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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 E3yavZSq3FnxpWYoVAIEPjlARTRL+EZfgxkLB8cYY9FqwoBkUZqSPzCITgPJXiIP
 5exUmnZztsJtRk7d2vA/Ug==

<SEC-DOCUMENT>0001179110-10-015717.txt : 20101108
<SEC-HEADER>0001179110-10-015717.hdr.sgml : 20101108
<ACCEPTANCE-DATETIME>20101108153843
ACCESSION NUMBER:		0001179110-10-015717
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20101105
FILED AS OF DATE:		20101108
DATE AS OF CHANGE:		20101108

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Allen Charles
		CENTRAL INDEX KEY:			0001300031

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32269
		FILM NUMBER:		101172231

	MAIL ADDRESS:	
		STREET 1:		2795 EAST COTTONWOOD PARKWAY, SUITE 400
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84121

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Extra Space Storage Inc.
		CENTRAL INDEX KEY:			0001289490
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				201076777
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2795 COTTONWOOD PARKWAY, SUITE 400
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84121
		BUSINESS PHONE:		801-562-5556

	MAIL ADDRESS:	
		STREET 1:		2795 COTTONWOOD PARKWAY, SUITE 400
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84121
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-11-05</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001289490</issuerCik>
        <issuerName>Extra Space Storage Inc.</issuerName>
        <issuerTradingSymbol>EXR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001300031</rptOwnerCik>
            <rptOwnerName>Allen Charles</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2795 EAST COTTONWOOD PARKWAY</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 400</rptOwnerStreet2>
            <rptOwnerCity>SALT LAKE CITY</rptOwnerCity>
            <rptOwnerState>UT</rptOwnerState>
            <rptOwnerZipCode>84121</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Executiv VP &amp; CLO</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2010-11-05</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>G</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>6000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>17.32</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>186975</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes></footnotes>

    <ownerSignature>
        <signatureName>Charles L. Allen</signatureName>
        <signatureDate>2010-11-08</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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