Public Storage — Director's Dealing 2019

May 28, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2019-05-27

Reporting Person: Vitan Nathaniel A. (Sr. VP, Ch. Legal Off., Sec.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-05-27	Common Stock	A	2000	—	Acquired	6165	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-05-27	Stock Option (right to buy)	$236.23	A	10000	Acquired	2029-05-27	Common Stock (10000)	Direct

Footnotes

F1: Grant of restricted stock units (RSUs). The RSUs vest in eight (8) equal annual installments beginning one (1) year from the date of grant.

F2: Includes 2,000 RSUs.

F3: Stock option granted pursuant to the 2016 Equity and Performance-Based Incentive Compensation Plan. Option vests in five (5) equal annual installments beginning one (1) year from the date of grant.