| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
Public Storage [ PSA ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 05/20/2010 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock | 05/20/2010 | M | 8,600 | A | $23.0625 | 63,805(4) | D | |||
| Common Stock | 05/20/2010 | S | 8,600 | D | $89.2349(6) | 55,205(4) | D | |||
| Common Stock | 05/21/2010 | M | 21,400 | A | $23.0625 | 76,605(4) | D | |||
| Common Stock | 05/21/2010 | S | 21,400 | D | $89.1327(6) | 55,205(4) | D | |||
| Common Stock | 57,025.1749(1) | I | By 401(k) plan | |||||||
| Depositary Shares Representing Series A Preferred Stock | 2,500 | D | ||||||||
| Depositary Shares Representing Series D Preferred Stock | 10,500 | D | ||||||||
| Depositary Shares Representing Series F Preferred Stock | 945 | D | ||||||||
| Depositary Shares Representing Series I Preferred Stock | 500 | D | ||||||||
| Depositary Shares Representing Series K Preferred Stock | 1,000 | D | ||||||||
| Depositary Shares Representing Series M Preferred Stock | 765 | D | ||||||||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Stock Option (right to buy)(5) | $50.3 | 03/02/2010 | 03/02/2019 | Common Stock | 100,000 | 100,000 | D | ||||||||
| Stock Option (right to buy)(5) | $80.48 | 02/27/2009 | 02/27/2018 | Common Stock | 250,000 | 250,000 | D | ||||||||
| Stock Option (right to buy)(3) | $97.47 | 03/15/2008 | 03/15/2017 | Common Stock | 140,000 | 140,000 | D | ||||||||
| Stock Option (right to buy)(3) | $78.36 | 03/03/2007 | 03/03/2016 | Common Stock | 50,000 | 50,000 | D | ||||||||
| Stock Option (right to buy)(3) | $47.65 | 08/05/2005 | 08/05/2014 | Common Stock | 100,000 | 100,000 | D | ||||||||
| Stock Option (right to buy)(2) | $23.0625 | 05/20/2010 | M | 8,600 | 12/13/2002 | 12/13/2010 | Common Stock | 8,600 | $0 | 51,400 | D | ||||
| Stock Option (right to buy)(2) | $23.0625 | 05/21/2010 | M | 21,400 | 12/13/2002 | 12/13/2010 | Common Stock | 21,400 | $0 | 30,000 | D | ||||
| Explanation of Responses: |
| 1. 401(k) plan units that represent interests in common stock; based on plan information as of May 19, 2010. There is not a one to one correlation between units and shares. |
| 2. Stock Options granted pursuant to the 1996 Stock Option and Incentive Plan. |
| 3. Stock Options granted pursuant to the 2001 Stock Option and Incentive Plan. |
| 4. Includes 16,500 restricted share units. |
| 5. Stock Options granted pursuant to the 2007 Equity and Performance-Based Incentive Compensation Plan; options vest in 5 equal annual installments beginning 1 year from date of grant. |
| 6. Represents weighted average purchase price. These shares were sold at prices ranging between $89.00 and $89.43. 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. |
| Remarks: |
| /s/ John Reyes | 05/21/2010 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||