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 * Kirk Spencer   2. Issuer Name and Ticker or Trading Symbol Extra Space Storage Inc. [EXR] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 2795 EAST COTTONWOOD PARKWAY, SUITE 400 3. Date of Earliest Transaction (Month/Day/Year) 05/15/2006 (Street) SALT LAKE CITY, UT 84121 4. If Amendment, Date Original Filed(Month/Day/Year) 05/17/2006 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) Code V Amount (A) or (D) Price Common Stock 05/15/2006   A   2,000 (2) A $ 0 (1) 2,000 D   Common Stock               1,328,673 I Held by Krispen Family Holdings, L.C. (3) Common Stock               626,343 I Held by The Kirk 101 Trust. (4) Common Stock               418,452 I Held by The SFKC Kirk Charitable Remainder Unitrust. (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

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Kirk Spencer 2795 EAST COTTONWOOD PARKWAY SUITE 400 SALT LAKE CITY, UT 84121	X

Signatures

Charles L. Allen, Attorney-in-fact and agent		05/17/2006
**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)	Market value at the time of grant was $15.22.
(2)	These shares of stock were granted to Mr. Kirk under the provision of the Extra Space Storage Inc. 2004 Non-Employee Directors' Share Plan on May 15, 2006.
(3)	Krispen Family Holdings, L.C. is an entity in which Mr. Kirk has shared voting and invetment power. Mr. Kirk has no pecuniary interest in 694,643 of the shares held by Krispen Family Holdings L.C. and disclaims beneficial ownership.
(4)	Mr. Kirk has no pecuniary interest in the shares held by The Kirk 101 Turst and disclaims ownership.
(5)	Mr. Kirk is the income beneficiary of The SFKC Kirk Charitable Remainder Unitrust.

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