed	891586	Indirect
2019-09-03	Common Stock	S	5898	$266.1334	Disposed	912886	Indirect
2019-09-03	Common Stock	S	37019	$265.3609	Disposed	918784	Indirect
2019-09-03	Common Stock	S	24383	$264.222	Disposed	955803	Indirect
2019-09-03	Common Stock	S	32214	$263.2546	Disposed	980186	Indirect
2019-09-03	Common Stock	S	100486	$262.3865	Disposed	1012400	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	994	Indirect
Common Stock	9000	Indirect

Footnotes

F1: By B. Wayne Hughes, trustee for B.W. Hughes Living Trust dated 6/3/77.

F2: By custodian of an IRA for the reporting person's benefit.

F3: The shares are the separate property of reporting person's wife, and reporting person disclaims any economic interest in the shares.

F4: Represents weighted average price. These shares were sold at prices ranging between $266.00 and $266.42. 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.

F5: Represents weighted average price. These shares were sold at prices ranging between $265.00 and $265.9975. 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.

F6: Represents weighted average price. These shares were sold at prices ranging between $264.00 and $264.99. 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.

F7: Represents weighted average price. These shares were sold at prices ranging between $263.00 and $263.96. 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.

F8: Represents weighted average price. These shares were sold at prices ranging between $262.00 and $262.99. 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.

F9: Represents weighted average price. These shares were sold at prices ranging between $261.00 and $261.99. 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.

F10: Represents weighted average price. These shares were sold at prices ranging between $262.00 and $262.59. 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.