Public Storage — Director's Dealing 2022

Aug 17, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2022-08-16

Reporting Person: REYES JOHN (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-08-16	Common Stock	M	51637	$147.19	Acquired	227086	Direct
2022-08-16	Common Stock	S	12845	$351.91	Disposed	214241	Direct
2022-08-16	Common Stock	S	21079	$352.76	Disposed	193162	Direct
2022-08-16	Common Stock	S	6248	$353.72	Disposed	186914	Direct
2022-08-16	Common Stock	S	7553	$354.72	Disposed	179361	Direct
2022-08-16	Common Stock	S	3912	$355.35	Disposed	175449	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-08-16	Stock Option (Right to Buy)	$147.19	M	51637	Disposed	2023-02-21	Common Stock (51637)	Direct

Footnotes

F1: Includes 1,679 deferred stock units.

F2: Represents weighted average price. These shares were sold at prices ranging between $351.28 and $352.27. 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.

F3: Represents weighted average price. These shares were sold at prices ranging between $352.29 and $353.27. 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.

F4: Represents weighted average price. These shares were sold at prices ranging between $353.30 and $354.29. 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.

F5: Represents weighted average price. These shares were sold at prices ranging between $354.32 and $355.29. 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.

F6: Represents weighted average price. These shares were sold at prices ranging between $355.32 and $355.49. 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.

F7: Stock option granted pursuant to the Public Storage 2007 Equity and Performance-Based Incentive Compensation Plan. Option vests in five (5) equal annual installments beginning one (1) year from the date of grant.

F8: This option was previously reported as an option for 100,000 common shares (of which 50,000 were previously exercised) at an exercise price of $152.01, but, pursuant to anti-dilution provisions of the Public Storage 2007 Equity and Performance-Based Incentive Compensation Plan, was adjusted to reflect the special dividend declared by Public Storage on July 22, 2022.