X0306 4 2017-03-03 0 0001393311 Public Storage PSA 0001316693 DOLL DAVID F C/O PUBLIC STORAGE 701 WESTERN AVENUE GLENDALE CA 91201 0 1 0 0 SENIOR VICE PRESIDENT Common Stock 2017-03-03 4 M 0 20000 184.85 A 83650 D Common Stock 2017-03-03 4 S 0 20000 225.3417 D 63650 D Stock Option (right to buy) 184.85 2017-03-03 4 M 0 20000 0 D 2015-12-31 2024-12-31 Common Stock 20000 60000 D Includes 35,700 restricted share units. Represents weighted average purchase price. These shares were sold at prices ranging from $225.00 to $225.96. 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. Stock Option granted pursuant to the 2007 Equity and Performance-Based Incentive Compensation Plan, as amended. Options vest in five (5) equal annual installments beginning one (1) year from the date of grant. /s/ Lily Yan Hughes, Attorney-in-Fact 2017-03-06