Public Storage — Director's Dealing 2023

Dec 12, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2023-12-11

Reporting Person: REYES JOHN (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-12-11	Common Shares	M	50000	$161.42	Acquired	224192	Direct
2023-12-11	Common Shares	S	12666	$275.46	Disposed	211526	Direct
2023-12-11	Common Shares	S	36173	$276.13	Disposed	175353	Direct
2023-12-11	Common Shares	S	1161	$276.97	Disposed	174192	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-12-11	Stock Option (Right to Buy)	$161.42	M	50000	Disposed	2024-02-20	Common Shares (50000)	Direct

Footnotes

F1: Includes 17,300 restricted stock units and 2,207 deferred stock units.

F2: Represents weighted average price. These shares were sold at prices ranging between $274.81 and $275.79. 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 $275.86 and $276.78. 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 $276.89 and $277.11. 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: Stock option granted pursuant to the 2007 Equity and Performance-Based Incentive Compensation Plan. Option vests in five (5) equal annual installments beginning one (1) year from grant date.

F6: This option was previously reported as an option for 100,000 shares of common stock at an exercise price of $166.71, but, pursuant to anti-dilution provisions of the Company's 2007 Equity and Performance-Based Incentive Compensation Plan, was adjusted to reflect the special dividend declared by the Company on July 22, 2022.