Edgar Filing: DOLL DAVID F

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

DOLL DAVID F

2. Issuer Name and Ticker or Trading Symbol
Public Storage [PSA]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
SENIOR VICE PRESIDENT

(Last)

(First)

(Middle)

C/O PUBLIC STORAGE, 701 WESTERN AVENUE

3. Date of Earliest Transaction (Month/Day/Year)
11/15/2011

(Street)

GLENDALE, CA 91201

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

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)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	11/15/2011		M		479	A	$ 55.66	14,966 ⁽¹⁾	D
Common Stock	11/15/2011		S		479	D	$ 126	14,487 ⁽¹⁾	D
Common Stock	11/15/2011		M		2,388	A	$ 97.47	16,875 ⁽¹⁾	D
Common Stock	11/15/2011		S		2,388	D	$ 126.006 ⁽⁶⁾	14,487 ⁽¹⁾	D
Common Stock	11/16/2011		M		6,321	A	$ 97.47	20,808 ⁽¹⁾	D
Common Stock	11/16/2011		S		6,321	D	$ 126.0051 ⁽⁷⁾	14,487 ⁽¹⁾	D
Common Stock								6	I	For benefit of son ⁽⁵⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

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 Underlying Securities
(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 of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option (right to buy) ⁽⁴⁾

$ 50.3

03/02/2010

03/02/2019

Common Stock

50,000

Stock Option (right to buy) ⁽⁴⁾

$ 80.48

02/27/2009

02/27/2018

Common Stock

150,000

Stock Option (right to buy) ⁽³⁾

$ 97.47

11/15/2011

2,388

03/15/2008

03/15/2017

Common Stock

2,388

$ 0

17,612

Stock Option (right to buy) ⁽³⁾

$ 97.47

11/16/2011

6,321

03/15/2008

03/15/2017

Common Stock

6,321

$ 0

11,291

Stock Option (right to buy) ⁽²⁾

$ 82.9

03/16/2007

03/16/2016

Common Stock

40,000

Stock Option (right to buy) ⁽²⁾

$ 55.66

11/15/2011

479

02/21/2006

02/21/2015

Common Stock

479

$ 0

30,000

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
DOLL DAVID F C/O PUBLIC STORAGE 701 WESTERN AVENUE GLENDALE, CA 91201			SENIOR VICE PRESIDENT

Signatures

/s/ Stephanie G. Heim, Attorney in Fact		11/17/2011
^**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	Includes 7,125 restricted stock units.
(2)	Stock Options granted pursuant to the 2001 Stock Option and Incentive Plan; options vest in 5 equal annual installments beginning 1 year from date of grant.
(3)	Stock Options granted pursuant to the 2001 Stock Option and Incentive Plan; options vest in 8 equal annual installments beginning 1 year from date of grant.
(4)	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.
(5)	By David F. Doll for benefit of minor son.
(6)	These shares were sold at prices ranging between $126.0000 and $126.0076. 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.
(7)	These shares were sold at prices ranging between $126.0000 and $126.0800. 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.

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