Public Storage (PSA) Form 4 Public Storage / TAMARA HUGHES GUSTAVSON ownership change

SEC Form 4

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^*

GUSTAVSON TAMARA HUGHES

(Last) (First) (Middle)

C/O PUBLIC STORAGE

701 WESTERN AVENUE

(Street)

GLENDALE CA 91201

(City) (State) (Zip)

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

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

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/19/2022

4. If Amendment, Date of 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

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/19/2022		S		148.14(1)	D	$350.64(2)	1,281.86	I	By BWH Investments 2019, LLC
Common Stock	08/19/2022		S		494.63(1)	D	$351.45(3)	787.23	I	By BWH Investments 2019, LLC
Common Stock	08/19/2022		S		462.47(1)	D	$352.6(4)	324.76	I	By BWH Investments 2019, LLC
Common Stock	08/19/2022		S		122.17(1)	D	$353.15(5)	202.59	I	By BWH Investments 2019, LLC
Common Stock	08/22/2022		S		20.9(1)	D	$346.04(6)	181.69	I	By BWH Investments 2019, LLC
Common Stock	08/22/2022		S		14(1)	D	$347(7)	167.69	I	By BWH Investments 2019, LLC
Common Stock	08/22/2022		S		81.59(1)	D	$348.17(8)	86.1	I	By BWH Investments 2019, LLC
Common Stock	08/22/2022		S		62.51(1)	D	$348.85(9)	23.59	I	By BWH Investments 2019, LLC
Common Stock	08/22/2022		S		23.59(1)	D	$350	0	I	By BWH Investments 2019, LLC
Common Stock								14,114,476	D
Common Stock								11,348	D(10)
Common Stock								5,500	D(11)
Common Stock								2,785,000	I	By Trust
Common Stock								27,343	I	By IRA(12)
Common Stock								1,300	I	By Husband
Common Stock								295,000	I	By LLC(13)

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 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

Explanation of Responses:

1. Represents the reporting person's beneficial interest in shares sold by BWH Investments 2019, LLC.

2. Represents weighted average price. These shares were sold at prices ranging between $350.02 and $351.01. Full information regarding the number of shares sold 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.

3. Represents weighted average price. These shares were sold at prices ranging between $351.02 and $352.01. Full information regarding the number of shares sold 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.

4. Represents weighted average price. These shares were sold at prices ranging between $352.02 and $353.015. Full information regarding the number of shares sold 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.

5. Represents weighted average price. These shares were sold at prices ranging between $353.02 and $353.46. Full information regarding the number of shares sold 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.

6. Represents weighted average price. These shares were sold at prices ranging between $345.56 and $346.41. Full information regarding the number of shares sold 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.

7. Represents weighted average price. These shares were sold at prices ranging between $346.70 and $347.39. Full information regarding the number of shares sold 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.

8. Represents weighted average price. These shares were sold at prices ranging between $347.59 and $348.54. Full information regarding the number of shares sold 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.

9. Represents weighted average price. These shares were sold at prices ranging between $348.57 and $349.23. Full information regarding the number of shares sold 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.

10. By Tamara Hughes Gustavson and B. Wayne Hughes, Jr. - Separate Property.

11. By reporting person and husband.

12. By custodian of an IRA for benefit of reporting person.

13. By LLC of which reporting person is a member and manager.

	/s/ Nathaniel A. Vitan, Attorney-in-Fact	08/23/2022
	** 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).
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