Public Storage — Director's Dealing 2023

Feb 15, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Public Storage (PSA)
CIK: 0001393311
Period of Report: 2023-02-13

Reporting Person: HAVNER RONALD L JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-02-13	Common Stock	M	103275	$147.19	Acquired	166915	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-02-13	Stock Option (Right to Buy)	$147.19	M	103275	Disposed	2023-02-21	Common Stock (103275)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	199706	Indirect
Common Stock	1900	Indirect

Footnotes

F1: Includes 53,750 restricted stock units and 1,890 deferred stock units. Mr. Havner postponed receipt of 10,000 vested restricted stock units granted February 19, 2015 with an original vesting date of April 1, 2016 in accordance with the following schedule: 10 equal installments over 10 years starting April 1, 2021 to April 1, 2030. 8,000 remain subject to deferred receipt.

F2: Ronald L. Havner and LeeAnn R. Havner, Trustee of Havner Family Trust.

F3: 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.

F4: This option was previously reported as an option for 100,000 shares of common stock at an exercise price of $152.01, 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.